Next PLC Correlations

NXGPY Stock

USD 64.90 0.00 0.00%

The current 90-days correlation between Next PLC ADR and American Eagle Outfitters is 0.08 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Next PLC Correlation With Market

Significant diversification

The correlation between Next PLC ADR and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Next PLC ADR 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 ADR to buy it.

Moving against Next Pink Sheet

0.79	MO	Altria Group	Pair Corr
0.7	KKR	KKR Co LP	Pair Corr
0.69	MCK	McKesson	Pair Corr
0.65	MACAU	Moringa Acquisition Corp	Pair Corr
0.65	DIS	Walt Disney	Pair Corr
0.63	GS	Goldman Sachs Group Earnings Call This Week	Pair Corr
0.61	PRMRF	Paramount Resources	Pair Corr
0.56	AIBBU	AIB Acquisition Corp	Pair Corr
0.53	TJX	TJX Companies	Pair Corr
0.47	RITM-PC	Rithm Capital Corp	Pair Corr
0.45	MC	Moelis	Pair Corr
0.43	FNMA	Federal National Mortgage Trending	Pair Corr
0.4	PME	Pingtan Marine Enterprise	Pair Corr
0.32	TSLA	Tesla Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.77	BEN	Franklin Resources	Pair Corr
0.74	CMA	Comerica Fiscal Year End 17th of January 2025	Pair Corr
0.72	CADE	Cadence Bancorp	Pair Corr
0.68	SNA	Snap On	Pair Corr
0.67	T	ATT Inc Sell-off Trend	Pair Corr
0.66	DPZ	Dominos Pizza Common	Pair Corr
0.62	PRA	ProAssurance	Pair Corr
0.62	ALL	Allstate	Pair Corr
0.62	UPST	Upstart Holdings	Pair Corr

Related Correlations Analysis

	RTMAF	CATO	LVLU	DLTH	AEO	CURV	LE	CTRN	DXLG
RTMAF		0.49	0.61	0.81	0.69	-0.77	0.75	-0.75	0.17	RTMAF
CATO	0.49		0.81	0.51	0.51	-0.57	0.58	-0.76	0.63	CATO
LVLU	0.61	0.81		0.72	0.77	-0.68	0.78	-0.76	0.61	LVLU
DLTH	0.81	0.51	0.72		0.81	-0.8	0.89	-0.77	0.21	DLTH
AEO	0.69	0.51	0.77	0.81		-0.71	0.89	-0.58	0.41	AEO
CURV	-0.77	-0.57	-0.68	-0.8	-0.71		-0.72	0.72	-0.18	CURV
LE	0.75	0.58	0.78	0.89	0.89	-0.72		-0.71	0.48	LE
CTRN	-0.75	-0.76	-0.76	-0.77	-0.58	0.72	-0.71		-0.32	CTRN
DXLG	0.17	0.63	0.61	0.21	0.41	-0.18	0.48	-0.32		DXLG
	RTMAF	CATO	LVLU	DLTH	AEO	CURV	LE	CTRN	DXLG

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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

LE	+ 0.89	DLTH
LE	+ 0.89	AEO
DLTH	+ 0.81	RTMAF
LVLU	+ 0.81	CATO
AEO	+ 0.81	DLTH
LE	+ 0.78	LVLU

High negative correlations

CURV	- 0.8	DLTH
CTRN	- 0.77	DLTH
CURV	- 0.77	RTMAF
CTRN	- 0.76	LVLU
CTRN	- 0.76	CATO
CTRN	- 0.75	RTMAF

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
RTMAF	0.73	(0.13)	0.00	(1.35)	0.00	0.00	1.03	(2.62)	14.21
CATO	3.70	(0.31)	0.00	0.25	0.00	0.00	7.10	(7.29)	33.92
LVLU	4.58	(0.38)	0.00	(0.10)	0.00	0.00	10.00	(10.62)	46.00
DLTH	2.25	(0.37)	0.00	(0.41)	0.00	0.00	4.16	(5.24)	15.28
AEO	1.80	(0.41)	0.00	(1.69)	0.00	0.00	3.55	(4.23)	20.34
CURV	3.58	0.90	0.14	1.73	5.54	(3.91)	7.58	(5.41)	41.48
LE	2.56	(0.30)	0.00	(1.40)	0.00	0.00	5.74	(6.36)	20.38
CTRN	2.34	0.48	0.17	0.60	2.55	(2.75)	5.76	(4.32)	21.30
DXLG	2.65	(0.09)	0.00	(0.11)	0.00	0.00	5.39	(5.33)	23.16

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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