L vs VELO: Correlation
Loews Corporation (L) 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 L and VELO?
On 3 years of weekly data the L/VELO correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.07 versus -0.19 over 3 years. The 5-year figure is -0.09, and annualized covariance runs at -787.8 %².
Among the 54 assets we track against L, VELO ranks #47 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VELO ahead by 167.7 points (+14.2% versus +181.9%). Note the risk asymmetry: VELO runs 15.0 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.
L vs VELO: side by side
| L (Loews Corporation) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | +14.2% | +181.9% |
| 5-year return | +100.1% | -99.8% |
| Volatility (ann.) | 16.6% | 249.0% |
| Beta vs S&P 500 | 0.33 | -2.66 |
| Max drawdown (3Y) | -12.2% | -99.8% |
| Market cap | $22.5B | $0.4B |
| P/E (trailing) | 13.5 | – |
| Dividend yield | 0.23% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | L | VELO |
|---|---|---|
| 2022 | +1.4% | -77.1% |
| 2023 | +19.8% | -77.8% |
| 2024 | +22.1% | -95.2% |
| 2025 | +24.7% | +35.7% |
| 2026 | +4.5% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are L 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 L and VELO?
The L/VELO correlation stands at -0.19 on a 3-year window (1 year: -0.07, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is VELO a good diversifier for L?
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?
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/l-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/l-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: L correlations · VELO correlations
