LNG vs. PAA
LNG (Cheniere Energy, Inc.) and PAA (Plains All American Pipeline, L.P.) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 10 years, LNG returned 22.78%/yr vs 5.97%/yr for PAA. At a 0.31 correlation, their price movements are largely independent.
Performance
LNG vs. PAA - Performance Comparison
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Returns By Period
In the year-to-date period, LNG achieves a 24.74% return, which is significantly lower than PAA's 30.01% return. Over the past 10 years, LNG has outperformed PAA with an annualized return of 22.78%, while PAA has yielded a comparatively lower 5.97% annualized return.
LNG
- 1D
- 0.47%
- 1M
- 0.08%
- YTD
- 24.74%
- 6M
- 28.05%
- 1Y
- 2.23%
- 3Y*
- 19.57%
- 5Y*
- 23.34%
- 10Y*
- 22.78%
PAA
- 1D
- -0.18%
- 1M
- -0.18%
- YTD
- 30.01%
- 6M
- 31.47%
- 1Y
- 35.06%
- 3Y*
- 28.99%
- 5Y*
- 22.23%
- 10Y*
- 5.97%
LNG vs. PAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LNG Cheniere Energy, Inc. | 24.74% | -8.70% | 27.18% | 15.02% | 49.30% | 69.48% | -1.70% | 3.18% | 9.94% | 29.95% |
PAA Plains All American Pipeline, L.P. | 30.01% | 14.30% | 21.38% | 39.18% | 35.79% | 22.24% | -50.79% | -2.28% | 2.31% | -31.34% |
Correlation
The correlation between LNG and PAA is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 1998 | 0.31 |
The correlation between LNG and PAA shifts across timeframes, from 0.31 (all time) to 0.50 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
LNG:
$50.79B
PAA:
$15.84B
LNG:
$6.80
PAA:
$2.19
LNG:
35.48
PAA:
10.24
LNG:
0.19
PAA:
0.19
LNG:
2.58
PAA:
0.35
LNG:
13.53
PAA:
1.24
LNG:
$20.28B
PAA:
$45.25B
LNG:
$5.52B
PAA:
$1.55B
LNG:
$5.81B
PAA:
$2.54B
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Return for Risk
LNG vs. PAA — Risk / Return Rank
LNG
PAA
LNG vs. PAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cheniere Energy, Inc. (LNG) and Plains All American Pipeline, L.P. (PAA). 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.
| LNG | PAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -2.35 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.33 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | 2.51 | -2.36 |
| Martin ratioReturn relative to average drawdown | 0.31 | 7.17 | -6.86 |
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Drawdowns
LNG vs. PAA - Drawdown Comparison
The maximum LNG drawdown since its inception was -97.84%, which is greater than PAA's maximum drawdown of -91.99%. Use the drawdown chart below to compare losses from any high point for LNG and PAA.
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Drawdown Indicators
| LNG | PAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.84% | -91.99% | -5.85% |
Max Drawdown (1Y)Largest decline over 1 year | -24.09% | -14.53% | -9.56% |
Max Drawdown (3Y)Largest decline over 3 years | -24.87% | -22.26% | -2.61% |
Max Drawdown (5Y)Largest decline over 5 years | -24.87% | -25.20% | +0.33% |
Max Drawdown (10Y)Largest decline over 10 years | -57.53% | -87.92% | +30.39% |
Current DrawdownCurrent decline from peak | -18.55% | -10.03% | -8.52% |
Average DrawdownAverage peak-to-trough decline | -43.14% | -25.75% | -17.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.88% | 5.08% | +6.80% |
Volatility
LNG vs. PAA - Volatility Comparison
Cheniere Energy, Inc. (LNG) and Plains All American Pipeline, L.P. (PAA) have volatilities of 7.19% and 7.32%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LNG | PAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.19% | 7.32% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 21.49% | 14.09% | +7.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.02% | 18.47% | +8.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.27% | 26.81% | +3.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.50% | 41.82% | -9.32% |
Dividends
LNG vs. PAA - Dividend Comparison
LNG's dividend yield for the trailing twelve months is around 0.90%, less than PAA's 7.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LNG Cheniere Energy, Inc. | 0.90% | 1.06% | 0.84% | 0.95% | 0.92% | 0.33% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PAA Plains All American Pipeline, L.P. | 7.11% | 8.46% | 7.44% | 7.06% | 7.08% | 7.71% | 10.92% | 7.50% | 5.99% | 9.45% | 8.21% | 11.93% |
Financials
LNG vs. PAA - Financials Comparison
This section allows you to compare key financial metrics between Cheniere Energy, Inc. and Plains All American Pipeline, L.P.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
LNG vs. PAA - Profitability Comparison
LNG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cheniere Energy, Inc. reported a gross profit of 0.00 and revenue of 5.87B. Therefore, the gross margin over that period was 0.0%.
PAA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Plains All American Pipeline, L.P. reported a gross profit of 0.00 and revenue of 12.47B. Therefore, the gross margin over that period was 0.0%.
LNG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cheniere Energy, Inc. reported an operating income of -3.49B and revenue of 5.87B, resulting in an operating margin of -59.4%.
PAA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Plains All American Pipeline, L.P. reported an operating income of 405.00M and revenue of 12.47B, resulting in an operating margin of 3.3%.
LNG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cheniere Energy, Inc. reported a net income of -3.50B and revenue of 5.87B, resulting in a net margin of -59.7%.
PAA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Plains All American Pipeline, L.P. reported a net income of 551.00M and revenue of 12.47B, resulting in a net margin of 4.4%.
Frequently Asked Questions
LNG and PAA have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAA has higher volatility (7.32%) compared to LNG (7.19%). In terms of maximum drawdown, LNG dropped -97.84% vs PAA's -91.99%.
PAA currently has the higher Sharpe Ratio (1.98 vs 0.14), 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.
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