HAFN vs TNK: Correlation
Hafnia Limited (HAFN) and Teekay Tankers Ltd. (TNK) show a strong relationship: their 3-year correlation of weekly returns is 0.74.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAFN and TNK?
On 3 years of weekly data the HAFN/TNK correlation comes out at 0.74, strong. Recent behaviour matches the longer record: 0.76 over 1 year against 0.74 over 3. The 5-year figure is n/a, and annualized covariance runs at 1098.5 %².
Within HAFN's tracked universe of 22 assets, TNK comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TNK ahead by 31.2 points (+56.1% versus +87.3%).
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 TNK: side by side
| HAFN (Hafnia Limited) | TNK (Teekay Tankers Ltd.) | |
|---|---|---|
| 1-year return | +56.1% | +87.3% |
| 5-year return | n/a | +813.1% |
| Volatility (ann.) | 38.6% | 38.5% |
| Beta vs S&P 500 | 0.70 | 0.51 |
| Max drawdown (3Y) | -50.2% | -52.4% |
| Market cap | $4.1B | $3.1B |
| P/E (trailing) | 8.6 | 4.9 |
| Dividend yield | 9.42% | 1.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HAFN | TNK |
|---|---|---|
| 2022 | – | +182.7% |
| 2023 | – | +69.2% |
| 2024 | – | -16.6% |
| 2025 | +5.4% | +39.6% |
| 2026 | +69.2% | +68.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAFN and TNK good diversifiers for each other?
Only partially. A correlation of 0.74 means HAFN and TNK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between HAFN and TNK?
As of 2026-08-27, the correlation of weekly returns between HAFN and TNK is 0.74 over 3 years, 0.76 over 1 year and n/a over 5 years.
Is TNK a good diversifier for HAFN?
Only partially. A correlation of 0.74 means HAFN and TNK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 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-tnk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hafn-vs-tnk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HAFN correlations · TNK correlations
