NEXT Plc Correlations

NXGPF Stock

USD 123.41 0.00 0.00%

The current 90-days correlation between NEXT plc and Guess Inc is 0.04 (i.e., Significant diversification). The correlation of NEXT Plc is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

NEXT Plc Correlation With Market

Significant diversification

The correlation between NEXT plc and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NEXT plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to NEXT Plc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NEXT Plc when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back NEXT Plc - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling NEXT plc to buy it.

Moving together with NEXT Pink Sheet

0.74	TJX	TJX Companies Sell-off Trend	Pair Corr
0.61	ROST	Ross Stores	Pair Corr
0.82	LULU	Lululemon Athletica	Pair Corr
0.72	LGCY	Legacy Education	Pair Corr
0.89	AAPL	Apple Inc Aggressive Push	Pair Corr
0.76	MSFT	Microsoft	Pair Corr
0.82	AMZN	Amazon Inc	Pair Corr
0.68	GOOG	Alphabet Class C	Pair Corr
0.77	META	Meta Platforms	Pair Corr
0.82	KRMD	Repro Med Systems	Pair Corr
0.66	VEST	Vestiage	Pair Corr
0.71	PWSC	Powerschool Holdings	Pair Corr
0.7	DTST	Data Storage Corp	Pair Corr
0.65	LFCR	Lifecore Biomedical	Pair Corr
0.69	C	Citigroup Fiscal Year End 10th of January 2025	Pair Corr
0.84	CDTX	Cidara Therapeutics	Pair Corr
0.67	FMCCM	Federal Home Loan	Pair Corr

Moving against NEXT Pink Sheet

0.33	IDEXY	Industria de Diseno	Pair Corr
0.33	IDEXF	Industria de Diseo	Pair Corr
0.34	AMMJ	American Cannabis	Pair Corr
0.34	BRKHU	BurTech Acquisition Corp	Pair Corr
0.44	BPTH	Bio Path Holdings	Pair Corr
0.32	TWG	Top Wealth Group	Pair Corr

Related Correlations Analysis

	ATZAF	BOOT	GES	TJX	SCVL	GCO	ROST	BURL	AEO
ATZAF		0.52	0.21	0.11	0.42	0.19	0.43	0.25	0.23	ATZAF
BOOT	0.52		0.67	-0.21	0.67	-0.17	0.37	-0.12	0.63	BOOT
GES	0.21	0.67		-0.59	0.8	-0.73	-0.1	-0.55	0.91	GES
TJX	0.11	-0.21	-0.59		-0.4	0.84	0.72	0.95	-0.58	TJX
SCVL	0.42	0.67	0.8	-0.4		-0.48	0.1	-0.28	0.69	SCVL
GCO	0.19	-0.17	-0.73	0.84	-0.48		0.6	0.82	-0.67	GCO
ROST	0.43	0.37	-0.1	0.72	0.1	0.6		0.77	-0.06	ROST
BURL	0.25	-0.12	-0.55	0.95	-0.28	0.82	0.77		-0.56	BURL
AEO	0.23	0.63	0.91	-0.58	0.69	-0.67	-0.06	-0.56		AEO
	ATZAF	BOOT	GES	TJX	SCVL	GCO	ROST	BURL	AEO

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BURL	+ 0.95	TJX
AEO	+ 0.91	GES
GCO	+ 0.84	TJX
BURL	+ 0.82	GCO
SCVL	+ 0.8	GES
BURL	+ 0.77	ROST

High negative correlations

GCO	- 0.73	GES
AEO	- 0.67	GCO
TJX	- 0.59	GES
AEO	- 0.58	TJX
AEO	- 0.56	BURL
BURL	- 0.55	GES

Risk-Adjusted Indicators

There is a big difference between NEXT Pink Sheet performing well and NEXT Plc Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze NEXT Plc's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ATZAF	2.57	0.24	0.05	(0.49)	4.00	(3.07)	5.70	(4.26)	28.58
BOOT	1.85	(0.15)	0.00	(0.22)	0.00	0.00	4.24	(3.12)	22.20
GES	1.97	(0.45)	0.00	(0.28)	0.00	0.00	3.45	(4.17)	11.09
TJX	0.66	0.03	0.03	0.08	0.77	(0.70)	1.42	(1.24)	4.21
SCVL	2.01	(0.43)	0.00	(0.22)	0.00	0.00	3.73	(5.49)	12.45
GCO	2.87	0.51	0.18	0.26	2.63	(3.22)	8.39	(3.81)	16.98
ROST	1.03	(0.06)	0.00	(0.12)	0.00	0.00	2.19	(2.62)	7.28
BURL	1.39	0.05	0.02	0.09	1.96	(1.31)	2.37	(3.05)	7.93
AEO	1.92	(0.26)	0.00	(0.20)	0.00	0.00	3.59	(4.23)	20.34

Be your own money manager

Our tools can tell you how much better you can do entering a position in NEXT Plc without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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