NextDecade Corporation Common Stock (NEXT) — Stock Correlations & Overview
Over the past year, NEXT has moved most closely with BESF, EQNR, VG. Explore the stocks most correlated and inversely correlated with NEXT below, along with its price, financials, and company profile.
Stocks correlated with NEXT
Correlation of daily returns. Higher positive values move with NEXT; negative values move opposite it. Informational only, not investment advice.
Most correlated with NEXT
| Symbol | Company | Correlation |
|---|---|---|
| BESF | Bastion Energy ETF | 0.54 |
| EQNR | Equinor ASA American Depositary Shares (Each Representing One Ordinary Share, nominal value NOK 2.50 per share) | 0.50 |
| VG | Venture Global, Inc.NATURAL GAS DISTRIBUTION | 0.50 |
| USAI | Pacer American Energy Infrastructure ETF | 0.49 |
| LNG | Cheniere Energy IncNATURAL GAS DISTRIBUTION | 0.47 |
Most inversely correlated with NEXT
| Symbol | Company | Correlation |
|---|---|---|
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.45 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.43 |
| NRGD | MicroSectors U.S. Big Oil -3x Inverse Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC | -0.42 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.41 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.41 |
Frequently asked questions about NEXT correlations
- Which stocks are most correlated with NEXT?
- Based on one year of daily returns, the stocks most correlated with NextDecade Corporation Common Stock (NEXT) are BESF (0.54), EQNR (0.50) and VG (0.50). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with NEXT?
- Over the past year, the stocks most inversely correlated with NextDecade Corporation Common Stock (NEXT) are DRIP (-0.45), WTID (-0.43) and NRGD (-0.42). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these NEXT correlations calculated?
- We compute the correlation of daily returns between NEXT and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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