Hafnia Limited (HAFN) — Stock Correlations & Overview
Over the past year, HAFN has moved most closely with TRMD, ASC, TNK. Explore the stocks most correlated and inversely correlated with HAFN below, along with its price, financials, and company profile.
Stocks correlated with HAFN
Correlation of daily returns. Higher positive values move with HAFN; negative values move opposite it. Informational only, not investment advice.
Most correlated with HAFN
| Symbol | Company | Correlation |
|---|---|---|
| TRMD | TORM plc Class A Common Stock | 0.84 |
| ASC | ARDMORE SHIPPING CORPORATION | 0.75 |
| TNK | Teekay Tankers Ltd. | 0.74 |
| FRO | Frontline Plc | 0.73 |
| INSW | International Seaways, Inc. Common StockWATER TRANSPORTATION | 0.73 |
Most inversely correlated with HAFN
| Symbol | Company | Correlation |
|---|---|---|
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.27 |
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.27 |
| BZQ | ProShares UltraShort MSCI Brazil Capped | -0.25 |
| ERY | Direxion Daily Energy Bear 2X ETF | -0.25 |
| NRGD | MicroSectors U.S. Big Oil -3x Inverse Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC | -0.25 |
Frequently asked questions about HAFN correlations
- Which stocks are most correlated with HAFN?
- Based on one year of daily returns, the stocks most correlated with Hafnia Limited (HAFN) are TRMD (0.84), ASC (0.75) and TNK (0.74). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with HAFN?
- Over the past year, the stocks most inversely correlated with Hafnia Limited (HAFN) are OILD (-0.27), DRIP (-0.27) and BZQ (-0.25). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these HAFN correlations calculated?
- We compute the correlation of daily returns between HAFN and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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