ARKK vs JOBY: Correlation
Measured on weekly returns over the past three years, ARK Innovation ETF (ARKK) and Joby Aviation, Inc. (JOBY) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKK and JOBY?
Across a 3-year window, the weekly returns of ARKK and JOBY correlate at 0.63, strong. Lately the two have moved closer together, with the 1-year correlation at 0.76 versus 0.63 over 3 years. Stretching to 5 years gives 0.58, with an annualized covariance of 1704.9 %².
Among the 122 assets we track against ARKK, JOBY ranks #27 by 3-year correlation. The last year tells two different stories: ARKK led by 66.1 percentage points, +15.7% for ARKK against -50.4% for JOBY. One caveat on sizing: JOBY is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ARKK vs JOBY: side by side
| ARKK (ARK Innovation ETF) | JOBY (Joby Aviation, Inc.) | |
|---|---|---|
| 1-year return | +15.7% | -50.4% |
| 5-year return | -27.7% | -43.1% |
| Volatility (ann.) | 38.8% | 70.2% |
| Beta vs S&P 500 | 2.07 | 2.37 |
| Max drawdown (3Y) | -39.6% | -67.4% |
| Market cap | – | $7.1B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | ARKK | JOBY |
|---|---|---|
| 2022 | -67.0% | -54.1% |
| 2023 | +69.0% | +98.5% |
| 2024 | +8.4% | +22.3% |
| 2025 | +35.5% | +62.4% |
| 2026 | +13.6% | -45.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKK and JOBY good diversifiers for each other?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ARKK and JOBY?
As of 2026-08-27, the correlation of weekly returns between ARKK and JOBY is 0.63 over 3 years, 0.76 over 1 year and 0.58 over 5 years.
Is JOBY a good diversifier for ARKK?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/arkk-vs-joby.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/arkk-vs-joby/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARKK correlations · JOBY correlations
