VELO vs VXX: Correlation
Measured on weekly returns over the past three years, Velo3D, Inc. (VELO) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of 0.19, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VELO and VXX?
Across a 3-year window, the weekly returns of VELO and VXX correlate at 0.19, weak. The link has loosened recently: the 1-year correlation (-0.12) runs below the 3-year figure (0.19). Stretching to 5 years gives 0.11, with an annualized covariance of 2888.9 %².
By 3-year correlation, VXX places #7 of the 84 assets tracked against VELO. Correlation aside, the last 12 months split them widely, with VELO ahead by 231.6 points (+181.9% versus -49.7%). One caveat on sizing: VELO is 4.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 VXX: side by side
| VELO (Velo3D, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +181.9% | -49.7% |
| 5-year return | -99.8% | -95.6% |
| Volatility (ann.) | 249.0% | 60.9% |
| Beta vs S&P 500 | -2.66 | -3.31 |
| Max drawdown (3Y) | -99.8% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VELO | VXX |
|---|---|---|
| 2022 | -77.1% | -23.8% |
| 2023 | -77.8% | -72.5% |
| 2024 | -95.2% | -26.2% |
| 2025 | +35.7% | -42.2% |
| 2026 | -6.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VELO and VXX 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 VXX?
Using weekly returns as of 2026-08-27: 0.19 over 3 years, with -0.12 over the last year and 0.11 over 5 years.
Is VXX 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?
On the −1 to +1 scale, 0.19 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/velo-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/velo-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VELO correlations · VXX correlations
