HAFN vs LIQT: Correlation
Measured on weekly returns over the past three years, Hafnia Limited (HAFN) and LiqTech International, Inc. (LIQT) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAFN and LIQT?
Over the past 3 years, HAFN and LIQT moved with a correlation of 0.32, which is moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.32 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 911.6 %².
Among the 22 assets we track against HAFN, LIQT ranks #12 by 3-year correlation. The last year tells two different stories: HAFN led by 127.2 percentage points, +56.1% for HAFN against -71.1% for LIQT. Note the risk asymmetry: LIQT runs 1.8 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.
HAFN vs LIQT: side by side
| HAFN (Hafnia Limited) | LIQT (LiqTech International, Inc.) | |
|---|---|---|
| 1-year return | +56.1% | -71.1% |
| 5-year return | n/a | -98.6% |
| Volatility (ann.) | 38.6% | 68.6% |
| Beta vs S&P 500 | 0.70 | 0.75 |
| Max drawdown (3Y) | -50.2% | -87.4% |
| Market cap | $4.1B | – |
| P/E (trailing) | 8.6 | – |
| Dividend yield | 9.42% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HAFN | LIQT |
|---|---|---|
| 2022 | – | -93.4% |
| 2023 | – | +12.2% |
| 2024 | – | -46.0% |
| 2025 | +5.4% | -20.7% |
| 2026 | +69.2% | -61.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAFN and LIQT good diversifiers for each other?
Reasonably. At 0.32, HAFN and LIQT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HAFN and LIQT?
Using weekly returns as of 2026-08-27: 0.32 over 3 years, with 0.40 over the last year and n/a over 5 years.
Is LIQT a good diversifier for HAFN?
Reasonably. At 0.32, HAFN and LIQT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 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-liqt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hafn-vs-liqt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HAFN correlations · LIQT correlations
