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Velo3D, Inc. Common stock (VELO) vs Initial Jobless Claims
Correlation
of % moves
-13%
In sync
of periods
45%
History
weeksweeks · through 2026-26
121
These move in the same direction about 45% of the time
Their swing sizes only faintly mirror each other (~2% 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
Slipping looser
The recent pattern is looser than its long-run baseline — keep an eye on whether this sticks.
Initial Jobless Claims moves ~6 weeks before VELO
Watch Initial Jobless Claims for an early read on VELO.
Tighter in drawdowns
The relationship is stronger when both prices are falling than when both are rising — typical risk-off behaviour.
Flips between sync and inverse
Sometimes the two move together, sometimes opposite. Don't treat this as a stable signal.
Advanced
Statistics
In sync(i)
45%
Headline metric
Movement correlation(i)
-13%
Based on % moves
95% CI
N/A
Likely range
Pipeline
Pipeline Summary
121 paired data points survived the weekly window.
Raw input
589
3,104
Normalized
589
3,104
Prepared
123
3,104
Aligned
121
121
Invalid removed
2%
Variance explained
Significance
N/A
Statistical confidence
Data points(i)
119
Usable
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: -12 to 12 weeks.
Selected shift
-6 weeks
Correlation at this shift
+29%
+16% stronger than no-shift baseline
Initial Jobless Claims shifted 6 weeks later. Reads: "Does Velo3D, Inc. Common stock (VELO) today line up with Initial Jobless Claims 6 weeks ago?"
107 overlapping points at this shift
Baseline
-13%
No-shift correlation, matching the main time-series chart above.
Peak shift
-6 weeks
+29%
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
+7%
27 periods · Return correlation when both series rose
Both Falling
-29%
23 periods · Return correlation when both series fell
Diverging
-32%
69 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
2,985
A: 2 / B: 2983
Series A
Velo3D, Inc. Common stock (VELO)
VELO
Stock · 589 raw → 123 prepared
Series B
Initial Jobless Claims
ICSA
FRED · 3,104 raw → 3,104 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
11
Estimated crossover points between normalized spreads.
Slope
-0.0589
Linear regression slope.
Intercept
-0.0050
Linear regression intercept.
Saved 3 months ago · ID: fred-icsa_stock-velo_weekly_5y