NEXT vs. AVDL

Last updated Jun 9, 2026

NEXT (NextDecade Corporation) and AVDL (Avadel Pharmaceuticals plc) are both stocks. NEXT operates in Oil & Gas E&P (Energy), while AVDL operates in Drug Manufacturers - Specialty & Generic (Healthcare). At a 0.12 correlation, their price movements are largely independent.

Performance

NEXT vs. AVDL - Performance Comparison

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

Returns By Period

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%

AVDL

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NEXT vs. AVDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEXT NextDecade Corporation	60.53%	-31.65%	61.64%	-3.44%	73.33%	36.36%	-65.96%	13.70%	-35.10%	-17.79%
AVDL Avadel Pharmaceuticals plc	0.42%	105.04%	-25.57%	97.21%	-11.39%	20.96%	-11.52%	192.64%	-68.54%	-21.08%

Correlation

The correlation between NEXT and AVDL is 0.01, 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	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Jun 4, 2015	0.12

The correlation between NEXT and AVDL shifts across timeframes, from 0.01 (1 year) to 0.13 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap NEXT : $2.24B AVDL : $2.19B
EPS NEXT : -$1.35 AVDL : -$0.00
Total Revenue (TTM) NEXT : $0.00 AVDL : $248.52M
Gross Profit (TTM) NEXT : -$15.67M AVDL : $234.76M
EBITDA (TTM) NEXT : -$271.66M AVDL : $10.13M

Return for Risk

NEXT vs. AVDL — Risk / Return Rank

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

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.

NEXT vs. AVDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NextDecade Corporation (NEXT) and Avadel Pharmaceuticals plc (AVDL). 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	AVDL	Difference
Sharpe ratio: Return per unit of total volatility	0.03	—	—
Sortino ratio: Return per unit of downside risk	0.51	—	—
Omega ratio: Gain probability vs. loss probability	1.06	—	—
Calmar ratio: Return relative to maximum drawdown	0.03	—	—
Martin ratio: Return relative to average drawdown	0.04	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	NEXT	AVDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.03	—	—
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	-0.02	—	—

Drawdowns

Drawdown Indicators

	NEXT	AVDL	Difference
Max Drawdown Largest peak-to-trough decline	-88.79%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-60.00%	—	—
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	-29.50%	—	—
Average Drawdown Average peak-to-trough decline	-39.04%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	40.88%	—	—

Volatility

Volatility by Period

	NEXT	AVDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.18%	—	—
Volatility (6M) Calculated over the trailing 6-month period	46.34%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	63.74%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	76.46%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	87.06%	—	—

Dividends

NEXT vs. AVDL - Dividend Comparison

Neither NEXT nor AVDL has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both NEXT and AVDL in my portfolio?

NEXT and AVDL have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.