TMUS vs VELO: Correlation
Measured on weekly returns over the past three years, T-Mobile US (TMUS) and Velo3D, Inc. (VELO) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TMUS and VELO?
Over the past 3 years, TMUS and VELO moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.17 over 1 year against -0.24 over 3. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -1468.4 %².
VELO is close to the least connected end of TMUS's tracked universe, ranking #27 of 31. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 209.9 percentage points (-28.0% for TMUS against +181.9% for VELO). Risk is not evenly split, since VELO carries 10.1 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.
TMUS vs VELO: side by side
| TMUS (T-Mobile US) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | -28.0% | +181.9% |
| 5-year return | +34.8% | -99.8% |
| Volatility (ann.) | 24.6% | 249.0% |
| Beta vs S&P 500 | 0.36 | -2.66 |
| Max drawdown (3Y) | -37.1% | -99.8% |
| Market cap | $190.7B | $0.4B |
| P/E (trailing) | 18.8 | – |
| Dividend yield | 2.27% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | TMUS | VELO |
|---|---|---|
| 2022 | +20.7% | -77.1% |
| 2023 | +15.0% | -77.8% |
| 2024 | +39.7% | -95.2% |
| 2025 | -6.6% | +35.7% |
| 2026 | -11.6% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TMUS and VELO good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TMUS and VELO?
The TMUS/VELO correlation stands at -0.24 on a 3-year window (1 year: -0.17, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is VELO a good diversifier for TMUS?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/tmus-vs-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tmus-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TMUS correlations · VELO correlations
