There’s things like explosive gets 200% multiplicative bonus on frozen enemies, or switching to a fire on flesh gets the 75% bonus. But 2 neutral elements like shock and cryo on flesh should preform the same.
At least that’s what I think Sljm’s findings were.
And shields resist cryo damage so there’s that. Basically everything gets 200%, but other things play roles too.
And when in doubt just go to the dummies and test it.