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Velo3D, Inc. Common stock (VELO) vs Avg Hourly Earnings
Correlation
of % moves
-26%
In sync
of periods
70%
History
monthsmonths · through 2026-05
29
These move in the same direction about 70% of the time
Their swing sizes only faintly mirror each other (~7% of the pattern is shared).
A faint pattern — interesting as colour, not strong enough to act on alone.
On a log scale so equal % moves take equal vertical space — best when one series has grown much faster than the other.
What to Watch
Avg Hourly Earnings moves ~8 months before VELO
Watch Avg Hourly Earnings for an early read on VELO.
Swings around
Their relationship swings around — sometimes tight, sometimes loose. Don't trust a single snapshot.
Advanced
Statistics
In sync(i)
70.4%
Headline metric
Movement correlation(i)
-26%
Based on % moves
95% CI
-58% → +13%
Pipeline
Pipeline Summary
29 paired data points survived the monthly window.
Raw input
590
243
Normalized
590
243
Prepared
30
243
Aligned
29
29
Invalid removed
Likely range of correlation
R²(i)
6.7%
Variance explained
Significance
n.s.
Statistical confidence
Data points
29
Limited
Time-Shifted Correlation
See how correlation changes when one series is offset in time. A taller bar at a non-zero shift means the two move together better when one leads the other — that's a potential lead/lag signal.
Correlation by shift
Click a bar to inspect. Range: -8 to 8 months.
Selected shift
-8 months
Correlation at this shift
-43%
+18% stronger than no-shift baseline
Avg Hourly Earnings shifted 8 months later. Reads: "Does Velo3D, Inc. Common stock (VELO) today line up with Avg Hourly Earnings 8 months ago?"
11 overlapping points at this shift
Baseline
-26%
No-shift correlation, matching the main time-series chart above.
Peak shift
-8 months
-43%
A non-zero peak suggests one series lines up better when shifted against the other.
Stability
How the correlation evolves over time. A stable line means the relationship is reliable; large swings signal regime-dependent behavior.
Do They Crash Together?
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
-21%
19 periods · Return correlation when both series rose
Both Falling
N/A
0 periods · Return correlation when both series fell
Diverging
+19%
8 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
215
A: 1 / B: 214
Series A
Velo3D, Inc. Common stock (VELO)
VELO
Stock · 590 raw → 30 prepared
Series B
Avg Hourly Earnings
CES0500000003
FRED · 243 raw → 243 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
4
Estimated crossover points between normalized spreads.
Slope
-0.0016
Linear regression slope.
Intercept
0.0038
Linear regression intercept.
Saved last month · ID: fred-ces0500000003_stock-velo_monthly_5y