FLNG vs TEN: Correlation
FLEX LNG Ltd. (FLNG) and Tsakos Energy Navigation Ltd (TEN) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLNG and TEN?
On 3 years of weekly data the FLNG/TEN correlation comes out at 0.58, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.47 versus 0.58 over 3 years. The 5-year figure is 0.40, and annualized covariance runs at 568.4 %².
Among the 11 assets we track against FLNG, TEN ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TEN outperformed by 69.6 percentage points (+28.6% for FLNG against +98.2% for TEN).
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 TEN: side by side
| FLNG (FLEX LNG Ltd.) | TEN (Tsakos Energy Navigation Ltd) | |
|---|---|---|
| 1-year return | +28.6% | +98.2% |
| 5-year return | +261.5% | +584.9% |
| Volatility (ann.) | 26.8% | 36.7% |
| Beta vs S&P 500 | 0.26 | 0.66 |
| Max drawdown (3Y) | -25.4% | -52.6% |
| Market cap | $1.7B | $1.3B |
| P/E (trailing) | 16.0 | 6.6 |
| Dividend yield | 9.86% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLNG | TEN |
|---|---|---|
| 2022 | +56.3% | +138.5% |
| 2023 | -1.2% | +38.1% |
| 2024 | -11.7% | -16.0% |
| 2025 | +26.4% | +33.1% |
| 2026 | +32.3% | +92.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLNG and TEN good diversifiers for each other?
Only partially. A correlation of 0.58 means FLNG and TEN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between FLNG and TEN?
The FLNG/TEN correlation stands at 0.58 on a 3-year window (1 year: 0.47, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is TEN a good diversifier for FLNG?
Only partially. A correlation of 0.58 means FLNG and TEN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 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-ten.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/flng-vs-ten/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLNG correlations · TEN correlations
