FLNG vs IEF: Correlation
FLEX LNG Ltd. (FLNG) and iShares 7-10 Year Treasury Bond ETF (IEF) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLNG and IEF?
On 3 years of weekly data the FLNG/IEF correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.23) sits close to the 3-year figure. The 5-year figure is -0.18, and annualized covariance runs at -38.3 %².
Out of 11 assets tracked against FLNG, IEF lands near the bottom at #9. The last year tells two different stories: FLNG led by 27.7 percentage points, +28.6% for FLNG against +0.9% for IEF. Risk is not evenly split, since FLNG carries 4.1 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 IEF: side by side
| FLNG (FLEX LNG Ltd.) | IEF (iShares 7-10 Year Treasury Bond ETF) | |
|---|---|---|
| 1-year return | +28.6% | +0.9% |
| 5-year return | +261.5% | -7.9% |
| Volatility (ann.) | 26.8% | 6.5% |
| Beta vs S&P 500 | 0.26 | 0.04 |
| Max drawdown (3Y) | -25.4% | -6.9% |
| Market cap | $1.7B | – |
| P/E (trailing) | 16.0 | – |
| Dividend yield | 9.86% | 3.96% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $47.2B |
| Sector / category | US Listed | ETF · Bonds |
On the fund side, IEF sits in the Long Government category at iShares, with $47.2B under management, a 0.15% expense ratio, a 3.96% trailing dividend yield.
Year-by-year returns
| Year | FLNG | IEF |
|---|---|---|
| 2022 | +56.3% | -15.2% |
| 2023 | -1.2% | +3.6% |
| 2024 | -11.7% | -0.6% |
| 2025 | +26.4% | +8.0% |
| 2026 | +32.3% | -0.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLNG and IEF good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FLNG and IEF?
The FLNG/IEF correlation stands at -0.22 on a 3-year window (1 year: -0.23, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is IEF a good diversifier for FLNG?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/flng-vs-ief.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/flng-vs-ief/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLNG correlations · IEF correlations
