AMUB vs VELO: Correlation
ETRACS Alerian MLP Index ETN Series B due July 18, 2042 (AMUB) and Velo3D, Inc. (VELO) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMUB and VELO?
Over the past 3 years, AMUB and VELO moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -1065.4 %².
Among the 20 assets we track against AMUB, VELO sits near the bottom by co-movement, at rank #18. The last year tells two different stories: VELO led by 151.0 percentage points, +30.9% for AMUB against +181.9% for VELO. Risk is not evenly split, since VELO carries 15.1 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.
AMUB vs VELO: side by side
| AMUB (ETRACS Alerian MLP Index ETN Series B due July 18, 2042) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | +30.9% | +181.9% |
| 5-year return | +191.0% | -99.8% |
| Volatility (ann.) | 16.5% | 249.0% |
| Beta vs S&P 500 | 0.31 | -2.66 |
| Max drawdown (3Y) | -17.0% | -99.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMUB | VELO |
|---|---|---|
| 2022 | +29.9% | -77.1% |
| 2023 | +25.4% | -77.8% |
| 2024 | +23.0% | -95.2% |
| 2025 | +8.7% | +35.7% |
| 2026 | +29.6% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMUB and VELO good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMUB and VELO?
The AMUB/VELO correlation stands at -0.26 on a 3-year window (1 year: -0.25, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is VELO a good diversifier for AMUB?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amub-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amub-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMUB correlations · VELO correlations
