IVV vs VELO: Correlation
How closely do iShares Core S&P 500 ETF (IVV) and Velo3D, Inc. (VELO) trade together? Their weekly returns over three years give a correlation of -0.15, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVV and VELO?
On 3 years of weekly data the IVV/VELO correlation comes out at -0.15, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.22) than the 3-year average (-0.15). The 5-year figure is 0.00, and annualized covariance runs at -551.5 %².
Among the 122 assets we track against IVV, VELO ranks #114 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 161.2 percentage points (+20.7% for IVV against +181.9% for VELO). One caveat on sizing: VELO is 17.2 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.
IVV vs VELO: side by side
| IVV (iShares Core S&P 500 ETF) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | +20.7% | +181.9% |
| 5-year return | +83.0% | -99.8% |
| Volatility (ann.) | 14.5% | 249.0% |
| Beta vs S&P 500 | 1.00 | -2.66 |
| Max drawdown (3Y) | -18.8% | -99.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 1.09% | 0.00% |
| Expense ratio | 0.03% | – |
| Assets under management | $869.2B | – |
| Sector / category | ETF · US Large Cap | US Listed |
IVV is a Large Blend fund from iShares: $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield.
Year-by-year returns
| Year | IVV | VELO |
|---|---|---|
| 2022 | -18.2% | -77.1% |
| 2023 | +26.3% | -77.8% |
| 2024 | +24.9% | -95.2% |
| 2025 | +17.8% | +35.7% |
| 2026 | +13.7% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVV and VELO good diversifiers for each other?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IVV and VELO?
Using weekly returns as of 2026-08-27: -0.15 over 3 years, with 0.22 over the last year and 0.00 over 5 years.
Is VELO a good diversifier for IVV?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.15 mean?
On the −1 to +1 scale, -0.15 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/ivv-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ivv-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IVV correlations · VELO correlations
