LOCL vs VELO: Correlation
Local Bounti Corporation (LOCL) and Velo3D, Inc. (VELO) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOCL and VELO?
Over the past 3 years, LOCL and VELO moved with a correlation of 0.37, which is moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 13233.7 %².
VELO is one of the assets that tracks LOCL most closely: it ranks #2 out of the 34 assets we track against LOCL. The last year tells two different stories: VELO led by 240.7 percentage points, -58.8% for LOCL against +181.9% for VELO. One caveat on sizing: VELO is 1.7 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.
LOCL vs VELO: side by side
| LOCL (Local Bounti Corporation) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | -58.8% | +181.9% |
| 5-year return | -99.2% | -99.8% |
| Volatility (ann.) | 142.7% | 249.0% |
| Beta vs S&P 500 | -0.49 | -2.66 |
| Max drawdown (3Y) | -79.4% | -99.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LOCL | VELO |
|---|---|---|
| 2022 | -78.4% | -77.1% |
| 2023 | -88.5% | -77.8% |
| 2024 | +0.0% | -95.2% |
| 2025 | +3.4% | +35.7% |
| 2026 | -53.8% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOCL and VELO good diversifiers for each other?
Reasonably. At 0.37, LOCL and VELO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LOCL and VELO?
The LOCL/VELO correlation stands at 0.37 on a 3-year window (1 year: 0.31, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is VELO a good diversifier for LOCL?
Reasonably. At 0.37, LOCL and VELO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/locl-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/locl-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LOCL correlations · VELO correlations
