LAC vs. NEXT

Last updated Jun 9, 2026

LAC (Lithium Americas Corp.) and NEXT (NextDecade Corporation) are both stocks. LAC operates in Other Industrial Metals & Mining (Basic Materials), while NEXT operates in Oil & Gas E&P (Energy). Over the past year, LAC returned 68.89% vs 1.81% for NEXT. At a 0.17 correlation, their price movements are largely independent.

Performance

LAC vs. NEXT - Performance Comparison

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

Returns By Period

In the year-to-date period, LAC achieves a 4.59% return, which is significantly lower than NEXT's 60.53% return.

LAC

• 1D: 0.66%
• 1M: -18.13%
• YTD: 4.59%
• 6M: -14.12%
• 1Y: 68.89%
• 3Y*: —
• 5Y*: —
• 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%

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

LAC vs. NEXT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LAC Lithium Americas Corp.	4.59%	46.80%	-53.59%	-27.19%
NEXT NextDecade Corporation	60.53%	-31.65%	61.64%	-6.84%

Correlation

The correlation between LAC and NEXT is 0.06, 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	0.06
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.17

The correlation between LAC and NEXT shifts across timeframes, from 0.06 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap LAC : $1.61B NEXT : $2.24B
EPS LAC : -$0.28 NEXT : -$1.35
Total Revenue (TTM) LAC : $0.00 NEXT : $0.00
Gross Profit (TTM) LAC : -$580.22K NEXT : -$15.67M
EBITDA (TTM) LAC : -$52.10M NEXT : -$271.66M

Return for Risk

LAC vs. NEXT — Risk / Return Rank

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

LAC

LAC Risk / Return Rank: 68
LAC Sharpe Ratio Rank: 61
LAC Sortino Ratio Rank: 79
LAC Omega Ratio Rank: 74
LAC Calmar Ratio Rank: 64
LAC Martin Ratio Rank: 59

NEXT

NEXT Risk / Return Rank: 43
NEXT Sharpe Ratio Rank: 44
NEXT Sortino Ratio Rank: 43
NEXT Omega Ratio Rank: 43
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.

LAC vs. NEXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lithium Americas Corp. (LAC) 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.

	LAC	NEXT	Difference
Sharpe ratio: Return per unit of total volatility	0.53	0.03	+0.50
Sortino ratio: Return per unit of downside risk	2.16	0.51	+1.66
Omega ratio: Gain probability vs. loss probability	1.25	1.06	+0.18
Calmar ratio: Return relative to maximum drawdown	1.10	0.03	+1.07
Martin ratio: Return relative to average drawdown	1.69	0.04	+1.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LAC vs. NEXT - Sharpe Ratio Comparison

The current LAC Sharpe Ratio is 0.53, which is higher than the NEXT Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of LAC 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.

Sharpe Ratios by Period

	LAC	NEXT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.53	0.03	+0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.19	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.02	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.26	-0.02	-0.24

Drawdowns

LAC vs. NEXT - Drawdown Comparison

The maximum LAC drawdown since its inception was -81.83%, smaller than the maximum NEXT drawdown of -88.79%. Use the drawdown chart below to compare losses from any high point for LAC and NEXT.

Drawdown Indicators

	LAC	NEXT	Difference
Max Drawdown Largest peak-to-trough decline	-81.83%	-88.79%	+6.96%
Max Drawdown (1Y) Largest decline over 1 year	-63.08%	-60.00%	-3.08%
Max Drawdown (3Y) Largest decline over 3 years	—	-60.00%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-60.00%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-88.79%	—
Current Drawdown Current decline from peak	-61.09%	-29.50%	-31.59%
Average Drawdown Average peak-to-trough decline	-63.22%	-39.04%	-24.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.87%	40.88%	-0.01%

Volatility

LAC vs. NEXT - Volatility Comparison

Lithium Americas Corp. (LAC) has a higher volatility of 21.31% compared to NextDecade Corporation (NEXT) at 14.18%. This indicates that LAC'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.

Volatility by Period

	LAC	NEXT	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.31%	14.18%	+7.13%
Volatility (6M) Calculated over the trailing 6-month period	52.78%	46.34%	+6.44%
Volatility (1Y) Calculated over the trailing 1-year period	132.10%	63.74%	+68.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	101.33%	76.46%	+24.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	101.33%	87.06%	+14.27%

Dividends

LAC vs. NEXT - Dividend Comparison

Neither LAC nor NEXT has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both LAC and NEXT in my portfolio?

LAC and NEXT have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LAC or NEXT?

LAC has higher volatility (21.31%) compared to NEXT (14.18%). In terms of maximum drawdown, LAC dropped -81.83% vs NEXT's -88.79%.

Which has better risk-adjusted returns?

LAC currently has the higher Sharpe Ratio (0.53 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.