HAFN vs SFL: Correlation
How closely do Hafnia Limited (HAFN) and SFL Corporation Ltd (SFL) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAFN and SFL?
Across a 3-year window, the weekly returns of HAFN and SFL correlate at 0.62, strong. The past 12 months show a tighter link (0.75) than the 3-year average (0.62). Stretching to 5 years gives n/a, with an annualized covariance of 705.7 %².
Among the 22 assets we track against HAFN, SFL ranks #9 by 3-year correlation. Twelve-month performance is nearly a tie, at +56.1% for HAFN and +55.4% for SFL.
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 SFL: side by side
| HAFN (Hafnia Limited) | SFL (SFL Corporation Ltd) | |
|---|---|---|
| 1-year return | +56.1% | +55.4% |
| 5-year return | n/a | +130.7% |
| Volatility (ann.) | 38.6% | 28.0% |
| Beta vs S&P 500 | 0.70 | 0.53 |
| Max drawdown (3Y) | -50.2% | -46.4% |
| Market cap | $4.1B | $1.7B |
| P/E (trailing) | 8.6 | 25.2 |
| Dividend yield | 9.42% | 3.33% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HAFN | SFL |
|---|---|---|
| 2022 | – | +23.5% |
| 2023 | – | +34.5% |
| 2024 | – | -0.8% |
| 2025 | +5.4% | -18.6% |
| 2026 | +69.2% | +64.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAFN and SFL good diversifiers for each other?
To a limited degree. At 0.62 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 SFL?
As of 2026-08-27, the correlation of weekly returns between HAFN and SFL is 0.62 over 3 years, 0.75 over 1 year and n/a over 5 years.
Is SFL a good diversifier for HAFN?
To a limited degree. At 0.62 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 0.62 mean?
A reading of 0.62 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-sfl.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hafn-vs-sfl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HAFN correlations · SFL correlations
