Nextdecade Corp Correlations

NEXT Stock

USD 5.38 0.08 1.47%

The current 90-days correlation between Nextdecade Corp and Talos Energy is 0.23 (i.e., Modest diversification). The correlation of Nextdecade Corp is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Nextdecade Corp Correlation With Market

Average diversification

The correlation between Nextdecade Corp and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nextdecade Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nextdecade Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nextdecade Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in median.

For more information on how to buy Nextdecade Stock please use our How to Invest in Nextdecade Corp guide.

Moving together with Nextdecade Stock

0.79	AM	Antero Midstream Partners	Pair Corr
0.65	ENB	Enbridge	Pair Corr
0.68	GLP	Global Partners LP	Pair Corr
0.85	LNG	Cheniere Energy	Pair Corr
0.63	LPG	Dorian LPG	Pair Corr
0.79	PBA	Pembina Pipeline Corp	Pair Corr

Moving against Nextdecade Stock

0.6	DLNG	Dynagas LNG Partners	Pair Corr
0.6	SRR	Source Rock Royalties	Pair Corr
0.56	TK	Teekay	Pair Corr
0.43	DHT	DHT Holdings	Pair Corr
0.34	EPD	Enterprise Products	Pair Corr
0.31	DTM	DT Midstream	Pair Corr
0.65	ETP	Energy Transfer Partners	Pair Corr
0.61	SUN	Sunoco LP	Pair Corr
0.6	NAT	Nordic American Tankers	Pair Corr
0.6	NGL	NGL Energy Partners	Pair Corr
0.53	SMC	Summit Midstream	Pair Corr
0.36	PAA	Plains All American	Pair Corr
0.67	TGS	Transportadora de Gas	Pair Corr
0.52	001331	Senton Energy	Pair Corr
0.45	INSW	International Seaways	Pair Corr
0.45	605090	Jiangxi Jovo Energy	Pair Corr
0.44	TNK	Teekay Tankers	Pair Corr
0.41	GASS	StealthGas	Pair Corr

Related Correlations Analysis

	TALO	CLMT	WKC	DNOW	GLP	EFXT	KRP	AESI	FLNG	BTE
TALO		0.41	-0.76	-0.39	-0.31	0.83	-0.37	-0.58	0.65	0.93	TALO
CLMT	0.41		-0.18	-0.06	-0.2	0.69	-0.53	-0.08	0.29	0.26	CLMT
WKC	-0.76	-0.18		0.69	0.58	-0.7	0.54	0.83	-0.45	-0.88	WKC
DNOW	-0.39	-0.06	0.69		0.77	-0.5	0.21	0.75	-0.5	-0.6	DNOW
GLP	-0.31	-0.2	0.58	0.77		-0.54	0.39	0.61	-0.41	-0.45	GLP
EFXT	0.83	0.69	-0.7	-0.5	-0.54		-0.64	-0.53	0.61	0.8	EFXT
KRP	-0.37	-0.53	0.54	0.21	0.39	-0.64		0.34	-0.03	-0.4	KRP
AESI	-0.58	-0.08	0.83	0.75	0.61	-0.53	0.34		-0.42	-0.78	AESI
FLNG	0.65	0.29	-0.45	-0.5	-0.41	0.61	-0.03	-0.42		0.61	FLNG
BTE	0.93	0.26	-0.88	-0.6	-0.45	0.8	-0.4	-0.78	0.61		BTE
	TALO	CLMT	WKC	DNOW	GLP	EFXT	KRP	AESI	FLNG	BTE

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BTE	+ 0.93	TALO
EFXT	+ 0.83	TALO
AESI	+ 0.83	WKC
BTE	+ 0.8	EFXT
GLP	+ 0.77	DNOW
AESI	+ 0.75	DNOW

High negative correlations

BTE	- 0.88	WKC
BTE	- 0.78	AESI
WKC	- 0.76	TALO
EFXT	- 0.7	WKC
KRP	- 0.64	EFXT
BTE	- 0.6	DNOW

Risk-Adjusted Indicators

There is a big difference between Nextdecade Stock performing well and Nextdecade Corp Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Nextdecade Corp's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TALO	2.11	0.17	0.05	0.28	2.54	(2.29)	5.08	(4.25)	12.17
CLMT	1.42	0.05	0.02	0.15	1.67	(1.45)	3.24	(2.75)	9.21
WKC	1.10	(0.18)	0.00	(0.44)	0.00	0.00	1.96	(2.36)	8.25
DNOW	1.59	(0.25)	0.00	(0.12)	0.00	0.00	2.85	(4.14)	11.62
GLP	1.33	(0.22)	0.00	(0.34)	0.00	0.00	3.16	(2.38)	8.47
EFXT	1.74	0.43	0.20	0.47	1.79	(1.99)	3.44	(3.16)	10.84
KRP	1.08	(0.25)	0.00	(0.63)	0.00	0.00	1.95	(2.46)	7.07
AESI	3.15	(0.24)	0.00	(0.26)	0.00	0.00	5.73	(4.70)	32.91
FLNG	1.03	0.01	(0.05)	0.03	1.40	(1.14)	2.09	(2.05)	8.17
BTE	2.38	0.37	0.12	0.47	2.59	(2.75)	5.31	(3.73)	18.04

Nextdecade Corp Corporate Management

Vera Gyarfas	General Secretary	Profile
Luke Boylston	Interim Controller	Profile
Eric Garcia	Chief Accounting Officer, Principal Accounting Officer	Profile
David Keane	Senior Affairs	Profile
Ariel Handler	Executive Solutions	Profile
Raquel Couri	Executive Administration	Profile
Graham McArthur	Senior Treasurer	Profile

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