NextDecade Corporation Common Stock (NEXT) Correlation Distribution
Across 6,809 rolling correlation observations between NextDecade Corporation Common Stock (NEXT) and other NASDAQ-listed stocks, 37.3% are positive and 62.7% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.164, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 3.5% and strong negative correlations (≤−0.7) for 13.5%.
- Total observations
- 6,809
- Mean correlation
- -0.164
- Most common range
- -0.7 to -0.6
- Positive pairs
- 37.3%
- Strong positive (≥0.7)
- 3.5%
- Sector
- Natural Gas Transmission & Distribution
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 461 | 6.8% | |
| -0.8 to -0.7 | 461 | 6.8% | |
| -0.7 to -0.6 | 749 | 11.0% | |
| -0.6 to -0.5 | 748 | 11.0% | |
| -0.5 to -0.4 | 443 | 6.5% | |
| -0.4 to -0.3 | 443 | 6.5% | |
| -0.3 to -0.2 | 326 | 4.8% | |
| -0.2 to -0.1 | 326 | 4.8% | |
| -0.1 to 0.0 | 310 | 4.6% | |
| 0.0 to 0.1 | 310 | 4.6% | |
| 0.1 to 0.2 | 311 | 4.6% | |
| 0.2 to 0.3 | 311 | 4.6% | |
| 0.3 to 0.4 | 330 | 4.8% | |
| 0.4 to 0.5 | 329 | 4.8% | |
| 0.5 to 0.6 | 357 | 5.2% | |
| 0.6 to 0.7 | 357 | 5.2% | |
| 0.7 to 0.8 | 119 | 1.7% | |
| 0.8 to 0.9 | 118 | 1.7% | |
| 0.9 to 1.0 | 0 | 0.0% |
Frequently asked questions
What is the average correlation of NEXT?
NextDecade Corporation Common Stock (NEXT) has an average correlation of about -0.164 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is NEXT positively correlated with other stocks?
Not predominantly — 37.3% of pairs are positive and 62.7% are negative. Strong positive correlations (≥0.7) make up 3.5%.
What is the most common correlation range for NEXT?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 27.8% of all pairs.
Explore the full interactive correlation distribution for NEXT.
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