TLRY vs. NEXT
TLRY (Tilray, Inc.) and NEXT (NextDecade Corporation) are both stocks. TLRY operates in Drug Manufacturers - Specialty & Generic (Healthcare), while NEXT operates in Oil & Gas E&P (Energy). Over the past 5 years, TLRY returned -52.17%/yr vs 14.49%/yr for NEXT. At a 0.18 correlation, their price movements are largely independent.
Performance
TLRY vs. NEXT - Performance Comparison
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Returns By Period
In the year-to-date period, TLRY achieves a -44.85% return, which is significantly lower than NEXT's 59.39% return.
TLRY
- 1D
- -2.73%
- 1M
- -8.79%
- YTD
- -44.85%
- 6M
- -59.01%
- 1Y
- 19.63%
- 3Y*
- -33.72%
- 5Y*
- -52.17%
- 10Y*
- —
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%
TLRY vs. NEXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TLRY Tilray, Inc. | -44.85% | -32.11% | -42.17% | -14.50% | -61.74% | -14.89% | -51.78% | -75.72% | 206.03% |
NEXT NextDecade Corporation | 59.39% | -31.65% | 61.64% | -3.44% | 73.33% | 36.36% | -65.96% | 13.70% | -14.42% |
Correlation
The correlation between TLRY and NEXT is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2018 | 0.18 |
The correlation between TLRY and NEXT shifts across timeframes, from 0.04 (1 year) to 0.20 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
TLRY:
-$25.09
NEXT:
-$1.35
TLRY:
$1.11B
NEXT:
$0.00
TLRY:
$307.02M
NEXT:
-$15.67M
TLRY:
-$1.84B
NEXT:
-$271.66M
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Return for Risk
TLRY vs. NEXT — Risk / Return Rank
TLRY
NEXT
TLRY vs. NEXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tilray, Inc. (TLRY) 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.
| TLRY | NEXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.06 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | -0.01 | +0.27 |
| Martin ratioReturn relative to average drawdown | 0.39 | -0.01 | +0.40 |
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Drawdowns
TLRY vs. NEXT - Drawdown Comparison
The maximum TLRY drawdown since its inception was -99.83%, which is greater than NEXT's maximum drawdown of -88.79%. Use the drawdown chart below to compare losses from any high point for TLRY and NEXT.
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Drawdown Indicators
| TLRY | NEXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.83% | -88.79% | -11.04% |
Max Drawdown (1Y)Largest decline over 1 year | -76.48% | -60.00% | -16.48% |
Max Drawdown (3Y)Largest decline over 3 years | -89.12% | -60.00% | -29.12% |
Max Drawdown (5Y)Largest decline over 5 years | -98.12% | -60.00% | -38.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -88.79% | — |
Current DrawdownCurrent decline from peak | -99.77% | -30.00% | -69.77% |
Average DrawdownAverage peak-to-trough decline | -91.39% | -39.02% | -52.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.61% | 41.06% | +9.55% |
Volatility
TLRY vs. NEXT - Volatility Comparison
Tilray, Inc. (TLRY) and NextDecade Corporation (NEXT) have volatilities of 12.56% and 13.03%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLRY | NEXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.56% | 13.03% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 62.66% | 45.77% | +16.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 131.30% | 63.89% | +67.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.87% | 75.76% | +19.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 111.86% | 87.05% | +24.81% |
Dividends
TLRY vs. NEXT - Dividend Comparison
Neither TLRY nor NEXT has paid dividends to shareholders.
Financials
TLRY vs. NEXT - Financials Comparison
This section allows you to compare key financial metrics between Tilray, 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
TLRY and NEXT have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NEXT has higher volatility (13.03%) compared to TLRY (12.56%). In terms of maximum drawdown, TLRY dropped -99.83% vs NEXT's -88.79%.
TLRY currently has the higher Sharpe Ratio (0.15 vs -0.01), 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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