NEXT.TO vs. EDT.TO

Last updated Jun 5, 2026

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

Performance

NEXT.TO vs. EDT.TO - Performance Comparison

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

Returns By Period

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

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%

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%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

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

Return for Risk

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

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

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

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

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.

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

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

	NEXT.TO	EDT.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.46	1.32	-0.87
Sortino ratio: Return per unit of downside risk	1.39	2.70	-1.30
Omega ratio: Gain probability vs. loss probability	1.17	1.30	-0.14
Calmar ratio: Return relative to maximum drawdown	0.80	2.48	-1.68
Martin ratio: Return relative to average drawdown	1.38	3.90	-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.

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

The current NEXT.TO Sharpe Ratio is 0.46, which is lower than the EDT.TO Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of NEXT.TO and EDT.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

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

Drawdowns

NEXT.TO vs. EDT.TO - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

NEXT.TO vs. EDT.TO - Volatility Comparison

NextSource Materials Inc. (NEXT.TO) has a higher volatility of 17.84% compared to Spectral Medical Inc. (EDT.TO) at 8.84%. This indicates that NEXT.TO's price experiences larger fluctuations and is considered to be riskier than EDT.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

Dividends

NEXT.TO vs. EDT.TO - Dividend Comparison

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

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

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

NEXT.TO and EDT.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.