SMMT vs VELO: Correlation
How closely do Summit Therapeutics Inc. (SMMT) and Velo3D, Inc. (VELO) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMMT and VELO?
On 3 years of weekly data the SMMT/VELO correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.08) runs above the 3-year figure (-0.23). The 5-year figure is -0.12, and annualized covariance runs at -8620.7 %².
VELO is close to the least connected end of SMMT's tracked universe, ranking #13 of 13. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 224.1 percentage points (-42.2% for SMMT against +181.9% for VELO). Risk is not evenly split, since VELO carries 1.7 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.
SMMT vs VELO: side by side
| SMMT (Summit Therapeutics Inc.) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | -42.2% | +181.9% |
| 5-year return | +78.5% | -99.8% |
| Volatility (ann.) | 150.4% | 249.0% |
| Beta vs S&P 500 | 2.43 | -2.66 |
| Max drawdown (3Y) | -66.1% | -99.8% |
| Market cap | $11.4B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SMMT | VELO |
|---|---|---|
| 2022 | +58.0% | -77.1% |
| 2023 | -38.6% | -77.8% |
| 2024 | +583.7% | -95.2% |
| 2025 | -2.0% | +35.7% |
| 2026 | -18.1% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMMT and VELO good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between SMMT and VELO?
As of 2026-08-27, the correlation of weekly returns between SMMT and VELO is -0.23 over 3 years, 0.08 over 1 year and -0.12 over 5 years.
Is VELO a good diversifier for SMMT?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/smmt-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/smmt-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SMMT correlations · VELO correlations
