PLD vs VELO: Correlation
Measured on weekly returns over the past three years, Prologis (PLD) and Velo3D, Inc. (VELO) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLD and VELO?
Across a 3-year window, the weekly returns of PLD and VELO correlate at -0.16, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.01) than the 3-year average (-0.16). Stretching to 5 years gives -0.05, with an annualized covariance of -1054.9 %².
Within PLD's tracked universe of 40 assets, VELO comes in at #34 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VELO ahead by 151.9 points (+30.0% versus +181.9%). One caveat on sizing: VELO is 9.7 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.
PLD vs VELO: side by side
| PLD (Prologis) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | +30.0% | +181.9% |
| 5-year return | +22.5% | -99.8% |
| Volatility (ann.) | 25.8% | 249.0% |
| Beta vs S&P 500 | 0.90 | -2.66 |
| Max drawdown (3Y) | -31.4% | -99.8% |
| Market cap | $137.9B | $0.4B |
| P/E (trailing) | 31.7 | – |
| Dividend yield | 2.92% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | PLD | VELO |
|---|---|---|
| 2022 | -31.3% | -77.1% |
| 2023 | +21.6% | -77.8% |
| 2024 | -18.1% | -95.2% |
| 2025 | +25.1% | +35.7% |
| 2026 | +12.8% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLD and VELO good diversifiers for each other?
Yes. With a correlation of -0.16, PLD and VELO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PLD and VELO?
As of 2026-08-27, the correlation of weekly returns between PLD and VELO is -0.16 over 3 years, 0.01 over 1 year and -0.05 over 5 years.
Is VELO a good diversifier for PLD?
Yes. With a correlation of -0.16, PLD and VELO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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/pld-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pld-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PLD correlations · VELO correlations
