ADSE vs VELO: Correlation
ADS-TEC ENERGY PLC (ADSE) and Velo3D, Inc. (VELO) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADSE and VELO?
On 3 years of weekly data the ADSE/VELO correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.01) runs above the 3-year figure (-0.29). The 5-year figure is -0.15, and annualized covariance runs at -3541.1 %².
Among the 11 assets we track against ADSE, VELO sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with VELO ahead by 190.0 points (-8.1% versus +181.9%). Risk is not evenly split, since VELO carries 5.1 times the volatility of the other side.
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.
ADSE vs VELO: side by side
| ADSE (ADS-TEC ENERGY PLC) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | -8.1% | +181.9% |
| 5-year return | +14.5% | -99.8% |
| Volatility (ann.) | 49.2% | 249.0% |
| Beta vs S&P 500 | 0.35 | -2.66 |
| Max drawdown (3Y) | -48.1% | -99.8% |
| Market cap | $0.8B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ADSE | VELO |
|---|---|---|
| 2022 | -65.8% | -77.1% |
| 2023 | +129.2% | -77.8% |
| 2024 | +116.9% | -95.2% |
| 2025 | -18.2% | +35.7% |
| 2026 | -10.9% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADSE and VELO good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between ADSE and VELO?
The ADSE/VELO correlation stands at -0.29 on a 3-year window (1 year: -0.01, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is VELO a good diversifier for ADSE?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 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/adse-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adse-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ADSE correlations · VELO correlations
