LNG vs NEXT: Correlation
Cheniere Energy, Inc. (LNG) and NextDecade Corporation (NEXT) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LNG and NEXT?
On 3 years of weekly data the LNG/NEXT correlation comes out at 0.52, moderate. Recent behaviour matches the longer record: 0.56 over 1 year against 0.52 over 3. The 5-year figure is 0.48, and annualized covariance runs at 947.4 %².
Among the 20 assets we track against LNG, NEXT ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months LNG outperformed by 47.3 percentage points (+17.4% for LNG against -29.9% for NEXT). Risk is not evenly split, since NEXT carries 2.3 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.
LNG vs NEXT: side by side
| LNG (Cheniere Energy, Inc.) | NEXT (NextDecade Corporation) | |
|---|---|---|
| 1-year return | +17.4% | -29.9% |
| 5-year return | +231.8% | +136.2% |
| Volatility (ann.) | 28.3% | 64.4% |
| Beta vs S&P 500 | 0.13 | 0.79 |
| Max drawdown (3Y) | -24.9% | -60.0% |
| Market cap | $58.0B | $2.0B |
| P/E (trailing) | 21.5 | – |
| Dividend yield | 0.78% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LNG | NEXT |
|---|---|---|
| 2022 | +49.3% | +73.3% |
| 2023 | +15.0% | -3.4% |
| 2024 | +27.2% | +61.6% |
| 2025 | -8.7% | -31.6% |
| 2026 | +45.5% | +41.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LNG and NEXT good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between LNG and NEXT?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.56 over the last year and 0.48 over 5 years.
Is NEXT a good diversifier for LNG?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
A reading of 0.52 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lng-vs-next.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lng-vs-next/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LNG correlations · NEXT correlations
