NXT.L vs. CCH.L

Last updated Jun 4, 2026

NXT.L (Next plc) and CCH.L (Coca Cola HBC AG) are both stocks. NXT.L operates in Apparel Retail (Consumer Cyclical), while CCH.L operates in Beverages - Non-Alcoholic (Consumer Defensive). Over the past 10 years, NXT.L returned 13.29%/yr vs 15.80%/yr for CCH.L. At a 0.27 correlation, their price movements are largely independent.

Performance

NXT.L vs. CCH.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Next plc (NXT.L) and Coca Cola HBC AG (CCH.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NXT.L achieves a 0.02% return, which is significantly lower than CCH.L's 11.88% return. Over the past 10 years, NXT.L has underperformed CCH.L with an annualized return of 13.29%, while CCH.L has yielded a comparatively higher 15.80% annualized return.

NXT.L

• 1D: 1.33%
• 1M: 2.50%
• YTD: 0.02%
• 6M: -3.66%
• 1Y: 8.06%
• 3Y*: 31.21%
• 5Y*: 13.87%
• 10Y*: 13.29%

CCH.L

• 1D: -0.52%
• 1M: -0.33%
• YTD: 11.88%
• 6M: 16.18%
• 1Y: 10.39%
• 3Y*: 23.79%
• 5Y*: 13.52%
• 10Y*: 15.80%

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

NXT.L vs. CCH.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NXT.L Next plc	0.02%	46.85%	19.71%	43.86%	-24.92%	16.60%	0.97%	81.00%	-8.33%	-2.52%
CCH.L Coca Cola HBC AG	11.88%	43.89%	22.12%	20.07%	-20.11%	9.79%	-4.81%	12.76%	3.22%	38.99%

Correlation

The correlation between NXT.L and CCH.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Apr 30, 2013	0.27

Fundamentals

Market Cap NXT.L : £16.32B CCH.L : £15.27B
EPS NXT.L : £11.72 CCH.L : £4.84
PE Ratio NXT.L : 11.37 CCH.L : 8.66
PEG Ratio NXT.L : 1.14 CCH.L : 0.48
PS Ratio NXT.L : 1.42 CCH.L : 0.68
PB Ratio NXT.L : 9.82 CCH.L : 3.97
Total Revenue (TTM) NXT.L : £11.39B CCH.L : £22.35B
Gross Profit (TTM) NXT.L : £5.00B CCH.L : £8.14B
EBITDA (TTM) NXT.L : £2.41B CCH.L : £3.00B

Return for Risk

NXT.L vs. CCH.L — Risk / Return Rank

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

NXT.L

NXT.L Risk / Return Rank: 50
NXT.L Sharpe Ratio Rank: 53
NXT.L Sortino Ratio Rank: 46
NXT.L Omega Ratio Rank: 46
NXT.L Calmar Ratio Rank: 53
NXT.L Martin Ratio Rank: 54

CCH.L

CCH.L Risk / Return Rank: 52
CCH.L Sharpe Ratio Rank: 56
CCH.L Sortino Ratio Rank: 49
CCH.L Omega Ratio Rank: 48
CCH.L Calmar Ratio Rank: 53
CCH.L Martin Ratio Rank: 53

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.

NXT.L vs. CCH.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Next plc (NXT.L) and Coca Cola HBC AG (CCH.L). 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.

	NXT.L	CCH.L	Difference
Sharpe ratio Return per unit of total volatility	0.35	0.46	-0.11
Sortino ratio Return per unit of downside risk	0.69	0.81	-0.12
Omega ratio Gain probability vs. loss probability	1.09	1.10	-0.02
Calmar ratio Return relative to maximum drawdown	0.54	0.57	-0.04
Martin ratio Return relative to average drawdown	1.29	1.20	+0.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NXT.L vs. CCH.L - Sharpe Ratio Comparison

The current NXT.L Sharpe Ratio is 0.35, which is comparable to the CCH.L Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of NXT.L and CCH.L, 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

	NXT.L	CCH.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.35	0.46	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.57	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	0.60	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.38	+0.10

Drawdowns

NXT.L vs. CCH.L - Drawdown Comparison

The maximum NXT.L drawdown since its inception was -91.55%, which is greater than CCH.L's maximum drawdown of -48.45%. Use the drawdown chart below to compare losses from any high point for NXT.L and CCH.L.

Drawdown Indicators

	NXT.L	CCH.L	Difference
Max Drawdown Largest peak-to-trough decline	-91.55%	-48.45%	-43.10%
Max Drawdown (1Y) Largest decline over 1 year	-14.96%	-18.05%	+3.09%
Max Drawdown (3Y) Largest decline over 3 years	-14.96%	-18.05%	+3.09%
Max Drawdown (5Y) Largest decline over 5 years	-45.80%	-47.54%	+1.74%
Max Drawdown (10Y) Largest decline over 10 years	-53.81%	-48.45%	-5.36%
Current Drawdown Current decline from peak	-5.58%	-11.37%	+5.79%
Average Drawdown Average peak-to-trough decline	-17.07%	-14.56%	-2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.23%	8.63%	-2.40%

Volatility

NXT.L vs. CCH.L - Volatility Comparison

Next plc (NXT.L) has a higher volatility of 8.26% compared to Coca Cola HBC AG (CCH.L) at 6.58%. This indicates that NXT.L's price experiences larger fluctuations and is considered to be riskier than CCH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NXT.L	CCH.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.26%	6.58%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	16.63%	16.65%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	23.13%	22.57%	+0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.31%	23.83%	+2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.22%	26.25%	+4.97%

Dividends

NXT.L vs. CCH.L - Dividend Comparison

NXT.L's dividend yield for the trailing twelve months is around 4.54%, more than CCH.L's 2.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CCH.L Coca Cola HBC AG	2.47%	2.32%	2.94%	2.93%	3.11%	2.17%	2.26%	8.66%	1.90%	1.57%	1.95%	2.15%
NXT.L Next plc	4.54%	1.79%	2.27%	2.54%	6.08%	1.35%	0.00%	2.39%	5.14%	6.48%	4.37%	5.25%

Financials

NXT.L vs. CCH.L - Profitability Comparison

The chart below illustrates the profitability comparison between Next plc and Coca Cola HBC AG over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NXT.L - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Next plc reported a gross profit of 1.68B and revenue of 3.76B. Therefore, the gross margin over that period was 44.6%.

CCH.L - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Coca Cola HBC AG reported a gross profit of 2.20B and revenue of 5.98B. Therefore, the gross margin over that period was 36.8%.

NXT.L - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Next plc reported an operating income of 730.10M and revenue of 3.76B, resulting in an operating margin of 19.4%.

CCH.L - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Coca Cola HBC AG reported an operating income of 654.01M and revenue of 5.98B, resulting in an operating margin of 10.9%.

NXT.L - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Next plc reported a net income of 509.00M and revenue of 3.76B, resulting in a net margin of 13.6%.

CCH.L - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Coca Cola HBC AG reported a net income of 469.16M and revenue of 5.98B, resulting in a net margin of 7.9%.

Frequently Asked Questions

Can I hold both NXT.L and CCH.L in my portfolio?

NXT.L and CCH.L have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.