FLNG vs GASS: Correlation
Measured on weekly returns over the past three years, FLEX LNG Ltd. (FLNG) and StealthGas, Inc. (GASS) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLNG and GASS?
On 3 years of weekly data the FLNG/GASS correlation comes out at 0.57, moderate. Recent behaviour matches the longer record: 0.66 over 1 year against 0.57 over 3. The 5-year figure is 0.37, and annualized covariance runs at 614.7 %².
By 3-year correlation, GASS places #6 of the 11 assets tracked against FLNG. Neither side won the trailing year by much: +28.6% against +23.8%. Risk is not evenly split, since GASS carries 1.5 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.
FLNG vs GASS: side by side
| FLNG (FLEX LNG Ltd.) | GASS (StealthGas, Inc.) | |
|---|---|---|
| 1-year return | +28.6% | +23.8% |
| 5-year return | +261.5% | +247.3% |
| Volatility (ann.) | 26.8% | 40.3% |
| Beta vs S&P 500 | 0.26 | 0.28 |
| Max drawdown (3Y) | -25.4% | -44.3% |
| Market cap | $1.7B | $0.4B |
| P/E (trailing) | 16.0 | 5.4 |
| Dividend yield | 9.86% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLNG | GASS |
|---|---|---|
| 2022 | +56.3% | +27.0% |
| 2023 | -1.2% | +141.0% |
| 2024 | -11.7% | -12.5% |
| 2025 | +26.4% | +24.2% |
| 2026 | +32.3% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLNG and GASS good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FLNG and GASS?
As of 2026-08-27, the correlation of weekly returns between FLNG and GASS is 0.57 over 3 years, 0.66 over 1 year and 0.37 over 5 years.
Is GASS a good diversifier for FLNG?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 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/flng-vs-gass.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/flng-vs-gass/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FLNG correlations · GASS correlations
