MARA vs. NEXT
MARA (MARA Holdings, Inc.) and NEXT (NextDecade Corporation) are both stocks. MARA operates in Capital Markets (Financial Services), while NEXT operates in Oil & Gas E&P (Energy). Over the past 10 years, MARA returned -10.09%/yr vs -1.71%/yr for NEXT. At a 0.17 correlation, their price movements are largely independent.
Performance
MARA vs. NEXT - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with MARA having a 56.79% return and NEXT slightly higher at 59.39%. Over the past 10 years, MARA has underperformed NEXT with an annualized return of -10.09%, while NEXT has yielded a comparatively higher -1.71% annualized return.
MARA
- 1D
- 3.45%
- 1M
- 10.43%
- YTD
- 56.79%
- 6M
- 22.22%
- 1Y
- -11.00%
- 3Y*
- 13.30%
- 5Y*
- -11.91%
- 10Y*
- -10.09%
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%
MARA vs. NEXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MARA MARA Holdings, Inc. | 56.79% | -46.45% | -28.61% | 586.84% | -89.59% | 214.75% | 1,084.48% | -39.16% | -91.17% | -40.41% |
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 MARA and NEXT is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2015 | 0.17 |
Fundamentals
MARA:
$5.35B
NEXT:
$2.23B
MARA:
-$4.95
NEXT:
-$1.35
MARA:
$867.82M
NEXT:
$0.00
MARA:
$164.95M
NEXT:
-$15.67M
MARA:
$373.68M
NEXT:
-$271.66M
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Return for Risk
MARA vs. NEXT — Risk / Return Rank
MARA
NEXT
MARA vs. NEXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MARA Holdings, Inc. (MARA) 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.
| MARA | NEXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.06 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | -0.01 | -0.15 |
| Martin ratioReturn relative to average drawdown | -0.26 | -0.01 | -0.25 |
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Drawdowns
MARA vs. NEXT - Drawdown Comparison
The maximum MARA drawdown since its inception was -99.74%, which is greater than NEXT's maximum drawdown of -88.79%. Use the drawdown chart below to compare losses from any high point for MARA and NEXT.
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Drawdown Indicators
| MARA | NEXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.74% | -88.79% | -10.95% |
Max Drawdown (1Y)Largest decline over 1 year | -70.53% | -60.00% | -10.53% |
Max Drawdown (3Y)Largest decline over 3 years | -78.34% | -60.00% | -18.34% |
Max Drawdown (5Y)Largest decline over 5 years | -95.87% | -60.00% | -35.87% |
Max Drawdown (10Y)Largest decline over 10 years | -99.20% | -88.79% | -10.41% |
Current DrawdownCurrent decline from peak | -90.90% | -30.00% | -60.90% |
Average DrawdownAverage peak-to-trough decline | -78.00% | -39.02% | -38.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.56% | 41.06% | +1.50% |
Volatility
MARA vs. NEXT - Volatility Comparison
MARA Holdings, Inc. (MARA) has a higher volatility of 23.71% compared to NextDecade Corporation (NEXT) at 13.03%. This indicates that MARA'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
| MARA | NEXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.71% | 13.03% | +10.68% |
Volatility (6M)Calculated over the trailing 6-month period | 60.50% | 45.77% | +14.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 79.29% | 63.89% | +15.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 105.98% | 75.76% | +30.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 144.15% | 87.05% | +57.10% |
Dividends
MARA vs. NEXT - Dividend Comparison
Neither MARA nor NEXT has paid dividends to shareholders.
Financials
MARA vs. NEXT - Financials Comparison
This section allows you to compare key financial metrics between MARA Holdings, 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
MARA and NEXT have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MARA has higher volatility (23.71%) compared to NEXT (13.03%). In terms of maximum drawdown, MARA dropped -99.74% vs NEXT's -88.79%.
NEXT currently has the higher Sharpe Ratio (-0.01 vs -0.14), 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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