ARRY vs. NEXT
ARRY (Array Technologies, Inc.) and NEXT (NextDecade Corporation) are both stocks. ARRY operates in Solar (Technology), while NEXT operates in Oil & Gas E&P (Energy). Over the past 5 years, ARRY returned -12.91%/yr vs 14.12%/yr for NEXT. At a 0.14 correlation, their price movements are largely independent.
Performance
ARRY vs. NEXT - Performance Comparison
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Returns By Period
In the year-to-date period, ARRY achieves a -14.97% return, which is significantly lower than NEXT's 60.53% return.
ARRY
- 1D
- -3.09%
- 1M
- -8.52%
- YTD
- -14.97%
- 6M
- -2.12%
- 1Y
- 4.53%
- 3Y*
- -29.57%
- 5Y*
- -12.91%
- 10Y*
- —
NEXT
- 1D
- -0.82%
- 1M
- 11.90%
- YTD
- 60.53%
- 6M
- 31.78%
- 1Y
- 1.81%
- 3Y*
- 11.28%
- 5Y*
- 14.12%
- 10Y*
- -1.63%
ARRY vs. NEXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ARRY Array Technologies, Inc. | -14.97% | 52.65% | -64.05% | -13.09% | 23.20% | -63.63% | 46.24% |
NEXT NextDecade Corporation | 60.53% | -31.65% | 61.64% | -3.44% | 73.33% | 36.36% | -21.72% |
Correlation
The correlation between ARRY and NEXT is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2020 | 0.15 |
The correlation between ARRY and NEXT shifts across timeframes, from -0.05 (1 year) to 0.17 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
ARRY:
$1.20B
NEXT:
$2.24B
ARRY:
-$0.44
NEXT:
-$1.35
ARRY:
$1.21B
NEXT:
$0.00
ARRY:
$269.92M
NEXT:
-$15.67M
ARRY:
$5.35M
NEXT:
-$271.66M
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Return for Risk
ARRY vs. NEXT — Risk / Return Rank
ARRY
NEXT
ARRY vs. NEXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Array Technologies, Inc. (ARRY) and NextDecade Corporation (NEXT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| ARRY | NEXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.06 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 0.03 | +0.07 |
| Martin ratioReturn relative to average drawdown | 0.20 | 0.04 | +0.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ARRY | NEXT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.05 | 0.03 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.16 | 0.19 | -0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.02 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.29 | -0.02 | -0.28 |
Drawdowns
ARRY vs. NEXT - Drawdown Comparison
The maximum ARRY drawdown since its inception was -92.20%, roughly equal to the maximum NEXT drawdown of -88.79%. Use the drawdown chart below to compare losses from any high point for ARRY and NEXT.
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Drawdown Indicators
| ARRY | NEXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.20% | -88.79% | -3.41% |
Max Drawdown (1Y)Largest decline over 1 year | -44.31% | -60.00% | +15.69% |
Max Drawdown (3Y)Largest decline over 3 years | -84.88% | -60.00% | -24.88% |
Max Drawdown (5Y)Largest decline over 5 years | -85.31% | -60.00% | -25.31% |
Max Drawdown (10Y)Largest decline over 10 years | — | -88.79% | — |
Current DrawdownCurrent decline from peak | -84.64% | -29.50% | -55.14% |
Average DrawdownAverage peak-to-trough decline | -68.91% | -39.04% | -29.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.73% | 40.88% | -18.15% |
Volatility
ARRY vs. NEXT - Volatility Comparison
Array Technologies, Inc. (ARRY) has a higher volatility of 22.69% compared to NextDecade Corporation (NEXT) at 14.18%. This indicates that ARRY's price experiences larger fluctuations and is considered to be riskier than NEXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARRY | NEXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.69% | 14.18% | +8.51% |
Volatility (6M)Calculated over the trailing 6-month period | 62.61% | 46.34% | +16.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 84.15% | 63.74% | +20.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.45% | 76.46% | +4.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.11% | 87.06% | -4.95% |
Dividends
ARRY vs. NEXT - Dividend Comparison
Neither ARRY nor NEXT has paid dividends to shareholders.
Financials
ARRY vs. NEXT - Financials Comparison
This section allows you to compare key financial metrics between Array Technologies, Inc. and NextDecade Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
ARRY and NEXT have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ARRY has higher volatility (22.69%) compared to NEXT (14.18%). In terms of maximum drawdown, ARRY dropped -92.20% vs NEXT's -88.79%.
ARRY currently has the higher Sharpe Ratio (0.05 vs 0.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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