HTD vs VELO: Correlation
John Hancock Tax Advantaged Dividend Income Fund (HTD) and Velo3D, Inc. (VELO) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTD and VELO?
On 3 years of weekly data the HTD/VELO correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. The 5-year figure is -0.06, and annualized covariance runs at -719.2 %².
VELO is close to the least connected end of HTD's tracked universe, ranking #21 of 23. The last year tells two different stories: VELO led by 170.9 percentage points, +11.0% for HTD against +181.9% for VELO. Note the risk asymmetry: VELO runs 15.7 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.
HTD vs VELO: side by side
| HTD (John Hancock Tax Advantaged Dividend Income Fund) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | +11.0% | +181.9% |
| 5-year return | +50.6% | -99.8% |
| Volatility (ann.) | 15.9% | 249.0% |
| Beta vs S&P 500 | 0.43 | -2.66 |
| Max drawdown (3Y) | -15.7% | -99.8% |
| Market cap | $0.9B | $0.4B |
| P/E (trailing) | 5.3 | – |
| Dividend yield | 7.30% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HTD | VELO |
|---|---|---|
| 2022 | -6.2% | -77.1% |
| 2023 | -9.9% | -77.8% |
| 2024 | +25.7% | -95.2% |
| 2025 | +15.9% | +35.7% |
| 2026 | +12.1% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTD and VELO good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HTD and VELO?
The HTD/VELO correlation stands at -0.18 on a 3-year window (1 year: -0.20, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is VELO a good diversifier for HTD?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 mean?
A reading of -0.18 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/htd-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/htd-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HTD correlations · VELO correlations
