TCRT vs VELO: Correlation
How closely do Alaunos Therapeutics, Inc. (TCRT) and Velo3D, Inc. (VELO) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TCRT and VELO?
Across a 3-year window, the weekly returns of TCRT and VELO correlate at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.33 lands near the 3-year figure. Stretching to 5 years gives 0.31, with an annualized covariance of 12026.0 %².
Few assets follow TCRT as closely as VELO, which ranks #1 of 131 tracked partners. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 194.1 percentage points (-12.2% for TCRT against +181.9% for VELO). Note the risk asymmetry: VELO runs 2.0 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.
TCRT vs VELO: side by side
| TCRT (Alaunos Therapeutics, Inc.) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | -12.2% | +181.9% |
| 5-year return | -99.3% | -99.8% |
| Volatility (ann.) | 121.9% | 249.0% |
| Beta vs S&P 500 | -1.11 | -2.66 |
| Max drawdown (3Y) | -95.0% | -99.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TCRT | VELO |
|---|---|---|
| 2022 | -40.4% | -77.1% |
| 2023 | -89.2% | -77.8% |
| 2024 | -81.8% | -95.2% |
| 2025 | +69.1% | +35.7% |
| 2026 | -48.6% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TCRT and VELO good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between TCRT and VELO?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.33 over the last year and 0.31 over 5 years.
Is VELO a good diversifier for TCRT?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 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/tcrt-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tcrt-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TCRT correlations · VELO correlations
