DOC vs VELO: Correlation
Measured on weekly returns over the past three years, Healthpeak Properties (DOC) and Velo3D, Inc. (VELO) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOC and VELO?
Across a 3-year window, the weekly returns of DOC and VELO correlate at -0.19, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Stretching to 5 years gives -0.08, with an annualized covariance of -1258.1 %².
VELO is close to the least connected end of DOC's tracked universe, ranking #32 of 35. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 155.2 percentage points (+26.7% for DOC against +181.9% for VELO). One caveat on sizing: VELO is 9.2 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.
DOC vs VELO: side by side
| DOC (Healthpeak Properties) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | +26.7% | +181.9% |
| 5-year return | -21.6% | -99.8% |
| Volatility (ann.) | 27.1% | 249.0% |
| Beta vs S&P 500 | 0.53 | -2.66 |
| Max drawdown (3Y) | -26.0% | -99.8% |
| Market cap | $15.0B | $0.4B |
| P/E (trailing) | 62.4 | – |
| Dividend yield | 5.65% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | DOC | VELO |
|---|---|---|
| 2022 | -27.5% | -77.1% |
| 2023 | -16.4% | -77.8% |
| 2024 | +8.8% | -95.2% |
| 2025 | -15.2% | +35.7% |
| 2026 | +37.9% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOC and VELO good diversifiers for each other?
Yes. With a correlation of -0.19, DOC and VELO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DOC and VELO?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.21 over the last year and -0.08 over 5 years.
Is VELO a good diversifier for DOC?
Yes. With a correlation of -0.19, DOC and VELO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
A reading of -0.19 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/doc-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/doc-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOC correlations · VELO correlations
