TEL vs VELO: Correlation
Measured on weekly returns over the past three years, TE Connectivity (TEL) and Velo3D, Inc. (VELO) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TEL and VELO?
Across a 3-year window, the weekly returns of TEL and VELO correlate at -0.17, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.06 versus -0.17 over 3 years. Stretching to 5 years gives -0.04, with an annualized covariance of -1237.7 %².
Within TEL's tracked universe of 36 assets, VELO comes in at #28 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 183.0 percentage points (-1.1% for TEL against +181.9% for VELO). Note the risk asymmetry: VELO runs 8.6 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.
TEL vs VELO: side by side
| TEL (TE Connectivity) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | -1.1% | +181.9% |
| 5-year return | +43.7% | -99.8% |
| Volatility (ann.) | 28.8% | 249.0% |
| Beta vs S&P 500 | 1.32 | -2.66 |
| Max drawdown (3Y) | -22.6% | -99.8% |
| Market cap | $58.8B | $0.4B |
| P/E (trailing) | 20.1 | – |
| Dividend yield | 1.42% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | TEL | VELO |
|---|---|---|
| 2022 | -27.7% | -77.1% |
| 2023 | +24.6% | -77.8% |
| 2024 | +3.5% | -95.2% |
| 2025 | +61.1% | +35.7% |
| 2026 | -9.8% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TEL and VELO good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TEL and VELO?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.06 over the last year and -0.04 over 5 years.
Is VELO a good diversifier for TEL?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
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/tel-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tel-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TEL correlations · VELO correlations
