Nextdecade Corp Correlations

NEXT Stock

USD 5.33 0.09 1.72%

The current 90-days correlation between Nextdecade Corp and Talos Energy is 0.43 (i.e., Very weak 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

Pay attention - limited upside

The correlation between Nextdecade Corp and DJI is -0.72 (i.e., Pay attention - limited upside) 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 against Nextdecade Stock

0.67	AQ30	ALTAGAS LTD PRFG	Pair Corr
0.6	DLNG	Dynagas LNG Partners	Pair Corr
0.59	SRR	Source Rock Royalties	Pair Corr
0.58	EE	Excelerate Energy	Pair Corr
0.45	ET	Energy Transfer LP	Pair Corr
0.45	CQP	Cheniere Energy Partners	Pair Corr
0.44	OCW	Euronav NV	Pair Corr
0.35	K2Y	Keyera Corp Earnings Call This Week	Pair Corr
0.31	KEY	Keyera Corp Earnings Call This Week	Pair Corr
0.74	PAA	Plains All American	Pair Corr
0.69	ETP	Energy Transfer Partners	Pair Corr
0.59	SMC	Summit Midstream	Pair Corr
0.53	DTM	DT Midstream Earnings Call This Week	Pair Corr
0.53	KYN	Kayne Anderson MLP	Pair Corr
0.53	NAT	Nordic American Tankers	Pair Corr
0.52	DKL	Delek Logistics Partners	Pair Corr
0.49	LPG	Dorian LPG	Pair Corr
0.49	SUN	Sunoco LP	Pair Corr
0.48	GEL	Genesis Energy LP Earnings Call This Week	Pair Corr
0.46	OKE	ONEOK Inc	Pair Corr
0.45	KMI	Kinder Morgan	Pair Corr
0.44	SFL	SFL Corporation Earnings Call This Week	Pair Corr
0.43	EPD	Enterprise Products Sell-off Trend	Pair Corr
0.38	NGL	NGL Energy Partners	Pair Corr
0.34	FRO	Frontline	Pair Corr

Related Correlations Analysis

	TALO	CLMT	WKC	DNOW	GLP	EFXT	KRP	AESI	FLNG	BTE
TALO		0.61	0.22	0.58	0.67	0.7	0.22	0.24	0.43	0.8	TALO
CLMT	0.61		0.65	0.88	0.79	0.82	0.36	0.72	0.48	0.48	CLMT
WKC	0.22	0.65		0.55	0.49	0.56	0.29	0.78	0.7	0.28	WKC
DNOW	0.58	0.88	0.55		0.81	0.69	0.29	0.7	0.41	0.31	DNOW
GLP	0.67	0.79	0.49	0.81		0.67	0.51	0.63	0.57	0.45	GLP
EFXT	0.7	0.82	0.56	0.69	0.67		0.07	0.63	0.49	0.7	EFXT
KRP	0.22	0.36	0.29	0.29	0.51	0.07		0.3	0.5	0.04	KRP
AESI	0.24	0.72	0.78	0.7	0.63	0.63	0.3		0.56	0.08	AESI
FLNG	0.43	0.48	0.7	0.41	0.57	0.49	0.5	0.56		0.39	FLNG
BTE	0.8	0.48	0.28	0.31	0.45	0.7	0.04	0.08	0.39		BTE
	TALO	CLMT	WKC	DNOW	GLP	EFXT	KRP	AESI	FLNG	BTE

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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	2.12	0.37	0.13	0.94	2.20	(2.48)	4.95	(3.60)	11.38
CLMT	1.32	0.32	0.16	0.86	1.32	(1.45)	3.07	(2.44)	6.76
WKC	1.41	0.07	0.02	0.16	1.97	(1.47)	2.94	(3.35)	11.51
DNOW	1.66	0.12	0.06	0.19	2.06	(1.79)	3.90	(3.24)	11.62
GLP	1.57	0.08	0.01	0.35	1.89	(1.64)	3.06	(2.99)	9.17
EFXT	2.05	0.48	0.14	1.07	2.57	(2.21)	5.71	(4.22)	17.86
KRP	1.21	0.11	0.02	8.21	1.65	(1.20)	2.40	(2.41)	6.54
AESI	2.80	(0.09)	0.00	(0.05)	0.00	0.00	5.05	(4.90)	21.94
FLNG	0.99	0.09	(0.01)	(0.24)	1.29	(1.07)	2.09	(1.91)	7.10
BTE	2.16	0.61	0.22	1.69	2.04	(2.50)	4.65	(3.49)	19.69

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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