COO vs VELO: Correlation
How closely do Cooper Companies (The) (COO) and Velo3D, Inc. (VELO) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COO and VELO?
Over the past 3 years, COO and VELO moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.17) sits close to the 3-year figure. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -1401.6 %².
By 3-year correlation, VELO places #29 of the 38 assets tracked against COO. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 186.2 percentage points (-4.3% for COO against +181.9% for VELO). Note the risk asymmetry: VELO runs 9.0 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.
COO vs VELO: side by side
| COO (Cooper Companies (The)) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | -4.3% | +181.9% |
| 5-year return | -36.8% | -99.8% |
| Volatility (ann.) | 27.7% | 249.0% |
| Beta vs S&P 500 | 0.69 | -2.66 |
| Max drawdown (3Y) | -47.0% | -99.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | 61.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | COO | VELO |
|---|---|---|
| 2022 | -21.1% | -77.1% |
| 2023 | +14.5% | -77.8% |
| 2024 | -2.8% | -95.2% |
| 2025 | -10.8% | +35.7% |
| 2026 | -13.4% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COO and VELO good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between COO and VELO?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.17 over the last year and -0.09 over 5 years.
Is VELO a good diversifier for COO?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 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/coo-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/coo-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: COO correlations · VELO correlations
