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Freddy from Ash vs Jason vs Freddy, when he absorbed the Necronomicon.

Who wins?

I thought Nightmare was some kind of cosmic being?

He is, but nowhere close to Dream's level. Skyfather at best.

And Freddy became a lot more powerful with the book. Able to manifest physically, give Jason Vorhee's a living body, resurrect people fully..

True, but I seem to remember he was at best like..a planetary reality warper? So I think a skyfather still edges him out. It's been a long time since I read that comic.

Nightmare is a joke but he's still more powerful than any version of Freddy Krueger.

Nightmare easily.

Iirc Freddy managed to beat some aztec dream god

There both fear lords, but nightmare is higher on the food chain