QQQ vs VELO: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and Velo3D, Inc. (VELO) carry a correlation of -0.11, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and VELO?
On 3 years of weekly data the QQQ/VELO correlation comes out at -0.11, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.26) runs above the 3-year figure (-0.11). The 5-year figure is 0.03, and annualized covariance runs at -554.7 %².
Within QQQ's tracked universe of 4755 assets, VELO comes in at #4723 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 155.6 percentage points (+26.3% for QQQ against +181.9% for VELO). Risk is not evenly split, since VELO carries 12.7 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.
QQQ vs VELO: side by side
| QQQ (Invesco QQQ Trust) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +181.9% |
| 5-year return | +95.4% | -99.8% |
| Volatility (ann.) | 19.6% | 249.0% |
| Beta vs S&P 500 | 1.28 | -2.66 |
| Max drawdown (3Y) | -22.8% | -99.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | VELO |
|---|---|---|
| 2022 | -32.6% | -77.1% |
| 2023 | +54.9% | -77.8% |
| 2024 | +25.6% | -95.2% |
| 2025 | +20.8% | +35.7% |
| 2026 | +17.7% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and VELO good diversifiers for each other?
Yes. With a correlation of -0.11, QQQ and VELO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and VELO?
As of 2026-08-27, the correlation of weekly returns between QQQ and VELO is -0.11 over 3 years, 0.26 over 1 year and 0.03 over 5 years.
Is VELO a good diversifier for QQQ?
Yes. With a correlation of -0.11, QQQ and VELO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.11 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/qqq-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/qqq-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: QQQ correlations · VELO correlations
