Nextracker Correlations
NXT Stock | 60.53 0.05 0.08% |
The current 90-days correlation between Nextracker Class A and Fortress Transp Infra is 0.1 (i.e., Average diversification). The correlation of Nextracker 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.
Nextracker Correlation With Market
Modest diversification
The correlation between Nextracker Class A and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nextracker Class A and DJI in the same portfolio, assuming nothing else is changed.
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Moving together with Nextracker Stock
0.85 | MMM | 3M Company | PairCorr |
0.92 | VMI | Valmont Industries Earnings Call This Week | PairCorr |
0.68 | GTEC | Greenland Acquisition | PairCorr |
0.85 | MVST | Microvast Holdings Buyout Trend | PairCorr |
0.92 | TOYO | TOYO Co, | PairCorr |
0.85 | J | Jacobs Solutions | PairCorr |
0.82 | R | Ryder System Earnings Call This Week | PairCorr |
0.92 | AL | Air Lease | PairCorr |
0.83 | AP | Ampco Pittsburgh | PairCorr |
0.82 | AZ | A2Z Smart Technologies | PairCorr |
0.89 | BA | Boeing | PairCorr |
0.8 | BE | Bloom Energy Corp | PairCorr |
0.79 | BV | BrightView Holdings | PairCorr |
0.9 | BW | Babcock Wilcox Enter | PairCorr |
0.92 | CP | Canadian Pacific Railway | PairCorr |
0.89 | CR | Crane Company | PairCorr |
0.93 | CW | Curtiss Wright | PairCorr |
0.91 | DE | Deere Company | PairCorr |
0.9 | DY | Dycom Industries | PairCorr |
0.82 | FA | First Advantage Corp | PairCorr |
0.66 | GD | General Dynamics Earnings Call This Week | PairCorr |
0.91 | GE | GE Aerospace Earnings Call This Week | PairCorr |
0.73 | HY | Hyster Yale Materials | PairCorr |
0.91 | IR | Ingersoll Rand | PairCorr |
0.84 | LZ | LegalZoom | PairCorr |
0.8 | NX | Quanex Building Products | PairCorr |
0.91 | PH | Parker Hannifin | PairCorr |
0.8 | PL | Planet Labs PBC | PairCorr |
0.89 | SB | Safe Bulkers Earnings Call This Week | PairCorr |
0.88 | TG | Tredegar | PairCorr |
Moving against Nextracker Stock
0.8 | MG | Mistras Group | PairCorr |
0.72 | NL | NL Industries | PairCorr |
0.38 | GP | GreenPower Motor | PairCorr |
0.7 | CODI-PA | Compass Diversified | PairCorr |
0.68 | DNOW | Now Inc | PairCorr |
0.68 | VCIG | VCI Global Limited | PairCorr |
0.63 | CODI-PB | Compass Diversified | PairCorr |
0.61 | CODI-PC | Compass Diversified | PairCorr |
0.56 | VATE | Innovate Corp | PairCorr |
0.34 | MKDWW | MKDWELL Tech Warrants | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Nextracker Stock performing well and Nextracker 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 Nextracker'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
FQVTF | 1.21 | 0.27 | 0.10 | 0.80 | 1.01 | 3.65 | 8.16 | |||
FTAI | 2.76 | 0.09 | 0.04 | 0.19 | 4.04 | 5.54 | 24.64 | |||
AL | 1.17 | 0.35 | 0.27 | 0.52 | 0.72 | 3.27 | 10.57 | |||
WVVIP | 1.90 | (0.09) | 0.00 | 0.97 | 0.00 | 3.89 | 12.04 | |||
STZ | 1.14 | (0.19) | 0.00 | (0.27) | 0.00 | 2.08 | 8.90 | |||
URI | 1.41 | 0.29 | 0.22 | 0.33 | 1.08 | 3.38 | 12.95 | |||
BUD | 0.83 | 0.16 | 0.01 | (1.04) | 0.82 | 1.97 | 5.49 |
Nextracker Corporate Executives
Elected by the shareholders, the Nextracker's board of directors comprises two types of representatives: Nextracker inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Nextracker. The board's role is to monitor Nextracker's management team and ensure that shareholders' interests are well served. Nextracker's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Nextracker's outside directors are responsible for providing unbiased perspectives on the board's policies.
Marco Garcia | CoFounder Officer | Profile | |
Mike Mehawich | CoFounder Officer | Profile | |
Alex Au | CoFounder CTO | Profile | |
Nicholas Miller | CoFounder COO | Profile |