GASS vs. NAT

Last updated Jun 4, 2026

GASS (StealthGas Inc.) and NAT (Nordic American Tankers Limited) are both stocks. Both operate in the Marine Shipping industry within the Industrials sector. Over the past 10 years, GASS returned 12.52%/yr vs -2.71%/yr for NAT. At a 0.24 correlation, their price movements are largely independent.

Performance

GASS vs. NAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in StealthGas Inc. (GASS) and Nordic American Tankers Limited (NAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GASS achieves a 31.34% return, which is significantly lower than NAT's 56.47% return. Over the past 10 years, GASS has outperformed NAT with an annualized return of 12.52%, while NAT has yielded a comparatively lower -2.71% annualized return.

GASS

• 1D: -2.33%
• 1M: -8.71%
• YTD: 31.34%
• 6M: 33.82%
• 1Y: 52.65%
• 3Y*: 43.97%
• 5Y*: 36.31%
• 10Y*: 12.52%

NAT

• 1D: -0.38%
• 1M: -9.06%
• YTD: 56.47%
• 6M: 49.10%
• 1Y: 119.42%
• 3Y*: 26.01%
• 5Y*: 18.53%
• 10Y*: -2.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GASS vs. NAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GASS StealthGas Inc.	31.34%	24.25%	-12.54%	141.04%	27.01%	34.27%	-31.49%	24.28%	-36.70%	28.99%
NAT Nordic American Tankers Limited	56.47%	54.57%	-33.63%	55.83%	87.90%	-41.48%	-32.82%	156.48%	-13.56%	-68.39%

Correlation

The correlation between GASS and NAT is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Oct 7, 2005	0.24

The correlation between GASS and NAT shifts across timeframes, from 0.24 (all time) to 0.38 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap GASS : $332.95M NAT : $1.11B
EPS GASS : $1.68 NAT : $0.26
PE Ratio GASS : 5.47 NAT : 20.35
PEG Ratio GASS : 0.08 NAT : 0.25
PS Ratio GASS : 1.92 NAT : 3.31
PB Ratio GASS : 0.48 NAT : 2.42
Total Revenue (TTM) GASS : $173.16M NAT : $334.09M
Gross Profit (TTM) GASS : $67.86M NAT : $97.31M
EBITDA (TTM) GASS : $84.46M NAT : $132.71M

Return for Risk

GASS vs. NAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GASS

GASS Risk / Return Rank: 79
GASS Sharpe Ratio Rank: 84
GASS Sortino Ratio Rank: 81
GASS Omega Ratio Rank: 76
GASS Calmar Ratio Rank: 79
GASS Martin Ratio Rank: 76

NAT

NAT Risk / Return Rank: 94
NAT Sharpe Ratio Rank: 95
NAT Sortino Ratio Rank: 94
NAT Omega Ratio Rank: 92
NAT Calmar Ratio Rank: 94
NAT Martin Ratio Rank: 96

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.

GASS vs. NAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for StealthGas Inc. (GASS) and Nordic American Tankers Limited (NAT). 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.

	GASS	NAT	Difference
Sharpe ratio Return per unit of total volatility	1.66	3.32	-1.66
Sortino ratio Return per unit of downside risk	2.44	3.98	-1.54
Omega ratio Gain probability vs. loss probability	1.28	1.47	-0.20
Calmar ratio Return relative to maximum drawdown	2.55	6.51	-3.96
Martin ratio Return relative to average drawdown	5.48	21.33	-15.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GASS vs. NAT - Sharpe Ratio Comparison

The current GASS Sharpe Ratio is 1.66, which is lower than the NAT Sharpe Ratio of 3.32. The chart below compares the historical Sharpe Ratios of GASS and NAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GASS	NAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	3.32	-1.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.36	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	-0.05	+0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.14	-0.11

Drawdowns

GASS vs. NAT - Drawdown Comparison

The maximum GASS drawdown since its inception was -89.82%, roughly equal to the maximum NAT drawdown of -90.20%. Use the drawdown chart below to compare losses from any high point for GASS and NAT.

Drawdown Indicators

	GASS	NAT	Difference
Max Drawdown Largest peak-to-trough decline	-89.82%	-90.20%	+0.38%
Max Drawdown (1Y) Largest decline over 1 year	-20.76%	-18.45%	-2.31%
Max Drawdown (3Y) Largest decline over 3 years	-44.34%	-46.31%	+1.97%
Max Drawdown (5Y) Largest decline over 5 years	-44.34%	-59.88%	+15.54%
Max Drawdown (10Y) Largest decline over 10 years	-63.11%	-87.33%	+24.22%
Current Drawdown Current decline from peak	-18.88%	-44.79%	+25.91%
Average Drawdown Average peak-to-trough decline	-57.84%	-44.00%	-13.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.63%	5.62%	+4.01%

Volatility

GASS vs. NAT - Volatility Comparison

StealthGas Inc. (GASS) has a higher volatility of 9.74% compared to Nordic American Tankers Limited (NAT) at 9.26%. This indicates that GASS's price experiences larger fluctuations and is considered to be riskier than NAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GASS	NAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.74%	9.26%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	24.86%	27.64%	-2.78%
Volatility (1Y) Calculated over the trailing 1-year period	32.15%	36.17%	-4.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.41%	51.06%	-1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.51%	58.02%	-10.51%

Dividends

GASS vs. NAT - Dividend Comparison

GASS has not paid dividends to shareholders, while NAT's dividend yield for the trailing twelve months is around 9.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GASS StealthGas Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	44.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NAT Nordic American Tankers Limited	9.00%	10.47%	16.00%	11.67%	3.59%	3.55%	15.25%	2.03%	8.00%	21.54%	16.31%	8.88%

Financials

GASS vs. NAT - Profitability Comparison

The chart below illustrates the profitability comparison between StealthGas Inc. and Nordic American Tankers Limited over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

GASS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, StealthGas Inc. reported a gross profit of 13.53M and revenue of 39.37M. Therefore, the gross margin over that period was 34.4%.

NAT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Nordic American Tankers Limited reported a gross profit of 47.64M and revenue of 106.46M. Therefore, the gross margin over that period was 44.8%.

GASS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, StealthGas Inc. reported an operating income of 10.17M and revenue of 39.37M, resulting in an operating margin of 25.8%.

NAT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Nordic American Tankers Limited reported an operating income of 38.36M and revenue of 106.46M, resulting in an operating margin of 36.0%.

GASS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, StealthGas Inc. reported a net income of 12.78M and revenue of 39.37M, resulting in a net margin of 32.5%.

NAT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Nordic American Tankers Limited reported a net income of 46.29M and revenue of 106.46M, resulting in a net margin of 43.5%.

Frequently Asked Questions

Can I hold both GASS and NAT in my portfolio?

GASS and NAT have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GASS or NAT?

GASS has higher volatility (9.74%) compared to NAT (9.26%). In terms of maximum drawdown, GASS dropped -89.82% vs NAT's -90.20%.

Which has better risk-adjusted returns?

NAT currently has the higher Sharpe Ratio (3.32 vs 1.66), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.