GLNG vs NEXT: Correlation
How closely do Golar LNG Limited (GLNG) and NextDecade Corporation (NEXT) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLNG and NEXT?
Across a 3-year window, the weekly returns of GLNG and NEXT correlate at 0.50, moderate. The past 12 months show a tighter link (0.69) than the 3-year average (0.50). Stretching to 5 years gives 0.47, with an annualized covariance of 1207.1 %².
In GLNG's tracked universe of 12 assets, NEXT sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months GLNG outperformed by 47.6 percentage points (+17.7% for GLNG against -29.9% for NEXT). Note the risk asymmetry: NEXT runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
GLNG vs NEXT: side by side
| GLNG (Golar LNG Limited) | NEXT (NextDecade Corporation) | |
|---|---|---|
| 1-year return | +17.7% | -29.9% |
| 5-year return | +415.5% | +136.2% |
| Volatility (ann.) | 37.5% | 64.4% |
| Beta vs S&P 500 | 0.88 | 0.79 |
| Max drawdown (3Y) | -29.4% | -60.0% |
| Market cap | $5.3B | $2.0B |
| P/E (trailing) | 35.3 | – |
| Dividend yield | 1.95% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GLNG | NEXT |
|---|---|---|
| 2022 | +83.9% | +73.3% |
| 2023 | +4.4% | -3.4% |
| 2024 | +90.8% | +61.6% |
| 2025 | -9.7% | -31.6% |
| 2026 | +40.5% | +41.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLNG and NEXT good diversifiers for each other?
Only partially. A correlation of 0.50 means GLNG and NEXT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GLNG and NEXT?
As of 2026-08-27, the correlation of weekly returns between GLNG and NEXT is 0.50 over 3 years, 0.69 over 1 year and 0.47 over 5 years.
Is NEXT a good diversifier for GLNG?
Only partially. A correlation of 0.50 means GLNG and NEXT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/glng-vs-next.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/glng-vs-next/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GLNG correlations · NEXT correlations
