EDT.TO vs. NEXT.TO

Last updated Jun 5, 2026

EDT.TO (Spectral Medical Inc.) and NEXT.TO (NextSource Materials Inc.) are both stocks. EDT.TO operates in Diagnostics & Research (Healthcare), while NEXT.TO operates in Other Industrial Metals & Mining (Basic Materials). Over the past 10 years, EDT.TO returned 3.92%/yr vs -7.17%/yr for NEXT.TO. At a 0.01 correlation, their price movements are largely independent.

Performance

EDT.TO vs. NEXT.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Spectral Medical Inc. (EDT.TO) and NextSource Materials Inc. (NEXT.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EDT.TO achieves a -2.08% return, which is significantly lower than NEXT.TO's 11.76% return. Over the past 10 years, EDT.TO has outperformed NEXT.TO with an annualized return of 3.92%, while NEXT.TO has yielded a comparatively lower -7.17% annualized return.

EDT.TO

• 1D: 1.44%
• 1M: 1.44%
• YTD: -2.08%
• 6M: 11.02%
• 1Y: 71.95%
• 3Y*: 66.59%
• 5Y*: 26.23%
• 10Y*: 3.92%

NEXT.TO

• 1D: -5.00%
• 1M: 15.15%
• YTD: 11.76%
• 6M: -7.32%
• 1Y: 46.15%
• 3Y*: -42.51%
• 5Y*: -35.56%
• 10Y*: -7.17%

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

EDT.TO vs. NEXT.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EDT.TO Spectral Medical Inc.	-2.08%	188.00%	17.65%	14.86%	68.18%	-45.68%	-43.75%	152.63%	-25.00%	38.18%
NEXT.TO NextSource Materials Inc.	11.76%	-53.42%	-39.17%	-56.04%	-16.26%	262.22%	100.00%	-50.00%	38.46%	-0.00%

Correlation

The correlation between EDT.TO and NEXT.TO is -0.02, 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	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (10Y) Calculated over the trailing 10-year period	0.01
Correlation (All Time) Calculated using the full available price history since May 6, 2010	0.01

Fundamentals

Market Cap EDT.TO : CA$413.46M NEXT.TO : CA$70.32M
EPS EDT.TO : -CA$0.13 NEXT.TO : -CA$0.22
PS Ratio EDT.TO : 147.69 NEXT.TO : 61.16
Total Revenue (TTM) EDT.TO : CA$2.76M NEXT.TO : CA$1.15M
Gross Profit (TTM) EDT.TO : -CA$2.19M NEXT.TO : -CA$10.68M
EBITDA (TTM) EDT.TO : -CA$35.21M NEXT.TO : -CA$37.40M

Return for Risk

EDT.TO vs. NEXT.TO — Risk / Return Rank

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

EDT.TO

EDT.TO Risk / Return Rank: 78
EDT.TO Sharpe Ratio Rank: 78
EDT.TO Sortino Ratio Rank: 85
EDT.TO Omega Ratio Rank: 79
EDT.TO Calmar Ratio Rank: 79
EDT.TO Martin Ratio Rank: 71

NEXT.TO

NEXT.TO Risk / Return Rank: 59
NEXT.TO Sharpe Ratio Rank: 57
NEXT.TO Sortino Ratio Rank: 63
NEXT.TO Omega Ratio Rank: 61
NEXT.TO Calmar Ratio Rank: 60
NEXT.TO Martin Ratio Rank: 55

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.

EDT.TO vs. NEXT.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spectral Medical Inc. (EDT.TO) and NextSource Materials Inc. (NEXT.TO). 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.

	EDT.TO	NEXT.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.32	0.46	+0.87
Sortino ratio: Return per unit of downside risk	2.70	1.39	+1.30
Omega ratio: Gain probability vs. loss probability	1.30	1.17	+0.14
Calmar ratio: Return relative to maximum drawdown	2.48	0.80	+1.68
Martin ratio: Return relative to average drawdown	3.90	1.38	+2.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EDT.TO vs. NEXT.TO - Sharpe Ratio Comparison

The current EDT.TO Sharpe Ratio is 1.32, which is higher than the NEXT.TO Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of EDT.TO and NEXT.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EDT.TO	NEXT.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	0.46	+0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	-0.44	+0.85
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.05	-0.07	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	-0.13	+0.06

Drawdowns

EDT.TO vs. NEXT.TO - Drawdown Comparison

The maximum EDT.TO drawdown since its inception was -99.64%, roughly equal to the maximum NEXT.TO drawdown of -97.46%. Use the drawdown chart below to compare losses from any high point for EDT.TO and NEXT.TO.

Drawdown Indicators

	EDT.TO	NEXT.TO	Difference
Max Drawdown Largest peak-to-trough decline	-99.64%	-97.46%	-2.18%
Max Drawdown (1Y) Largest decline over 1 year	-29.14%	-58.06%	+28.92%
Max Drawdown (3Y) Largest decline over 3 years	-40.30%	-92.49%	+52.19%
Max Drawdown (5Y) Largest decline over 5 years	-60.19%	-96.47%	+36.28%
Max Drawdown (10Y) Largest decline over 10 years	-89.95%	-96.67%	+6.72%
Current Drawdown Current decline from peak	-93.07%	-93.97%	+0.90%
Average Drawdown Average peak-to-trough decline	-92.40%	-74.54%	-17.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.49%	33.69%	-15.20%

Volatility

EDT.TO vs. NEXT.TO - Volatility Comparison

The current volatility for Spectral Medical Inc. (EDT.TO) is 8.84%, while NextSource Materials Inc. (NEXT.TO) has a volatility of 17.84%. This indicates that EDT.TO experiences smaller price fluctuations and is considered to be less risky than NEXT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EDT.TO	NEXT.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.84%	17.84%	-9.00%
Volatility (6M) Calculated over the trailing 6-month period	27.17%	59.86%	-32.69%
Volatility (1Y) Calculated over the trailing 1-year period	54.67%	101.28%	-46.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	64.77%	81.02%	-16.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.77%	104.12%	-25.35%

Dividends

EDT.TO vs. NEXT.TO - Dividend Comparison

Neither EDT.TO nor NEXT.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both EDT.TO and NEXT.TO in my portfolio?

EDT.TO and NEXT.TO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.