BWLP vs HAFN: Correlation
Measured on weekly returns over the past three years, BW LPG Limited (BWLP) and Hafnia Limited (HAFN) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWLP and HAFN?
Across a 3-year window, the weekly returns of BWLP and HAFN correlate at 0.67, strong. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 1266.6 %².
Few assets follow BWLP as closely as HAFN, which ranks #2 of 12 tracked partners. The last year tells two different stories: BWLP led by 16.3 percentage points, +72.4% for BWLP against +56.1% for HAFN.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BWLP vs HAFN: side by side
| BWLP (BW LPG Limited) | HAFN (Hafnia Limited) | |
|---|---|---|
| 1-year return | +72.4% | +56.1% |
| 5-year return | +841.4% | n/a |
| Volatility (ann.) | 48.8% | 38.6% |
| Beta vs S&P 500 | 0.74 | 0.70 |
| Max drawdown (3Y) | -54.3% | -50.2% |
| Market cap | $3.7B | $4.1B |
| P/E (trailing) | 9.9 | 8.6 |
| Dividend yield | 7.90% | 9.42% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWLP | HAFN |
|---|---|---|
| 2022 | +60.4% | – |
| 2023 | +157.7% | – |
| 2024 | -7.2% | – |
| 2025 | +22.9% | +5.4% |
| 2026 | +99.6% | +69.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWLP and HAFN good diversifiers for each other?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BWLP and HAFN?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.64 over the last year and n/a over 5 years.
Is HAFN a good diversifier for BWLP?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.67 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bwlp-vs-hafn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bwlp-vs-hafn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BWLP correlations · HAFN correlations
