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FLNG vs. SHELL.AS
Performance
Return for Risk
Drawdowns
Volatility
Dividends
Financials

FLNG vs. SHELL.AS

Last updated Jun 13, 2026

FLNG (FLEX LNG Ltd) and SHELL.AS (Shell plc) are both stocks. Both are in the Energy sector — FLNG in Oil & Gas Midstream, SHELL.AS in Oil & Gas Integrated. Over the past 5 years, FLNG returned 30.41%/yr vs 22.54%/yr for SHELL.AS. At a 0.27 correlation, their price movements are largely independent.

Performance

FLNG vs. SHELL.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FLEX LNG Ltd (FLNG) and Shell plc (SHELL.AS). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

FLNG is traded in USD, while SHELL.AS is traded in EUR. To make them comparable, the SHELL.AS values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FLNG achieves a 32.11% return, which is significantly higher than SHELL.AS's 18.92% return.

FLNG

1D
2.56%
1M
1.24%
YTD
32.11%
6M
28.96%
1Y
44.50%
3Y*
13.01%
5Y*
30.41%
10Y*
—

SHELL.AS

1D
-1.71%
1M
2.37%
YTD
18.92%
6M
22.00%
1Y
25.35%
3Y*
18.55%
5Y*
22.54%
10Y*
11.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FLNG vs. SHELL.AS - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
FLNG
FLEX LNG Ltd		32.11%22.47%-11.61%-1.19%56.32%202.13%-17.14%0.15%
SHELL.AS
Shell plc		18.92%23.33%-1.07%21.18%33.55%34.10%-39.16%-4.32%

Correlation

The correlation between FLNG and SHELL.AS is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.13

Correlation (3Y)
Calculated over the trailing 3-year period

0.22

Correlation (5Y)
Calculated over the trailing 5-year period

0.28

Correlation (All Time)
Calculated using the full available price history since Jun 17, 2019

0.27

The correlation between FLNG and SHELL.AS shifts across timeframes, from 0.13 (1 year) to 0.28 (5 years), reflecting how their relationship changes across market environments.

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FLEX LNG Ltd

Shell plc

Often compared with FLNG:
FLNG vs. GLNGFLNG vs. DMLPFLNG vs. LPGFLNG vs. QQQIFLNG vs. TRMDFLNG vs. SGDMFLNG vs. VONG
Often compared with SHELL.AS:
SHELL.AS vs. BPSHELL.AS vs. TTESHELL.AS vs. XOMSHELL.AS vs. SPYSHELL.AS vs. TTE.PASHELL.AS vs. TOT.TOSHELL.AS vs. HEIA.AS

Return for Risk

FLNG vs. SHELL.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FLNG
FLNG Risk / Return Rank: 8686
Overall Rank
FLNG Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
FLNG Sortino Ratio Rank: 8484
Sortino Ratio Rank
FLNG Omega Ratio Rank: 8282
Omega Ratio Rank
FLNG Calmar Ratio Rank: 8989
Calmar Ratio Rank
FLNG Martin Ratio Rank: 8989
Martin Ratio Rank
SHELL.AS
SHELL.AS Risk / Return Rank: 7474
Overall Rank
SHELL.AS Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
SHELL.AS Sortino Ratio Rank: 6969
Sortino Ratio Rank
SHELL.AS Omega Ratio Rank: 7171
Omega Ratio Rank
SHELL.AS Calmar Ratio Rank: 7676
Calmar Ratio Rank
SHELL.AS Martin Ratio Rank: 7878
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FLNG vs. SHELL.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FLEX LNG Ltd (FLNG) and Shell plc (SHELL.AS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

FLNGSHELL.ASDifference
Sharpe ratioReturn per unit of total volatility
1.74
1.18

+0.56

Sortino ratioReturn per unit of downside risk
2.45
1.62

+0.84

Omega ratioGain probability vs. loss probability

1.30

1.22

+0.09

Calmar ratioReturn relative to maximum drawdown

4.05

2.30

+1.75

Martin ratioReturn relative to average drawdown

10.15

6.01

+4.14

FLNG vs. SHELL.AS - Sharpe Ratio Comparison

The current FLNG Sharpe Ratio is 1.74, which is higher than the SHELL.AS Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of FLNG and SHELL.AS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FLNG vs. SHELL.AS - Drawdown Comparison

The maximum FLNG drawdown since its inception was -71.92%, which is greater than SHELL.AS's maximum drawdown of -67.99%. Use the drawdown chart below to compare losses from any high point for FLNG and SHELL.AS.

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Drawdown Indicators

FLNGSHELL.ASDifference

Max Drawdown

Largest peak-to-trough decline

-71.92%

-67.99%

-3.93%

Max Drawdown (1Y)

Largest decline over 1 year

-11.05%

-10.88%

-0.17%

Max Drawdown (3Y)

Largest decline over 3 years

-25.37%

-20.43%

-4.94%

Max Drawdown (5Y)

Largest decline over 5 years

-31.05%

-25.10%

-5.95%

Max Drawdown (10Y)

Largest decline over 10 years

—

-67.99%

—

Current Drawdown

Current decline from peak

-3.63%

-8.19%

+4.56%

Average Drawdown

Average peak-to-trough decline

-18.77%

-17.95%

-0.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.40%

4.19%

+0.21%

Volatility

FLNG vs. SHELL.AS - Volatility Comparison

The current volatility for FLEX LNG Ltd (FLNG) is 5.51%, while Shell plc (SHELL.AS) has a volatility of 6.75%. This indicates that FLNG experiences smaller price fluctuations and is considered to be less risky than SHELL.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FLNGSHELL.ASDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.51%

6.75%

-1.24%

Volatility (6M)

Calculated over the trailing 6-month period

18.42%

18.10%

+0.32%

Volatility (1Y)

Calculated over the trailing 1-year period

25.69%

21.28%

+4.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

39.19%

25.80%

+13.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

47.30%

30.64%

+16.66%

Dividends

FLNG vs. SHELL.AS - Dividend Comparison

FLNG's dividend yield for the trailing twelve months is around 9.59%, more than SHELL.AS's 3.39% yield.

PositionTTM20252024202320222021202020192018201720162015
FLNG
FLEX LNG Ltd		9.59%12.02%13.08%11.61%10.71%7.88%2.29%0.92%0.00%0.00%0.00%0.00%
SHELL.AS
Shell plc		3.39%3.94%4.44%4.15%3.74%4.24%6.12%6.73%7.13%6.51%6.14%6.92%

Financials

FLNG vs. SHELL.AS - Financials Comparison

This section allows you to compare key financial metrics between FLEX LNG Ltd and Shell plc. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.

Quarterly
Annual

Total Revenue: Total amount of money received from sales and other business activities

Please note, different currencies. FLNG values in USD, SHELL.AS values in EUR

Frequently Asked Questions

FLNG and SHELL.AS have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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