MLPB vs VELO: Correlation
Measured on weekly returns over the past three years, ETRACS Alerian MLP Infrastructure Index ETN Series B due (MLPB) and Velo3D, Inc. (VELO) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLPB and VELO?
On 3 years of weekly data the MLPB/VELO correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. The 5-year figure is -0.13, and annualized covariance runs at -1074.3 %².
Among the 22 assets we track against MLPB, VELO sits near the bottom by co-movement, at rank #20. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 152.5 percentage points (+29.4% for MLPB against +181.9% for VELO). Risk is not evenly split, since VELO carries 15.1 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.
MLPB vs VELO: side by side
| MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B due) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | +29.4% | +181.9% |
| 5-year return | +186.2% | -99.8% |
| Volatility (ann.) | 16.5% | 249.0% |
| Beta vs S&P 500 | 0.32 | -2.66 |
| Max drawdown (3Y) | -16.5% | -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 | MLPB | VELO |
|---|---|---|
| 2022 | +30.2% | -77.1% |
| 2023 | +22.0% | -77.8% |
| 2024 | +25.5% | -95.2% |
| 2025 | +7.4% | +35.7% |
| 2026 | +29.7% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLPB and VELO good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MLPB and VELO?
As of 2026-08-27, the correlation of weekly returns between MLPB and VELO is -0.26 over 3 years, -0.26 over 1 year and -0.13 over 5 years.
Is VELO a good diversifier for MLPB?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 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/mlpb-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mlpb-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MLPB correlations · VELO correlations
