FSM vs. NEXT
FSM (Fortuna Silver Mines Inc.) and NEXT (NextDecade Corporation) are both stocks. FSM operates in Silver (Basic Materials), while NEXT operates in Oil & Gas E&P (Energy). Over the past 10 years, FSM returned 3.63%/yr vs -1.71%/yr for NEXT. At a 0.08 correlation, their price movements are largely independent.
Performance
FSM vs. NEXT - Performance Comparison
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Returns By Period
In the year-to-date period, FSM achieves a -8.97% return, which is significantly lower than NEXT's 59.39% return. Over the past 10 years, FSM has outperformed NEXT with an annualized return of 3.63%, while NEXT has yielded a comparatively lower -1.71% annualized return.
FSM
- 1D
- 3.72%
- 1M
- -16.46%
- YTD
- -8.97%
- 6M
- -8.69%
- 1Y
- 29.80%
- 3Y*
- 38.24%
- 5Y*
- 6.23%
- 10Y*
- 3.63%
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%
FSM vs. NEXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSM Fortuna Silver Mines Inc. | -8.97% | 128.67% | 11.14% | 2.93% | -3.85% | -52.67% | 101.96% | 12.09% | -30.27% | -7.61% |
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 FSM and NEXT is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2015 | 0.08 |
The correlation between FSM and NEXT shifts across timeframes, from -0.12 (1 year) to 0.14 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
FSM:
$2.97B
NEXT:
$2.23B
FSM:
$1.06
NEXT:
-$1.35
FSM:
$1.10B
NEXT:
$0.00
FSM:
$598.05M
NEXT:
-$15.67M
FSM:
$743.42M
NEXT:
-$271.66M
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Return for Risk
FSM vs. NEXT — Risk / Return Rank
FSM
NEXT
FSM vs. NEXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fortuna Silver Mines Inc. (FSM) 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.
| FSM | NEXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.06 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.73 | -0.01 | +0.74 |
| Martin ratioReturn relative to average drawdown | 1.87 | -0.01 | +1.89 |
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Drawdowns
FSM vs. NEXT - Drawdown Comparison
The maximum FSM drawdown since its inception was -92.25%, roughly equal to the maximum NEXT drawdown of -88.79%. Use the drawdown chart below to compare losses from any high point for FSM and NEXT.
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Drawdown Indicators
| FSM | NEXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.25% | -88.79% | -3.46% |
Max Drawdown (1Y)Largest decline over 1 year | -40.78% | -60.00% | +19.22% |
Max Drawdown (3Y)Largest decline over 3 years | -40.78% | -60.00% | +19.22% |
Max Drawdown (5Y)Largest decline over 5 years | -68.24% | -60.00% | -8.24% |
Max Drawdown (10Y)Largest decline over 10 years | -81.07% | -88.79% | +7.72% |
Current DrawdownCurrent decline from peak | -34.63% | -30.00% | -4.63% |
Average DrawdownAverage peak-to-trough decline | -45.15% | -39.02% | -6.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.94% | 41.06% | -25.12% |
Volatility
FSM vs. NEXT - Volatility Comparison
Fortuna Silver Mines Inc. (FSM) has a higher volatility of 18.09% compared to NextDecade Corporation (NEXT) at 13.03%. This indicates that FSM'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
| FSM | NEXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.09% | 13.03% | +5.06% |
Volatility (6M)Calculated over the trailing 6-month period | 45.78% | 45.77% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.67% | 63.89% | -6.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.48% | 75.76% | -18.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.50% | 87.05% | -27.55% |
Dividends
FSM vs. NEXT - Dividend Comparison
Neither FSM nor NEXT has paid dividends to shareholders.
Financials
FSM vs. NEXT - Financials Comparison
This section allows you to compare key financial metrics between Fortuna Silver Mines 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
FSM and NEXT have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSM has higher volatility (18.09%) compared to NEXT (13.03%). In terms of maximum drawdown, FSM dropped -92.25% vs NEXT's -88.79%.
FSM currently has the higher Sharpe Ratio (0.52 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.
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