BMRN vs VELO: Correlation
How closely do BioMarin Pharmaceutical Inc. (BMRN) and Velo3D, Inc. (VELO) trade together? Their weekly returns over three years give a correlation of -0.42, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMRN and VELO?
On 3 years of weekly data the BMRN/VELO correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.14) than the 3-year average (-0.42). The 5-year figure is -0.26, and annualized covariance runs at -2973.3 %².
VELO is close to the least connected end of BMRN's tracked universe, ranking #12 of 12. Correlation aside, the last 12 months split them widely, with VELO ahead by 170.6 points (+11.3% versus +181.9%). One caveat on sizing: VELO is 8.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BMRN vs VELO: side by side
| BMRN (BioMarin Pharmaceutical Inc.) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | +11.3% | +181.9% |
| 5-year return | -21.6% | -99.8% |
| Volatility (ann.) | 28.1% | 249.0% |
| Beta vs S&P 500 | 0.46 | -2.66 |
| Max drawdown (3Y) | -49.8% | -99.8% |
| Market cap | $12.6B | $0.4B |
| P/E (trailing) | 176.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BMRN | VELO |
|---|---|---|
| 2022 | +17.1% | -77.1% |
| 2023 | -6.8% | -77.8% |
| 2024 | -31.8% | -95.2% |
| 2025 | -9.6% | +35.7% |
| 2026 | +9.9% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMRN and VELO good diversifiers for each other?
Yes. With a correlation of -0.42, BMRN and VELO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BMRN and VELO?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.14 over the last year and -0.26 over 5 years.
Is VELO a good diversifier for BMRN?
Yes. With a correlation of -0.42, BMRN and VELO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 mean?
A reading of -0.42 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
$ curl https://www.pairbook.io/api/v1/pairs/bmrn-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bmrn-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BMRN correlations · VELO correlations
