HAFN vs QQQ: Correlation
Hafnia Limited (HAFN) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAFN and QQQ?
Over the past 3 years, HAFN and QQQ moved with a correlation of 0.24, which is weak. Lately the two have drifted apart, with the 1-year correlation at 0.05 versus 0.24 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 186.6 %².
Within HAFN's tracked universe of 22 assets, QQQ comes in at #14 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HAFN ahead by 29.8 points (+56.1% versus +26.3%). One caveat on sizing: HAFN is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 QQQ: side by side
| HAFN (Hafnia Limited) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +56.1% | +26.3% |
| 5-year return | n/a | +95.4% |
| Volatility (ann.) | 38.6% | 19.6% |
| Beta vs S&P 500 | 0.70 | 1.28 |
| Max drawdown (3Y) | -50.2% | -22.8% |
| Market cap | $4.1B | – |
| P/E (trailing) | 8.6 | – |
| Dividend yield | 9.42% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | HAFN | QQQ |
|---|---|---|
| 2022 | – | -32.6% |
| 2023 | – | +54.9% |
| 2024 | – | +25.6% |
| 2025 | +5.4% | +20.8% |
| 2026 | +69.2% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAFN and QQQ good diversifiers for each other?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HAFN and QQQ?
As of 2026-08-27, the correlation of weekly returns between HAFN and QQQ is 0.24 over 3 years, 0.05 over 1 year and n/a over 5 years.
Is QQQ a good diversifier for HAFN?
A fair diversifier. At 0.24, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.24 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hafn-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hafn-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HAFN correlations · QQQ correlations
