KYN vs NEXT: Correlation
Measured on weekly returns over the past three years, Kayne Anderson Energy Infrastructure Fund, Inc. (KYN) and NextDecade Corporation (NEXT) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KYN and NEXT?
Across a 3-year window, the weekly returns of KYN and NEXT correlate at 0.47, moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. Stretching to 5 years gives 0.44, with an annualized covariance of 658.6 %².
Within KYN's tracked universe of 25 assets, NEXT comes in at #15 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months KYN outperformed by 59.0 percentage points (+29.1% for KYN against -29.9% for NEXT). Risk is not evenly split, since NEXT carries 2.9 times the volatility of the other side.
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.
KYN vs NEXT: side by side
| KYN (Kayne Anderson Energy Infrastructure Fund, Inc.) | NEXT (NextDecade Corporation) | |
|---|---|---|
| 1-year return | +29.1% | -29.9% |
| 5-year return | +190.9% | +136.2% |
| Volatility (ann.) | 22.0% | 64.4% |
| Beta vs S&P 500 | 0.44 | 0.79 |
| Max drawdown (3Y) | -21.6% | -60.0% |
| Market cap | $2.5B | $2.0B |
| P/E (trailing) | 5.1 | – |
| Dividend yield | 6.64% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KYN | NEXT |
|---|---|---|
| 2022 | +20.5% | +73.3% |
| 2023 | +13.2% | -3.4% |
| 2024 | +60.4% | +61.6% |
| 2025 | +5.3% | -31.6% |
| 2026 | +25.5% | +41.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KYN and NEXT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KYN and NEXT?
The KYN/NEXT correlation stands at 0.47 on a 3-year window (1 year: 0.47, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is NEXT a good diversifier for KYN?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/kyn-vs-next.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kyn-vs-next/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KYN correlations · NEXT correlations
