HAFN vs TRMD: Correlation
Hafnia Limited (HAFN) and TORM plc (TRMD) show a very strong relationship: their 3-year correlation of weekly returns is 0.81.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAFN and TRMD?
Over the past 3 years, HAFN and TRMD moved with a correlation of 0.81, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.82 over 1 year against 0.81 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1248.8 %².
Few assets follow HAFN as closely as TRMD, which ranks #1 of 22 tracked partners. On 12-month performance TRMD holds a 5.3-point edge, +56.1% against +61.4%.
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 TRMD: side by side
| HAFN (Hafnia Limited) | TRMD (TORM plc) | |
|---|---|---|
| 1-year return | +56.1% | +61.4% |
| 5-year return | n/a | +679.6% |
| Volatility (ann.) | 38.6% | 39.6% |
| Beta vs S&P 500 | 0.70 | 0.60 |
| Max drawdown (3Y) | -50.2% | -60.6% |
| Market cap | $4.1B | $3.3B |
| P/E (trailing) | 8.6 | 5.2 |
| Dividend yield | 9.42% | 7.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HAFN | TRMD |
|---|---|---|
| 2022 | – | +297.7% |
| 2023 | – | +31.6% |
| 2024 | – | -23.5% |
| 2025 | +5.4% | +11.3% |
| 2026 | +69.2% | +70.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAFN and TRMD good diversifiers for each other?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between HAFN and TRMD?
The HAFN/TRMD correlation stands at 0.81 on a 3-year window (1 year: 0.82, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TRMD a good diversifier for HAFN?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.81 mean?
A reading of 0.81 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
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Related comparisons
Hubs: HAFN correlations · TRMD correlations
