INVH vs VELO: Correlation
Measured on weekly returns over the past three years, Invitation Homes (INVH) and Velo3D, Inc. (VELO) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INVH and VELO?
On 3 years of weekly data the INVH/VELO correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.17 over 1 year against -0.19 over 3. The 5-year figure is -0.08, and annualized covariance runs at -1012.3 %².
By 3-year correlation, VELO places #22 of the 28 assets tracked against INVH. The last year tells two different stories: VELO led by 183.8 percentage points, -1.9% for INVH against +181.9% for VELO. One caveat on sizing: VELO is 11.7 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.
INVH vs VELO: side by side
| INVH (Invitation Homes) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | -1.9% | +181.9% |
| 5-year return | -16.8% | -99.8% |
| Volatility (ann.) | 21.2% | 249.0% |
| Beta vs S&P 500 | 0.50 | -2.66 |
| Max drawdown (3Y) | -30.9% | -99.8% |
| Market cap | $17.4B | $0.4B |
| P/E (trailing) | 27.3 | – |
| Dividend yield | 3.98% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | INVH | VELO |
|---|---|---|
| 2022 | -33.0% | -77.1% |
| 2023 | +19.7% | -77.8% |
| 2024 | -3.1% | -95.2% |
| 2025 | -9.7% | +35.7% |
| 2026 | +7.6% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INVH and VELO good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between INVH and VELO?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.17 over the last year and -0.08 over 5 years.
Is VELO a good diversifier for INVH?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/invh-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/invh-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INVH correlations · VELO correlations
