A video capture device may include multiple cameras that simultaneously capture video data. The video capture device may include one or more motion sensors that track the motion of the video capture device during video capture. Using the motion data, motion vectors can be calculated and used by an encoder to compress and encode a stream of video data. The motion vectors calculated for one stream of video data can then be used to compress and encode a second stream of video data due to the symmetry of a first camera that captured the first video stream and a second camera that captured the second video stream. The video capture device and/or remote computing resources may stitch together the first and second video streams to generate a panoramic video.