SCHD vs VELO: Correlation
Schwab US Dividend Equity ETF (SCHD) and Velo3D, Inc. (VELO) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCHD and VELO?
Across a 3-year window, the weekly returns of SCHD and VELO correlate at -0.17, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.05) than the 3-year average (-0.17). Stretching to 5 years gives -0.04, with an annualized covariance of -552.4 %².
Within SCHD's tracked universe of 108 assets, VELO comes in at #103 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VELO ahead by 152.3 points (+29.6% versus +181.9%). One caveat on sizing: VELO is 19.3 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.
SCHD vs VELO: side by side
| SCHD (Schwab US Dividend Equity ETF) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | +29.6% | +181.9% |
| 5-year return | +60.9% | -99.8% |
| Volatility (ann.) | 12.9% | 249.0% |
| Beta vs S&P 500 | 0.52 | -2.66 |
| Max drawdown (3Y) | -16.1% | -99.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 3.13% | 0.00% |
| Expense ratio | 0.06% | – |
| Assets under management | $104.2B | – |
| Sector / category | ETF · Dividend | US Listed |
On the fund side, SCHD sits in the Large Value category at Schwab ETFs, with $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield.
Year-by-year returns
| Year | SCHD | VELO |
|---|---|---|
| 2022 | -3.3% | -77.1% |
| 2023 | +4.5% | -77.8% |
| 2024 | +11.7% | -95.2% |
| 2025 | +4.3% | +35.7% |
| 2026 | +29.1% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCHD and VELO good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between SCHD and VELO?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with 0.05 over the last year and -0.04 over 5 years.
Is VELO a good diversifier for SCHD?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 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/schd-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/schd-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SCHD correlations · VELO correlations
