IEFA vs VELO: Correlation
iShares Core MSCI EAFE ETF (IEFA) 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 IEFA and VELO?
Over the past 3 years, IEFA and VELO moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.10) than the 3-year average (-0.19). Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -705.2 %².
Within IEFA's tracked universe of 111 assets, VELO comes in at #106 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 160.1 percentage points (+21.8% for IEFA against +181.9% for VELO). Risk is not evenly split, since VELO carries 16.6 times the volatility of the other side.
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.
IEFA vs VELO: side by side
| IEFA (iShares Core MSCI EAFE ETF) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | +21.8% | +181.9% |
| 5-year return | +54.5% | -99.8% |
| Volatility (ann.) | 15.0% | 249.0% |
| Beta vs S&P 500 | 0.77 | -2.66 |
| Max drawdown (3Y) | -13.8% | -99.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 3.35% | 0.00% |
| Expense ratio | 0.07% | – |
| Assets under management | $190.1B | – |
| Sector / category | ETF · International | US Listed |
IEFA is a Foreign Large Blend fund from iShares: $190.1B under management, 1620 holdings, a 0.07% expense ratio, a 3.35% trailing dividend yield.
Year-by-year returns
| Year | IEFA | VELO |
|---|---|---|
| 2022 | -15.2% | -77.1% |
| 2023 | +18.0% | -77.8% |
| 2024 | +3.3% | -95.2% |
| 2025 | +32.1% | +35.7% |
| 2026 | +14.5% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEFA 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 IEFA and VELO?
The IEFA/VELO correlation stands at -0.19 on a 3-year window (1 year: 0.10, 5 years: -0.05), computed from weekly returns as of 2026-08-27.
Is VELO a good diversifier for IEFA?
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?
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/iefa-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iefa-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IEFA correlations · VELO correlations
