NXT Energy Correlations
| NSFDF Stock | USD 0.16 0.02 14.29% |
The current 90-days correlation between NXT Energy Solutions and Seadrill Limited is -0.18 (i.e., Good diversification). The correlation of NXT Energy 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.
NXT Energy Correlation With Market
Good diversification
The correlation between NXT Energy Solutions and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NXT Energy Solutions and DJI in the same portfolio, assuming nothing else is changed.
NXT |
The ability to find closely correlated positions to NXT Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NXT Energy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back NXT Energy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling NXT Energy Solutions to buy it.
Moving together with NXT OTC Stock
| 0.61 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.64 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
Moving against NXT OTC Stock
| 0.6 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.59 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.58 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.57 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.5 | WMT | Walmart Aggressive Push | PairCorr |
| 0.49 | HPQ | HP Inc | PairCorr |
| 0.49 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.49 | DIS | Walt Disney Sell-off Trend | PairCorr |
| 0.46 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.37 | HD | Home Depot | 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 NXT OTC Stock performing well and NXT Energy OTC Stock 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 NXT Energy'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SDRL | 1.94 | (0.18) | 0.00 | (0.05) | 0.00 | 3.83 | 13.44 | |||
| NE | 1.84 | (0.34) | 0.00 | (0.08) | 0.00 | 3.36 | 14.34 | |||
| BORR | 2.46 | (0.87) | 0.00 | (0.48) | 0.00 | 4.02 | 12.96 | |||
| SCRYY | 2.06 | 0.26 | 0.07 | 1.64 | 2.00 | 5.61 | 12.99 | |||
| 444859BR2 | 1.36 | (0.01) | 0.00 | 0.16 | 0.00 | 5.93 | 16.62 | |||
| AQUI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BRRAY | 1.27 | (0.11) | 0.00 | 0.01 | 0.00 | 0.00 | 34.02 | |||
| MSTSX | 0.49 | (0.03) | (0.13) | 0.07 | 0.50 | 1.21 | 2.80 | |||
| ABHYX | 0.18 | 0.03 | (0.23) | (0.15) | 0.24 | 0.34 | 1.91 | |||
| ID | 3.84 | 0.90 | 0.16 | 1.45 | 3.99 | 7.89 | 20.54 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in NXT Energy without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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NXT Energy Corporate Management
Elected by the shareholders, the NXT Energy's board of directors comprises two types of representatives: NXT Energy inside directors who are chosen from within the company, and outside directors, selected externally and held independent of NXT. The board's role is to monitor NXT Energy's management team and ensure that shareholders' interests are well served. NXT Energy'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, NXT Energy's outside directors are responsible for providing unbiased perspectives on the board's policies.
| B JD | Lead Director | Profile | |
| Mohammad Saqib | Operations Interpretation | Profile | |
| Enrique Hung | Director GeoScience | Profile | |
| Sajid BBA | Director Devel | Profile |