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Velo3D, Inc. Common stock (VELO) vs Building Permits
Correlation
of % moves
-21%
In sync
of periods
35%
History
monthsmonths · through 2026-04
28
These move in the same direction about 35% of the time
Their swing sizes only faintly mirror each other (~5% 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 ~5 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.
Advanced
Statistics
In sync(i)
34.6%
Headline metric
Movement correlation(i)
-21%
Based on % moves
95% CI
-55% → +19%
Pipeline
Pipeline Summary
28 paired data points survived the monthly window.
Raw input
590
796
Normalized
590
796
Prepared
30
796
Aligned
28
28
Invalid removed
Likely range of correlation
R²(i)
4.5%
Variance explained
Significance
n.s.
Statistical confidence
Data points
28
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
+5 months
Correlation at this shift
-61%
+40% stronger than no-shift baseline
Building Permits shifted 5 months earlier. Reads: "Does Velo3D, Inc. Common stock (VELO) today line up with Building Permits 5 months from now?"
16 overlapping points at this shift
Baseline
-21%
No-shift correlation, matching the main time-series chart above.
Peak shift
+5 months
-61%
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
+36%
7 periods · Return correlation when both series rose
Both Falling
N/A
2 periods · Return correlation when both series fell
Diverging
-48%
17 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
770
A: 2 / B: 768
Series A
Velo3D, Inc. Common stock (VELO)
VELO
Stock · 590 raw → 30 prepared
Series B
Building Permits
PERMIT
FRED · 796 raw → 796 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
-0.0534
Linear regression slope.
Intercept
-0.0021
Linear regression intercept.
Saved last month · ID: fred-permit_stock-velo_monthly_5y