BP vs. NEXT

Last updated Jun 13, 2026

BP (BP p.l.c.) and NEXT (NextDecade Corporation) are both stocks. Both are in the Energy sector — BP in Oil & Gas Integrated, NEXT in Oil & Gas E&P. Over the past 10 years, BP returned 9.35%/yr vs -1.71%/yr for NEXT. At a 0.25 correlation, their price movements are largely independent.

Performance

BP vs. NEXT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BP p.l.c. (BP) and NextDecade Corporation (NEXT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BP achieves a 26.20% return, which is significantly lower than NEXT's 59.39% return. Over the past 10 years, BP has outperformed NEXT with an annualized return of 9.35%, while NEXT has yielded a comparatively lower -1.71% annualized return.

BP

• 1D: 0.23%
• 1M: -1.97%
• YTD: 26.20%
• 6M: 24.31%
• 1Y: 45.82%
• 3Y*: 12.73%
• 5Y*: 14.80%
• 10Y*: 9.35%

NEXT

• 1D: 1.69%
• 1M: -1.64%
• YTD: 59.39%
• 6M: 53.85%
• 1Y: -0.47%
• 3Y*: 17.87%
• 5Y*: 14.49%
• 10Y*: -1.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BP vs. NEXT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BP BP p.l.c.	26.20%	24.54%	-11.84%	6.00%	37.01%	36.38%	-41.31%	5.83%	-4.57%	20.02%
NEXT NextDecade Corporation	59.39%	-31.65%	61.64%	-3.44%	73.33%	36.36%	-65.96%	13.70%	-35.10%	-17.79%

Correlation

The correlation between BP and NEXT is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jun 4, 2015	0.25

The correlation between BP and NEXT shifts across timeframes, from 0.25 (all time) to 0.36 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap BP : $111.67B NEXT : $2.23B
EPS BP : $1.23 NEXT : -$1.35
Total Revenue (TTM) BP : $194.60B NEXT : $0.00
Gross Profit (TTM) BP : $37.65B NEXT : -$15.67M
EBITDA (TTM) BP : $35.67B NEXT : -$271.66M

Return for Risk

BP vs. NEXT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BP

BP Risk / Return Rank: 85
BP Sharpe Ratio Rank: 86
BP Sortino Ratio Rank: 80
BP Omega Ratio Rank: 80
BP Calmar Ratio Rank: 89
BP Martin Ratio Rank: 90

NEXT

NEXT Risk / Return Rank: 42
NEXT Sharpe Ratio Rank: 43
NEXT Sortino Ratio Rank: 43
NEXT Omega Ratio Rank: 42
NEXT Calmar Ratio Rank: 43
NEXT Martin Ratio Rank: 42

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BP vs. NEXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BP p.l.c. (BP) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BP	NEXT	Difference
Sharpe ratio: Return per unit of total volatility	1.72	-0.01	+1.72
Sortino ratio: Return per unit of downside risk	2.19	0.46	+1.74
Omega ratio: Gain probability vs. loss probability	1.29	1.06	+0.23
Calmar ratio: Return relative to maximum drawdown	3.94	-0.01	+3.95
Martin ratio: Return relative to average drawdown	10.91	-0.01	+10.92

BP vs. NEXT - Sharpe Ratio Comparison

The current BP Sharpe Ratio is 1.72, which is higher than the NEXT Sharpe Ratio of -0.01. The chart below compares the historical Sharpe Ratios of BP and NEXT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BP vs. NEXT - Drawdown Comparison

The maximum BP drawdown since its inception was -74.94%, smaller than the maximum NEXT drawdown of -88.79%. Use the drawdown chart below to compare losses from any high point for BP and NEXT.

Drawdown Indicators

	BP	NEXT	Difference
Max Drawdown Largest peak-to-trough decline	-74.94%	-88.79%	+13.85%
Max Drawdown (1Y) Largest decline over 1 year	-11.68%	-60.00%	+48.32%
Max Drawdown (3Y) Largest decline over 3 years	-30.63%	-60.00%	+29.37%
Max Drawdown (5Y) Largest decline over 5 years	-30.63%	-60.00%	+29.37%
Max Drawdown (10Y) Largest decline over 10 years	-63.91%	-88.79%	+24.88%
Current Drawdown Current decline from peak	-9.15%	-30.00%	+20.85%
Average Drawdown Average peak-to-trough decline	-25.26%	-39.02%	+13.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.21%	41.06%	-36.85%

Volatility

BP vs. NEXT - Volatility Comparison

The current volatility for BP p.l.c. (BP) is 8.25%, while NextDecade Corporation (NEXT) has a volatility of 13.03%. This indicates that BP experiences smaller price fluctuations and is considered to be less risky than NEXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BP	NEXT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.25%	13.03%	-4.78%
Volatility (6M) Calculated over the trailing 6-month period	22.05%	45.77%	-23.72%
Volatility (1Y) Calculated over the trailing 1-year period	26.83%	63.89%	-37.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.62%	75.76%	-47.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.27%	87.05%	-55.78%

Dividends

BP vs. NEXT - Dividend Comparison

BP's dividend yield for the trailing twelve months is around 4.67%, while NEXT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BP BP p.l.c.	4.67%	5.64%	6.20%	4.71%	3.94%	4.83%	9.21%	6.52%	6.41%	5.66%	6.37%	7.63%
NEXT NextDecade Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both BP and NEXT in my portfolio?

BP and NEXT have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BP or NEXT?

NEXT has higher volatility (13.03%) compared to BP (8.25%). In terms of maximum drawdown, BP dropped -74.94% vs NEXT's -88.79%.

Which has better risk-adjusted returns?

BP currently has the higher Sharpe Ratio (1.72 vs -0.01), 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.