VELO vs XLRE: Correlation
Velo3D, Inc. (VELO) and Real Estate Select Sector SPDR Fund (XLRE) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VELO and XLRE?
On 3 years of weekly data the VELO/XLRE correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.11 lands near the 3-year figure. The 5-year figure is -0.05, and annualized covariance runs at -780.9 %².
Among the 84 assets we track against VELO, XLRE ranks #44 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VELO ahead by 172.4 points (+181.9% versus +9.5%). One caveat on sizing: VELO is 14.9 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 XLRE: side by side
| VELO (Velo3D, Inc.) | XLRE (Real Estate Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +181.9% | +9.5% |
| 5-year return | -99.8% | +11.4% |
| Volatility (ann.) | 249.0% | 16.7% |
| Beta vs S&P 500 | -2.66 | 0.57 |
| Max drawdown (3Y) | -99.8% | -16.6% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 3.12% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $8.6B |
| Sector / category | US Listed | Sector ETF |
On the fund side, XLRE sits in the Real Estate category at State Street Investment Management, with $8.6B under management, 31 holdings, a 0.08% expense ratio, a 3.12% trailing dividend yield.
Year-by-year returns
| Year | VELO | XLRE |
|---|---|---|
| 2022 | -77.1% | -26.2% |
| 2023 | -77.8% | +12.4% |
| 2024 | -95.2% | +5.1% |
| 2025 | +35.7% | +2.6% |
| 2026 | -6.0% | +12.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VELO and XLRE good diversifiers for each other?
Yes. With a correlation of -0.19, VELO and XLRE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VELO and XLRE?
As of 2026-08-27, the correlation of weekly returns between VELO and XLRE is -0.19 over 3 years, -0.11 over 1 year and -0.05 over 5 years.
Is XLRE a good diversifier for VELO?
Yes. With a correlation of -0.19, VELO and XLRE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
A reading of -0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/velo-vs-xlre.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/velo-vs-xlre/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VELO correlations · XLRE correlations
