VELO vs VOO: Correlation
Measured on weekly returns over the past three years, Velo3D, Inc. (VELO) and Vanguard S&P 500 ETF (VOO) carry a correlation of -0.15, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VELO and VOO?
Over the past 3 years, VELO and VOO moved with a correlation of -0.15, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.21 versus -0.15 over 3 years. Over 5 years the correlation is 0.01, and the annualized covariance of weekly returns is -539.7 %².
Within VELO's tracked universe of 84 assets, VOO comes in at #15 by 3-year correlation. The last year tells two different stories: VELO led by 161.3 percentage points, +181.9% for VELO against +20.6% for VOO. Risk is not evenly split, since VELO carries 17.3 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 VOO: side by side
| VELO (Velo3D, Inc.) | VOO (Vanguard S&P 500 ETF) | |
|---|---|---|
| 1-year return | +181.9% | +20.6% |
| 5-year return | -99.8% | +83.0% |
| Volatility (ann.) | 249.0% | 14.4% |
| Beta vs S&P 500 | -2.66 | 0.99 |
| Max drawdown (3Y) | -99.8% | -18.7% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.07% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $1,686.9B |
| Sector / category | US Listed | ETF · US Large Cap |
VOO, Vanguard's Large Blend fund, carries $1,686.9B under management, 503 holdings, a 0.03% expense ratio, a 1.07% trailing dividend yield.
Year-by-year returns
| Year | VELO | VOO |
|---|---|---|
| 2022 | -77.1% | -18.2% |
| 2023 | -77.8% | +26.3% |
| 2024 | -95.2% | +25.0% |
| 2025 | +35.7% | +17.8% |
| 2026 | -6.0% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VELO and VOO good diversifiers for each other?
Yes. With a correlation of -0.15, VELO and VOO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VELO and VOO?
As of 2026-08-27, the correlation of weekly returns between VELO and VOO is -0.15 over 3 years, 0.21 over 1 year and 0.01 over 5 years.
Is VOO a good diversifier for VELO?
Yes. With a correlation of -0.15, VELO and VOO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.15 mean?
On the −1 to +1 scale, -0.15 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.
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Related comparisons
Hubs: VELO correlations · VOO correlations
