EFA vs VELO: Correlation
iShares MSCI EAFE ETF (EFA) and Velo3D, Inc. (VELO) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFA and VELO?
Across a 3-year window, the weekly returns of EFA and VELO correlate at -0.19, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.12) than the 3-year average (-0.19). Stretching to 5 years gives -0.05, with an annualized covariance of -711.5 %².
Within EFA's tracked universe of 109 assets, VELO comes in at #104 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 160.0 percentage points (+21.9% for EFA against +181.9% for VELO). Note the risk asymmetry: VELO runs 16.7 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.
EFA vs VELO: side by side
| EFA (iShares MSCI EAFE ETF) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | +21.9% | +181.9% |
| 5-year return | +56.7% | -99.8% |
| Volatility (ann.) | 14.9% | 249.0% |
| Beta vs S&P 500 | 0.77 | -2.66 |
| Max drawdown (3Y) | -14.1% | -99.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 3.19% | 0.00% |
| Expense ratio | 0.32% | – |
| Assets under management | $78.0B | – |
| Sector / category | ETF · International | US Listed |
EFA is a Foreign Large Blend fund from iShares: $78.0B under management, 666 holdings, a 0.32% expense ratio, a 3.19% trailing dividend yield.
Year-by-year returns
| Year | EFA | VELO |
|---|---|---|
| 2022 | -14.4% | -77.1% |
| 2023 | +18.4% | -77.8% |
| 2024 | +3.5% | -95.2% |
| 2025 | +31.5% | +35.7% |
| 2026 | +14.3% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFA and VELO good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EFA and VELO?
As of 2026-08-27, the correlation of weekly returns between EFA and VELO is -0.19 over 3 years, 0.12 over 1 year and -0.05 over 5 years.
Is VELO a good diversifier for EFA?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
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/efa-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/efa-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EFA correlations · VELO correlations
