GEHC vs VELO: Correlation
GE HealthCare (GEHC) and Velo3D, Inc. (VELO) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEHC and VELO?
On 3 years of weekly data the GEHC/VELO correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.09 versus -0.22 over 3 years. The 5-year figure is -0.18, and annualized covariance runs at -1787.8 %².
Out of 52 assets tracked against GEHC, VELO lands near the bottom at #48. The last year tells two different stories: VELO led by 184.1 percentage points, -2.2% for GEHC against +181.9% for VELO. One caveat on sizing: VELO is 7.7 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.
GEHC vs VELO: side by side
| GEHC (GE HealthCare) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | -2.2% | +181.9% |
| 5-year return | n/a | -99.8% |
| Volatility (ann.) | 32.4% | 249.0% |
| Beta vs S&P 500 | 1.22 | -2.66 |
| Max drawdown (3Y) | -37.4% | -99.8% |
| Market cap | $32.7B | $0.4B |
| P/E (trailing) | 16.9 | – |
| Dividend yield | 0.19% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | GEHC | VELO |
|---|---|---|
| 2022 | – | -77.1% |
| 2023 | +32.6% | -77.8% |
| 2024 | +1.3% | -95.2% |
| 2025 | +5.1% | +35.7% |
| 2026 | -11.5% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GEHC and VELO good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between GEHC and VELO?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.09 over the last year and -0.18 over 5 years.
Is VELO a good diversifier for GEHC?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 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/gehc-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gehc-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GEHC correlations · VELO correlations
