DPRO vs JOBY: Correlation
Draganfly Inc. (DPRO) and Joby Aviation, Inc. (JOBY) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DPRO and JOBY?
Across a 3-year window, the weekly returns of DPRO and JOBY correlate at 0.48, moderate. The past 12 months show a tighter link (0.61) than the 3-year average (0.48). Stretching to 5 years gives 0.39, with an annualized covariance of 3981.8 %².
JOBY is one of the assets that tracks DPRO most closely: it ranks #2 out of the 12 assets we track against DPRO. The last year tells two different stories: DPRO led by 45.2 percentage points, -5.2% for DPRO against -50.4% for JOBY. Note the risk asymmetry: DPRO runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DPRO vs JOBY: side by side
| DPRO (Draganfly Inc.) | JOBY (Joby Aviation, Inc.) | |
|---|---|---|
| 1-year return | -5.2% | -50.4% |
| 5-year return | -93.9% | -43.1% |
| Volatility (ann.) | 118.7% | 70.2% |
| Beta vs S&P 500 | 2.21 | 2.37 |
| Max drawdown (3Y) | -92.7% | -67.4% |
| Market cap | $0.2B | $7.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DPRO | JOBY |
|---|---|---|
| 2022 | -54.0% | -54.1% |
| 2023 | -36.0% | +98.5% |
| 2024 | -66.6% | +22.3% |
| 2025 | +72.3% | +62.4% |
| 2026 | -36.8% | -45.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DPRO and JOBY good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DPRO and JOBY?
As of 2026-08-27, the correlation of weekly returns between DPRO and JOBY is 0.48 over 3 years, 0.61 over 1 year and 0.39 over 5 years.
Is JOBY a good diversifier for DPRO?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
A reading of 0.48 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dpro-vs-joby.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dpro-vs-joby/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DPRO correlations · JOBY correlations
