NTZ vs VELO: Correlation
Natuzzi, S.p.A. (NTZ) and Velo3D, Inc. (VELO) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTZ and VELO?
Over the past 3 years, NTZ and VELO moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.05) runs above the 3-year figure (-0.22). Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -2906.3 %².
Out of 10 assets tracked against NTZ, VELO lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 248.6 percentage points (-66.7% for NTZ against +181.9% for VELO). Risk is not evenly split, since VELO carries 4.8 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.
NTZ vs VELO: side by side
| NTZ (Natuzzi, S.p.A.) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | -66.7% | +181.9% |
| 5-year return | -93.4% | -99.8% |
| Volatility (ann.) | 52.2% | 249.0% |
| Beta vs S&P 500 | 1.05 | -2.66 |
| Max drawdown (3Y) | -86.3% | -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 | NTZ | VELO |
|---|---|---|
| 2022 | -51.7% | -77.1% |
| 2023 | -12.0% | -77.8% |
| 2024 | -29.1% | -95.2% |
| 2025 | -50.8% | +35.7% |
| 2026 | -57.6% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTZ and VELO good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between NTZ and VELO?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.05 over the last year and -0.12 over 5 years.
Is VELO a good diversifier for NTZ?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/ntz-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ntz-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NTZ correlations · VELO correlations
