NEXT vs. AR
NEXT (NextDecade Corporation) and AR (Antero Resources Corporation) are both stocks. Both operate in the Oil & Gas E&P industry within the Energy sector. Over the past 10 years, NEXT returned -2.98%/yr vs 2.20%/yr for AR. At a 0.25 correlation, their price movements are largely independent.
Performance
NEXT vs. AR - Performance Comparison
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Returns By Period
In the year-to-date period, NEXT achieves a 40.61% return, which is significantly higher than AR's -1.25% return. Over the past 10 years, NEXT has underperformed AR with an annualized return of -2.98%, while AR has yielded a comparatively higher 2.20% annualized return.
NEXT
- 1D
- 0.82%
- 1M
- -12.41%
- YTD
- 40.61%
- 6M
- 35.22%
- 1Y
- -12.20%
- 3Y*
- -2.24%
- 5Y*
- 10.20%
- 10Y*
- -2.98%
AR
- 1D
- 2.44%
- 1M
- -7.40%
- YTD
- -1.25%
- 6M
- 1.22%
- 1Y
- -22.27%
- 3Y*
- 16.98%
- 5Y*
- 19.20%
- 10Y*
- 2.20%
NEXT vs. AR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NEXT NextDecade Corporation | 40.61% | -31.65% | 61.64% | -3.44% | 73.33% | 36.36% | -65.96% | 13.70% | -35.10% | -17.79% |
AR Antero Resources Corporation | -1.25% | -1.68% | 54.54% | -26.82% | 77.09% | 221.10% | 91.23% | -69.65% | -50.58% | -19.66% |
Correlation
The correlation between NEXT and AR is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2015 | 0.25 |
The correlation between NEXT and AR shifts across timeframes, from 0.25 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
NEXT:
$1.96B
AR:
$10.60B
NEXT:
-$1.35
AR:
$3.08
NEXT:
$0.00
AR:
$5.76B
NEXT:
-$15.67M
AR:
$2.60B
NEXT:
-$271.66M
AR:
$1.82B
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Return for Risk
NEXT vs. AR — Risk / Return Rank
NEXT
AR
NEXT vs. AR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NextDecade Corporation (NEXT) and Antero Resources Corporation (AR). 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.
| NEXT | AR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.93 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | -0.76 | +0.55 |
| Martin ratioReturn relative to average drawdown | -0.30 | -1.16 | +0.87 |
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Drawdowns
NEXT vs. AR - Drawdown Comparison
The maximum NEXT drawdown since its inception was -88.79%, smaller than the maximum AR drawdown of -99.01%. Use the drawdown chart below to compare losses from any high point for NEXT and AR.
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Drawdown Indicators
| NEXT | AR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.79% | -99.01% | +10.22% |
Max Drawdown (1Y)Largest decline over 1 year | -60.00% | -29.47% | -30.53% |
Max Drawdown (3Y)Largest decline over 3 years | -60.00% | -33.19% | -26.81% |
Max Drawdown (5Y)Largest decline over 5 years | -60.00% | -58.39% | -1.61% |
Max Drawdown (10Y)Largest decline over 10 years | -88.79% | -97.61% | +8.82% |
Current DrawdownCurrent decline from peak | -38.25% | -49.52% | +11.27% |
Average DrawdownAverage peak-to-trough decline | -39.02% | -61.31% | +22.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.40% | 21.11% | +20.29% |
Volatility
NEXT vs. AR - Volatility Comparison
NextDecade Corporation (NEXT) has a higher volatility of 17.41% compared to Antero Resources Corporation (AR) at 10.00%. This indicates that NEXT's price experiences larger fluctuations and is considered to be riskier than AR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NEXT | AR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.41% | 10.00% | +7.41% |
Volatility (6M)Calculated over the trailing 6-month period | 47.10% | 26.86% | +20.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.44% | 38.87% | +26.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.86% | 48.18% | +27.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.21% | 60.73% | +26.48% |
Dividends
NEXT vs. AR - Dividend Comparison
Neither NEXT nor AR has paid dividends to shareholders.
Financials
NEXT vs. AR - Financials Comparison
This section allows you to compare key financial metrics between NextDecade Corporation and Antero Resources 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
NEXT and AR have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NEXT has higher volatility (17.41%) compared to AR (10.00%). In terms of maximum drawdown, NEXT dropped -88.79% vs AR's -99.01%.
NEXT currently has the higher Sharpe Ratio (-0.19 vs -0.58), 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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