DERM vs HAFN: Correlation
How closely do Journey Medical Corporation (DERM) and Hafnia Limited (HAFN) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DERM and HAFN?
On 3 years of weekly data the DERM/HAFN correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.18) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -570.9 %².
Out of 15 assets tracked against DERM, HAFN lands near the bottom at #14. Correlation aside, the last 12 months split them widely, with HAFN ahead by 55.4 points (+0.7% versus +56.1%). Note the risk asymmetry: DERM runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DERM vs HAFN: side by side
| DERM (Journey Medical Corporation) | HAFN (Hafnia Limited) | |
|---|---|---|
| 1-year return | +0.7% | +56.1% |
| 5-year return | -23.9% | n/a |
| Volatility (ann.) | 71.7% | 38.6% |
| Beta vs S&P 500 | 0.46 | 0.70 |
| Max drawdown (3Y) | -63.3% | -50.2% |
| Market cap | $0.2B | $4.1B |
| P/E (trailing) | – | 8.6 |
| Dividend yield | 0.00% | 9.42% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DERM | HAFN |
|---|---|---|
| 2022 | -64.3% | – |
| 2023 | +200.0% | – |
| 2024 | -32.1% | – |
| 2025 | +97.2% | +5.4% |
| 2026 | -2.3% | +69.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DERM and HAFN good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DERM and HAFN?
As of 2026-08-27, the correlation of weekly returns between DERM and HAFN is -0.24 over 3 years, -0.18 over 1 year and n/a over 5 years.
Is HAFN a good diversifier for DERM?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/derm-vs-hafn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/derm-vs-hafn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DERM correlations · HAFN correlations
