HAFN vs INSW: Correlation
How closely do Hafnia Limited (HAFN) and International Seaways, Inc. (INSW) trade together? Their weekly returns over three years give a correlation of 0.78, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAFN and INSW?
Over the past 3 years, HAFN and INSW moved with a correlation of 0.78, which is strong. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1158.3 %².
INSW is one of the assets that tracks HAFN most closely: it ranks #2 out of the 22 assets we track against HAFN. The last year tells two different stories: INSW led by 94.2 percentage points, +56.1% for HAFN against +150.3% for INSW.
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.
HAFN vs INSW: side by side
| HAFN (Hafnia Limited) | INSW (International Seaways, Inc.) | |
|---|---|---|
| 1-year return | +56.1% | +150.3% |
| 5-year return | n/a | +861.9% |
| Volatility (ann.) | 38.6% | 36.8% |
| Beta vs S&P 500 | 0.70 | 0.50 |
| Max drawdown (3Y) | -50.2% | -50.4% |
| Market cap | $4.1B | $4.9B |
| P/E (trailing) | 8.6 | 6.0 |
| Dividend yield | 9.42% | 0.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HAFN | INSW |
|---|---|---|
| 2022 | – | +162.5% |
| 2023 | – | +42.9% |
| 2024 | – | -10.9% |
| 2025 | +5.4% | +45.0% |
| 2026 | +69.2% | +123.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAFN and INSW good diversifiers for each other?
To a limited degree. At 0.78 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 HAFN and INSW?
As of 2026-08-27, the correlation of weekly returns between HAFN and INSW is 0.78 over 3 years, 0.77 over 1 year and n/a over 5 years.
Is INSW a good diversifier for HAFN?
To a limited degree. At 0.78 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 0.78 mean?
A reading of 0.78 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/hafn-vs-insw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hafn-vs-insw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HAFN correlations · INSW correlations
