FLNG vs HAFN: Correlation
FLEX LNG Ltd. (FLNG) and Hafnia Limited (HAFN) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLNG and HAFN?
Across a 3-year window, the weekly returns of FLNG and HAFN correlate at 0.58, moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 607.6 %².
Among the 11 assets we track against FLNG, HAFN ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HAFN ahead by 27.5 points (+28.6% versus +56.1%).
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.
FLNG vs HAFN: side by side
| FLNG (FLEX LNG Ltd.) | HAFN (Hafnia Limited) | |
|---|---|---|
| 1-year return | +28.6% | +56.1% |
| 5-year return | +261.5% | n/a |
| Volatility (ann.) | 26.8% | 38.6% |
| Beta vs S&P 500 | 0.26 | 0.70 |
| Max drawdown (3Y) | -25.4% | -50.2% |
| Market cap | $1.7B | $4.1B |
| P/E (trailing) | 16.0 | 8.6 |
| Dividend yield | 9.86% | 9.42% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLNG | HAFN |
|---|---|---|
| 2022 | +56.3% | – |
| 2023 | -1.2% | – |
| 2024 | -11.7% | – |
| 2025 | +26.4% | +5.4% |
| 2026 | +32.3% | +69.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLNG and HAFN good diversifiers for each other?
To a limited degree. At 0.58 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 FLNG and HAFN?
As of 2026-08-27, the correlation of weekly returns between FLNG and HAFN is 0.58 over 3 years, 0.58 over 1 year and n/a over 5 years.
Is HAFN a good diversifier for FLNG?
To a limited degree. At 0.58 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 0.58 mean?
A reading of 0.58 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/flng-vs-hafn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/flng-vs-hafn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FLNG correlations · HAFN correlations
