PXS vs VELO: Correlation
How closely do Pyxis Tankers Inc. (PXS) and Velo3D, Inc. (VELO) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PXS and VELO?
Over the past 3 years, PXS and VELO moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.18) sits close to the 3-year figure. Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -2373.3 %².
Out of 11 assets tracked against PXS, VELO lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with VELO ahead by 81.9 points (+100.0% versus +181.9%). Note the risk asymmetry: VELO runs 6.6 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.
PXS vs VELO: side by side
| PXS (Pyxis Tankers Inc.) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | +100.0% | +181.9% |
| 5-year return | +92.9% | -99.8% |
| Volatility (ann.) | 37.9% | 249.0% |
| Beta vs S&P 500 | 0.42 | -2.66 |
| Max drawdown (3Y) | -54.5% | -99.8% |
| Market cap | $0.1B | $0.4B |
| P/E (trailing) | 15.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PXS | VELO |
|---|---|---|
| 2022 | +151.0% | -77.1% |
| 2023 | -13.5% | -77.8% |
| 2024 | -5.8% | -95.2% |
| 2025 | -28.5% | +35.7% |
| 2026 | +92.2% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PXS and VELO good diversifiers for each other?
Yes. With a correlation of -0.25, PXS and VELO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PXS and VELO?
As of 2026-08-27, the correlation of weekly returns between PXS and VELO is -0.25 over 3 years, -0.18 over 1 year and -0.12 over 5 years.
Is VELO a good diversifier for PXS?
Yes. With a correlation of -0.25, PXS and VELO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/pxs-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pxs-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PXS correlations · VELO correlations
