BA vs VELO: Correlation
How closely do Boeing (BA) and Velo3D, Inc. (VELO) trade together? Their weekly returns over three years give a correlation of -0.14, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BA and VELO?
On 3 years of weekly data the BA/VELO correlation comes out at -0.14, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.30) than the 3-year average (-0.14). The 5-year figure is -0.05, and annualized covariance runs at -1276.5 %².
Within BA's tracked universe of 37 assets, VELO comes in at #30 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 192.8 percentage points (-10.9% for BA against +181.9% for VELO). Note the risk asymmetry: VELO runs 6.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BA vs VELO: side by side
| BA (Boeing) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | -10.9% | +181.9% |
| 5-year return | -3.6% | -99.8% |
| Volatility (ann.) | 36.4% | 249.0% |
| Beta vs S&P 500 | 1.43 | -2.66 |
| Max drawdown (3Y) | -48.3% | -99.8% |
| Market cap | $165.9B | $0.4B |
| P/E (trailing) | 76.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | BA | VELO |
|---|---|---|
| 2022 | -5.4% | -77.1% |
| 2023 | +36.8% | -77.8% |
| 2024 | -32.1% | -95.2% |
| 2025 | +22.7% | +35.7% |
| 2026 | -3.3% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BA and VELO good diversifiers for each other?
Yes. With a correlation of -0.14, BA and VELO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BA and VELO?
Using weekly returns as of 2026-08-27: -0.14 over 3 years, with 0.30 over the last year and -0.05 over 5 years.
Is VELO a good diversifier for BA?
Yes. With a correlation of -0.14, BA and VELO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.14 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/ba-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ba-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BA correlations · VELO correlations
