Does it mean anything when a guy wears a ring on his middle finger?

I wasn't sure it meant anything in particular bc I know a guy who was always wearing a ring on his middle finger and he has said time and again that he's not gay, however any other guy I know who does happen to wear a ring on his middle finger (meaning JUST the one ring on the middle finger) does identify as gay. Did I miss the memo or something?

Does it mean anything when a guy wears a ring on his middle finger?
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