DAC vs VELO: Correlation
Danaos Corporation (DAC) and Velo3D, Inc. (VELO) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAC and VELO?
Over the past 3 years, DAC and VELO moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -1555.8 %².
Out of 15 assets tracked against DAC, VELO lands near the bottom at #13. The last year tells two different stories: VELO led by 113.9 percentage points, +68.0% for DAC against +181.9% for VELO. Risk is not evenly split, since VELO carries 9.8 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.
DAC vs VELO: side by side
| DAC (Danaos Corporation) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | +68.0% | +181.9% |
| 5-year return | +112.7% | -99.8% |
| Volatility (ann.) | 25.3% | 249.0% |
| Beta vs S&P 500 | 0.58 | -2.66 |
| Max drawdown (3Y) | -28.9% | -99.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | 5.0 | – |
| Dividend yield | 2.44% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DAC | VELO |
|---|---|---|
| 2022 | -26.6% | -77.1% |
| 2023 | +47.5% | -77.8% |
| 2024 | +12.4% | -95.2% |
| 2025 | +20.0% | +35.7% |
| 2026 | +64.2% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAC and VELO good diversifiers for each other?
Yes. With a correlation of -0.25, DAC and VELO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DAC and VELO?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.26 over the last year and -0.08 over 5 years.
Is VELO a good diversifier for DAC?
Yes. With a correlation of -0.25, DAC and VELO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/dac-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dac-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DAC correlations · VELO correlations
