Nextracker Correlations
| NXT Stock | 37.40 0.19 0.51% |
The current 90-days correlation between Nextracker Class A and Harmony Gold Mining is 0.03 (i.e., Significant diversification). The correlation of Nextracker 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.
Nextracker Correlation With Market
Significant diversification
The correlation between Nextracker Class A and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nextracker Class A and DJI in the same portfolio, assuming nothing else is changed.
Nextracker |
Moving against Nextracker Stock
| 0.44 | SPLP | Steel Partners Holdings | PairCorr |
| 0.38 | DE | Deere Company Buyout Trend | PairCorr |
| 0.31 | BW | Babcock Wilcox Enter | PairCorr |
| 0.48 | HY | Hyster Yale Materials | PairCorr |
| 0.43 | GP | GreenPower Motor | PairCorr |
| 0.4 | DY | Dycom Industries | PairCorr |
| 0.32 | MG | Mistras Group | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Nextracker Stock performing well and Nextracker 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 Nextracker'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HMY | 2.69 | (0.21) | 0.00 | (0.60) | 0.00 | 7.63 | 17.74 | |||
| WRN | 1.94 | (0.10) | 0.00 | (0.01) | 0.00 | 3.51 | 20.61 | |||
| TNDM | 2.44 | (0.58) | 0.00 | (0.32) | 0.00 | 4.47 | 13.13 | |||
| APOG | 1.93 | 0.24 | 0.19 | 0.19 | 1.57 | 3.73 | 28.75 | |||
| SNDA | 2.37 | (0.29) | 0.00 | (0.13) | 0.00 | 5.59 | 12.89 | |||
| GMS | 1.44 | 0.00 | 0.02 | 0.08 | 1.91 | 3.02 | 9.77 | |||
| NB | 3.54 | (0.68) | 0.00 | (0.78) | 0.00 | 5.33 | 28.43 |
Nextracker Corporate Executives
Elected by the shareholders, the Nextracker's board of directors comprises two types of representatives: Nextracker inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Nextracker. The board's role is to monitor Nextracker's management team and ensure that shareholders' interests are well served. Nextracker's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Nextracker's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Marco Garcia | CoFounder Officer | Profile | |
| Mike Mehawich | CoFounder Officer | Profile | |
| Alex Au | CoFounder CTO | Profile | |
| Nicholas Miller | CoFounder COO | Profile |