Nextdecade Corp Correlations

NEXT Stock

USD 7.12 0.14 2.01%

The current 90-days correlation between Nextdecade Corp and Granite Ridge Resources is -0.05 (i.e., Good 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

Significant diversification

The correlation between Nextdecade Corp and DJI is 0.08 (i.e., Significant 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.

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 interest.

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	AR	Antero Resources Corp	Pair Corr
0.74	EP	Empire Petroleum Corp	Pair Corr
0.83	PR	Permian Resources	Pair Corr
0.92	DMLP	Dorchester Minerals	Pair Corr
0.77	BSM	Black Stone Minerals	Pair Corr
0.88	CNX	CNX Resources Corp Fiscal Year End 23rd of January 2025	Pair Corr
0.87	CRC	California Resources Corp	Pair Corr
0.92	CRK	Comstock Resources	Pair Corr
0.87	DEC	Diversified Energy	Pair Corr
0.72	EOG	EOG Resources	Pair Corr
0.68	EPM	Evolution Petroleum	Pair Corr
0.95	EQT	EQT Corporation	Pair Corr
0.91	EXE	Expand Energy Symbol Change	Pair Corr
0.81	HES	Hess	Pair Corr
0.67	KRP	Kimbell Royalty Partners	Pair Corr
0.81	MGY	Magnolia Oil Gas	Pair Corr

Moving against Nextdecade Stock

0.92	BRN	Barnwell Industries	Pair Corr
0.88	BRY	Berry Petroleum Corp	Pair Corr
0.75	APA	APA Corporation	Pair Corr
0.59	EONR	EON Resources Symbol Change	Pair Corr
0.52	BTE	Baytex Energy Corp	Pair Corr
0.37	SD	SandRidge Energy	Pair Corr
0.64	DVN	Devon Energy Sell-off Trend	Pair Corr
0.61	EGY	Vaalco Energy	Pair Corr
0.55	MUR	Murphy Oil Sell-off Trend	Pair Corr
0.51	KOS	Kosmos Energy	Pair Corr
0.35	MNR	Mach Natural Resources Earnings Call This Week	Pair Corr

Related Correlations Analysis

	EQT	CTRA	AR	EPM	GPRK	GRNT	PHX	CRC	EPSN	GPOR
EQT		0.92	0.93	0.78	0.58	0.75	0.66	0.94	0.56	0.91	EQT
CTRA	0.92		0.94	0.77	0.71	0.79	0.66	0.88	0.49	0.93	CTRA
AR	0.93	0.94		0.85	0.62	0.78	0.53	0.89	0.51	0.95	AR
EPM	0.78	0.77	0.85		0.45	0.74	0.49	0.82	0.5	0.82	EPM
GPRK	0.58	0.71	0.62	0.45		0.52	0.54	0.57	0.38	0.62	GPRK
GRNT	0.75	0.79	0.78	0.74	0.52		0.34	0.83	0.11	0.84	GRNT
PHX	0.66	0.66	0.53	0.49	0.54	0.34		0.54	0.53	0.59	PHX
CRC	0.94	0.88	0.89	0.82	0.57	0.83	0.54		0.52	0.88	CRC
EPSN	0.56	0.49	0.51	0.5	0.38	0.11	0.53	0.52		0.35	EPSN
GPOR	0.91	0.93	0.95	0.82	0.62	0.84	0.59	0.88	0.35		GPOR
	EQT	CTRA	AR	EPM	GPRK	GRNT	PHX	CRC	EPSN	GPOR

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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
EQT	1.59	0.33	0.21	0.43	1.26	(1.97)	3.68	(2.07)	9.64
CTRA	1.18	0.03	0.00	0.16	1.44	(1.20)	2.27	(2.32)	8.03
AR	1.82	0.14	0.06	0.24	2.16	(1.88)	4.91	(2.75)	13.54
EPM	1.86	0.14	0.06	0.28	1.80	(2.28)	3.99	(3.20)	20.30
GPRK	2.26	0.17	0.05	0.37	2.41	(2.38)	6.83	(3.58)	12.81
GRNT	1.50	(0.08)	(0.04)	0.04	1.92	(1.55)	2.73	(3.53)	8.05
PHX	1.22	0.21	0.05	2.80	1.47	(1.52)	2.42	(2.62)	13.02
CRC	1.66	(0.01)	0.01	0.10	2.15	(1.67)	3.57	(3.15)	9.20
EPSN	1.90	0.11	0.00	2.09	2.27	(2.09)	4.46	(3.74)	11.32
GPOR	1.38	0.09	0.12	0.18	1.12	(1.73)	4.38	(1.98)	11.52

Nextdecade Corp Corporate Management

Michael Mott	Senior Transformation	Profile
Vera Gyarfas	General Secretary	Profile
Alexander Thompson	Senior Construction	Profile
Eric Garcia	Chief Accounting Officer, Principal Accounting Officer	Profile
David Keane	Senior Affairs	Profile
Ariel Handler	Senior Operations	Profile

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