FLEX LNG Correlations

FLNG Stock

USD 26.18 0.32 1.21%

The current 90-days correlation between FLEX LNG and Torm PLC Class is 0.59 (i.e., Very weak diversification). The correlation of FLEX LNG is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

FLEX LNG Correlation With Market

Weak diversification

The correlation between FLEX LNG and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FLEX LNG and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in FLEX LNG. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more detail on how to invest in FLEX Stock please use our How to Invest in FLEX LNG guide.

Moving together with FLEX Stock

0.8	FRO	Frontline Earnings Call Next Week	Pair Corr
0.65	GEL	Genesis Energy LP	Pair Corr
0.66	LPG	Dorian LPG	Pair Corr
0.63	PXS	Pyxis Tankers	Pair Corr
0.65	TEN	Tsakos Energy Navigation Symbol Change	Pair Corr
0.64	TNK	Teekay Tankers	Pair Corr

Moving against FLEX Stock

0.54	VNOM	Viper Energy Ut	Pair Corr
0.48	DTM	DT Midstream	Pair Corr
0.48	KMI	Kinder Morgan Aggressive Push	Pair Corr
0.46	ENLC	EnLink Midstream LLC	Pair Corr
0.37	EE	Excelerate Energy	Pair Corr
0.37	IMPPP	Imperial Petroleum	Pair Corr
0.31	GLP	Global Partners LP	Pair Corr
0.56	TRP	TC Energy Corp	Pair Corr
0.51	WMB	Williams Companies	Pair Corr
0.33	OKE	ONEOK Inc	Pair Corr

Related Correlations Analysis

	FRO	TRMD	NVGS	TNK	TNP	STNG	LPG	CQP	KMI	GLNG
FRO		0.83	0.63	0.93	-0.42	0.93	0.85	-0.37	-0.65	-0.05	FRO
TRMD	0.83		0.39	0.86	-0.73	0.93	0.95	-0.69	-0.93	-0.44	TRMD
NVGS	0.63	0.39		0.53	-0.06	0.51	0.43	-0.07	-0.12	0.22	NVGS
TNK	0.93	0.86	0.53		-0.39	0.97	0.86	-0.6	-0.73	0.03	TNK
TNP	-0.42	-0.73	-0.06	-0.39		-0.5	-0.62	0.41	0.76	0.75	TNP
STNG	0.93	0.93	0.51	0.97	-0.5		0.93	-0.64	-0.82	-0.15	STNG
LPG	0.85	0.95	0.43	0.86	-0.62	0.93		-0.67	-0.88	-0.36	LPG
CQP	-0.37	-0.69	-0.07	-0.6	0.41	-0.64	-0.67		0.78	0.24	CQP
KMI	-0.65	-0.93	-0.12	-0.73	0.76	-0.82	-0.88	0.78		0.58	KMI
GLNG	-0.05	-0.44	0.22	0.03	0.75	-0.15	-0.36	0.24	0.58		GLNG
	FRO	TRMD	NVGS	TNK	TNP	STNG	LPG	CQP	KMI	GLNG

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

STNG	+ 0.97	TNK
LPG	+ 0.95	TRMD
TNK	+ 0.93	FRO
STNG	+ 0.93	FRO
STNG	+ 0.93	TRMD
LPG	+ 0.93	STNG

High negative correlations

KMI	- 0.93	TRMD
KMI	- 0.88	LPG
KMI	- 0.82	STNG
KMI	- 0.73	TNK
TNP	- 0.73	TRMD
CQP	- 0.69	TRMD

Risk-Adjusted Indicators

There is a big difference between FLEX Stock performing well and FLEX LNG Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze FLEX LNG's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FRO	1.97	(0.27)	0.00	(0.35)	0.00	0.00	4.15	(5.32)	12.09
TRMD	1.59	(0.69)	0.00	(0.69)	0.00	0.00	2.54	(4.09)	8.63
NVGS	1.29	(0.06)	(0.05)	0.00	1.72	(1.26)	2.52	(2.84)	8.11
TNK	1.50	(0.47)	0.00	(0.42)	0.00	0.00	2.41	(3.77)	11.22
TNP	1.44	0.21	0.08	(8.58)	1.46	(1.66)	3.12	(2.57)	9.04
STNG	1.39	(0.43)	0.00	(0.77)	0.00	0.00	1.97	(3.14)	7.72
LPG	1.69	(0.57)	0.00	(0.42)	0.00	0.00	2.97	(4.58)	9.93
CQP	1.06	0.13	0.04	1.70	1.13	(1.08)	2.28	(1.85)	4.59
KMI	0.90	0.38	0.45	0.55	0.11	(1.20)	1.91	(1.39)	8.04
GLNG	1.57	0.05	0.05	0.12	1.73	(1.79)	4.08	(2.88)	9.79

FLEX LNG Corporate Management

Steen Jakobsen	Director	Profile
Jannicke Eilertsen	Compliance Officer	Profile
Naren Senaratne	Chief Ltd	Profile
Marius Foss	Head of Commercial	Profile
James Ayers	Company Secretary	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC