HYT vs VELO: Correlation
How closely do Blackrock Corporate High Yield Fund, Inc. (HYT) and Velo3D, Inc. (VELO) trade together? Their weekly returns over three years give a correlation of -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYT and VELO?
On 3 years of weekly data the HYT/VELO correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.03 versus -0.33 over 3 years. The 5-year figure is -0.14, and annualized covariance runs at -943.0 %².
VELO is close to the least connected end of HYT's tracked universe, ranking #14 of 17. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 183.5 percentage points (-1.6% for HYT against +181.9% for VELO). One caveat on sizing: VELO is 21.5 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.
HYT vs VELO: side by side
| HYT (Blackrock Corporate High Yield Fund, Inc.) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | -1.6% | +181.9% |
| 5-year return | +7.9% | -99.8% |
| Volatility (ann.) | 11.6% | 249.0% |
| Beta vs S&P 500 | 0.52 | -2.66 |
| Max drawdown (3Y) | -14.0% | -99.8% |
| Market cap | $1.4B | $0.4B |
| P/E (trailing) | 9.1 | – |
| Dividend yield | 11.29% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HYT | VELO |
|---|---|---|
| 2022 | -22.6% | -77.1% |
| 2023 | +19.9% | -77.8% |
| 2024 | +14.4% | -95.2% |
| 2025 | +0.0% | +35.7% |
| 2026 | +0.1% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYT and VELO good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HYT and VELO?
The HYT/VELO correlation stands at -0.33 on a 3-year window (1 year: -0.03, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is VELO a good diversifier for HYT?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 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/hyt-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hyt-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HYT correlations · VELO correlations
