VELO vs VNQ: Correlation
How closely do Velo3D, Inc. (VELO) and Vanguard Real Estate ETF (VNQ) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VELO and VNQ?
Over the past 3 years, VELO and VNQ moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.11 over 1 year against -0.19 over 3. Over 5 years the correlation is -0.04, and the annualized covariance of weekly returns is -765.4 %².
Within VELO's tracked universe of 84 assets, VNQ comes in at #43 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 171.6 percentage points (+181.9% for VELO against +10.3% for VNQ). Risk is not evenly split, since VELO carries 15.0 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.
VELO vs VNQ: side by side
| VELO (Velo3D, Inc.) | VNQ (Vanguard Real Estate ETF) | |
|---|---|---|
| 1-year return | +181.9% | +10.3% |
| 5-year return | -99.8% | +9.5% |
| Volatility (ann.) | 249.0% | 16.6% |
| Beta vs S&P 500 | -2.66 | 0.59 |
| Max drawdown (3Y) | -99.8% | -17.5% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 3.51% |
| Expense ratio | – | 0.13% |
| Assets under management | – | $73.1B |
| Sector / category | US Listed | ETF · Real Estate |
VNQ is a Real Estate fund from Vanguard: $73.1B under management, 140 holdings, a 0.13% expense ratio, a 3.51% trailing dividend yield.
Year-by-year returns
| Year | VELO | VNQ |
|---|---|---|
| 2022 | -77.1% | -26.3% |
| 2023 | -77.8% | +11.9% |
| 2024 | -95.2% | +4.8% |
| 2025 | +35.7% | +3.2% |
| 2026 | -6.0% | +12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VELO and VNQ good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VELO and VNQ?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.11 over the last year and -0.04 over 5 years.
Is VNQ a good diversifier for VELO?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 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/velo-vs-vnq.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/velo-vs-vnq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VELO correlations · VNQ correlations
