NEXT vs ORBS: Correlation
NextDecade Corporation (NEXT) and Eightco Holdings Inc. (ORBS) show a negative relationship: their 3-year correlation of weekly returns is -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEXT and ORBS?
On 3 years of weekly data the NEXT/ORBS correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.58) than the 3-year average (-0.32). The 5-year figure is -0.22, and annualized covariance runs at -11722.5 %².
ORBS is close to the least connected end of NEXT's tracked universe, ranking #11 of 12. Their recent paths diverged sharply: over the last 12 months NEXT outperformed by 15.0 percentage points (-29.9% for NEXT against -44.9% for ORBS). One caveat on sizing: ORBS is 8.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NEXT vs ORBS: side by side
| NEXT (NextDecade Corporation) | ORBS (Eightco Holdings Inc.) | |
|---|---|---|
| 1-year return | -29.9% | -44.9% |
| 5-year return | +136.2% | -100.0% |
| Volatility (ann.) | 64.4% | 575.8% |
| Beta vs S&P 500 | 0.79 | 3.91 |
| Max drawdown (3Y) | -60.0% | -98.7% |
| Market cap | $2.0B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEXT | ORBS |
|---|---|---|
| 2022 | +73.3% | – |
| 2023 | -3.4% | -94.6% |
| 2024 | +61.6% | -14.8% |
| 2025 | -31.6% | -21.0% |
| 2026 | +41.2% | -52.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEXT and ORBS good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between NEXT and ORBS?
As of 2026-08-27, the correlation of weekly returns between NEXT and ORBS is -0.32 over 3 years, -0.58 over 1 year and -0.22 over 5 years.
Is ORBS a good diversifier for NEXT?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 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/next-vs-orbs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/next-vs-orbs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NEXT correlations · ORBS correlations
