ECO vs HAFN: Correlation
Okeanis Eco Tankers Corp. (ECO) and Hafnia Limited (HAFN) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECO and HAFN?
Over the past 3 years, ECO and HAFN moved with a correlation of 0.72, which is strong. Little has changed lately, as the 1-year reading of 0.78 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1187.5 %².
Few assets follow ECO as closely as HAFN, which ranks #2 of 13 tracked partners. The last year tells two different stories: ECO led by 133.7 percentage points, +189.8% for ECO 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.
ECO vs HAFN: side by side
| ECO (Okeanis Eco Tankers Corp.) | HAFN (Hafnia Limited) | |
|---|---|---|
| 1-year return | +189.8% | +56.1% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 44.3% | 38.6% |
| Beta vs S&P 500 | 0.52 | 0.70 |
| Max drawdown (3Y) | -46.1% | -50.2% |
| Market cap | $2.6B | $4.1B |
| P/E (trailing) | 5.8 | 8.6 |
| Dividend yield | 0.00% | 9.42% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ECO | HAFN |
|---|---|---|
| 2024 | -11.7% | – |
| 2025 | +64.2% | +5.4% |
| 2026 | +128.8% | +69.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECO and HAFN good diversifiers for each other?
To a limited degree. At 0.72 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 ECO and HAFN?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.78 over the last year and n/a over 5 years.
Is HAFN a good diversifier for ECO?
To a limited degree. At 0.72 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 0.72 mean?
On the −1 to +1 scale, 0.72 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eco-vs-hafn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eco-vs-hafn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ECO correlations · HAFN correlations
