Joby Aviation Correlations
| JOBY Stock | USD 6.80 0.60 9.68% |
The current 90-days correlation between Joby Aviation and Archer Aviation is 0.68 (i.e., Poor diversification). The correlation of Joby Aviation is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
Joby Aviation Correlation With Market
Modest diversification
The correlation between Joby Aviation and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Joby Aviation and DJI in the same portfolio, assuming nothing else is changed.
Joby |
Moving together with Joby Stock
| 0.69 | BR | Broadridge Financial | PairCorr |
| 0.62 | IR | Ingersoll Rand Sell-off Trend | PairCorr |
| 0.68 | KC | Kingsoft Cloud Holdings Tech Boost | PairCorr |
Moving against Joby Stock
| 0.47 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.46 | CP | Canadian Pacific Railway | PairCorr |
| 0.4 | AP | Ampco Pittsburgh | PairCorr |
| 0.72 | CODI-PA | Compass Diversified | PairCorr |
| 0.64 | CODI-PB | Compass Diversified | PairCorr |
| 0.52 | ST | Sensata Technologies | PairCorr |
| 0.5 | RR | Richtech Robotics Class | PairCorr |
| 0.47 | DLHC | DLH Holdings Corp Fiscal Year End 4th of December 2024 | PairCorr |
| 0.46 | VCIG | VCI Global Limited | PairCorr |
| 0.39 | CODI-PC | Compass Diversified | PairCorr |
Related Correlations Analysis
| -0.55 | 0.04 | 0.72 | -0.21 | ACHR | ||
| -0.55 | -0.58 | -0.76 | 0.74 | LILM | ||
| 0.04 | -0.58 | 0.43 | -0.54 | BLDE | ||
| 0.72 | -0.76 | 0.43 | -0.73 | RKLB | ||
| -0.21 | 0.74 | -0.54 | -0.73 | EVTL | ||
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Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Joby Stock performing well and Joby Aviation Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Joby Aviation's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ACHR | 3.81 | 0.58 | 0.17 | 0.44 | 2.96 | 11.14 | 24.09 | |||
| LILM | 10.14 | (0.90) | 0.00 | 0.29 | 0.00 | 14.58 | 126.32 | |||
| BLDE | 2.71 | (0.02) | 0.03 | 0.09 | 3.45 | 6.13 | 17.23 | |||
| RKLB | 4.25 | 1.66 | 0.50 | 0.70 | 2.57 | 12.54 | 36.25 | |||
| EVTL | 5.43 | (0.73) | 0.00 | (0.65) | 0.00 | 12.47 | 35.67 |
Joby Aviation Corporate Management
| Justin Lang | Head of Partnerships & Corporate Strategy | Profile | |
| Eric Allison | Chief Officer | Profile | |
| Paul Sciarra | Executive Chairman of the Board | Profile | |
| Kate DeHoff | General Secretary | Profile |