CSIQ vs. NXT
CSIQ (Canadian Solar Inc.) and NXT (Nextracker Inc) are both stocks. Both operate in the Solar industry within the Technology sector. Over the past 3 years, CSIQ returned -23.33%/yr vs 42.45%/yr for NXT. At a 0.48 correlation, their price movements are largely independent.
Performance
CSIQ vs. NXT - Performance Comparison
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Returns By Period
In the year-to-date period, CSIQ achieves a -29.62% return, which is significantly lower than NXT's 39.92% return.
CSIQ
- 1D
- 6.15%
- 1M
- -6.43%
- YTD
- -29.62%
- 6M
- -26.14%
- 1Y
- 51.54%
- 3Y*
- -23.33%
- 5Y*
- -16.11%
- 10Y*
- 0.54%
NXT
- 1D
- 1.84%
- 1M
- -15.53%
- YTD
- 39.92%
- 6M
- 40.50%
- 1Y
- 100.76%
- 3Y*
- 42.45%
- 5Y*
- —
- 10Y*
- —
CSIQ vs. NXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CSIQ Canadian Solar Inc. | -29.62% | 113.76% | -57.61% | -33.91% |
NXT Nextracker Inc | 39.92% | 138.46% | -22.03% | 54.57% |
Correlation
The correlation between CSIQ and NXT is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2023 | 0.48 |
Fundamentals
CSIQ:
$1.13B
NXT:
$18.85B
CSIQ:
-$1.51
NXT:
$3.83
CSIQ:
0.21
NXT:
5.23
CSIQ:
0.40
NXT:
8.08
CSIQ:
$5.48B
NXT:
$3.56B
CSIQ:
$1.16B
NXT:
$1.16B
CSIQ:
$398.75M
NXT:
$731.65M
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Return for Risk
CSIQ vs. NXT — Risk / Return Rank
CSIQ
NXT
CSIQ vs. NXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Solar Inc. (CSIQ) and Nextracker Inc (NXT). 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.
| CSIQ | NXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.27 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 3.72 | -2.88 |
| Martin ratioReturn relative to average drawdown | 1.55 | 9.21 | -7.66 |
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Drawdowns
CSIQ vs. NXT - Drawdown Comparison
The maximum CSIQ drawdown since its inception was -96.02%, which is greater than NXT's maximum drawdown of -48.61%. Use the drawdown chart below to compare losses from any high point for CSIQ and NXT.
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Drawdown Indicators
| CSIQ | NXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.02% | -48.61% | -47.41% |
Max Drawdown (1Y)Largest decline over 1 year | -63.94% | -28.42% | -35.52% |
Max Drawdown (3Y)Largest decline over 3 years | -83.64% | -48.61% | -35.03% |
Max Drawdown (5Y)Largest decline over 5 years | -85.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -89.46% | — | — |
Current DrawdownCurrent decline from peak | -73.92% | -22.07% | -51.85% |
Average DrawdownAverage peak-to-trough decline | -61.09% | -15.35% | -45.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.64% | 11.45% | +23.19% |
Volatility
CSIQ vs. NXT - Volatility Comparison
Canadian Solar Inc. (CSIQ) and Nextracker Inc (NXT) have volatilities of 29.76% and 28.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSIQ | NXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.76% | 28.43% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 66.26% | 50.28% | +15.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 96.01% | 65.83% | +30.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.09% | 60.76% | +11.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.75% | 60.76% | +2.99% |
Dividends
CSIQ vs. NXT - Dividend Comparison
Neither CSIQ nor NXT has paid dividends to shareholders.
Financials
CSIQ vs. NXT - Financials Comparison
This section allows you to compare key financial metrics between Canadian Solar Inc. and Nextracker Inc. 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
CSIQ vs. NXT - Profitability Comparison
CSIQ - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Canadian Solar Inc. reported a gross profit of 270.82M and revenue of 1.08B. Therefore, the gross margin over that period was 25.1%.
NXT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Nextracker Inc reported a gross profit of 297.38M and revenue of 880.52M. Therefore, the gross margin over that period was 33.8%.
CSIQ - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Canadian Solar Inc. reported an operating income of 72.87M and revenue of 1.08B, resulting in an operating margin of 6.8%.
NXT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Nextracker Inc reported an operating income of 153.59M and revenue of 880.52M, resulting in an operating margin of 17.4%.
CSIQ - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Canadian Solar Inc. reported a net income of -32.09M and revenue of 1.08B, resulting in a net margin of -3.0%.
NXT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Nextracker Inc reported a net income of 150.60M and revenue of 880.52M, resulting in a net margin of 17.1%.
Frequently Asked Questions
CSIQ and NXT have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CSIQ has higher volatility (29.76%) compared to NXT (28.43%). In terms of maximum drawdown, CSIQ dropped -96.02% vs NXT's -48.61%.
NXT currently has the higher Sharpe Ratio (1.61 vs 0.56), 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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