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Velo3D, Inc. Common stock (VELO) vs Building Permits
Correlation
of % moves
-28%
In sync
of periods
26%
History
monthsmonths · through 2026-08
29
These move in the same direction about 26% of the time
Their swing sizes only faintly mirror each other (~8% of the pattern is shared).
Strong enough to use as a signal — check the stability and regime notes below before relying on it.
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
VELO moves ~4 months before Building Permits
Watch VELO for an early read on Building Permits.
Flips between sync and inverse
Sometimes the two move together, sometimes opposite. Don't treat this as a stable signal.
Explore
Advanced
Statistics
In sync(i)
26%
Headline metric
Movement correlation(i)
-28%
Based on % moves
95% CI
-59% → +12%
Pipeline
Pipeline Summary
29 paired data points survived the monthly window.
Raw input
589
800
Normalized
589
800
Prepared
30
800
Aligned
29
29
Invalid removed
Likely range of correlation
R²(i)
8%
Variance explained
Significance
n.s.
Statistical confidence
Data points(i)
27
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
+4 months
Correlation at this shift
+51%
+23% stronger than no-shift baseline
Building Permits shifted 4 months earlier. Reads: "Does Velo3D, Inc. Common stock (VELO) today line up with Building Permits 4 months from now?"
19 overlapping points at this shift
Baseline
-28%
No-shift correlation, matching the main time-series chart above.
Peak shift
+4 months
+51%
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
+52%
5 periods · Return correlation when both series rose
Both Falling
N/A
2 periods · Return correlation when both series fell
Diverging
-44%
20 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
772
A: 1 / B: 771
Series A
Velo3D, Inc. Common stock (VELO)
VELO
Stock · 589 raw → 30 prepared
Series B
Building Permits
PERMIT
FRED · 800 raw → 800 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
3
Estimated crossover points between normalized spreads.
Slope
-0.0573
Linear regression slope.
Intercept
-0.0022
Linear regression intercept.
Saved 5 months ago · ID: fred-permit_stock-velo_monthly_5y
Explore
Top 10 by absolute correlation
Ranked across both sides of this comparison using the same dense row format as the single-symbol correlations view.