EVTL vs JOBY: Correlation
Measured on weekly returns over the past three years, Vertical Aerospace Ltd. (EVTL) and Joby Aviation, Inc. (JOBY) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVTL and JOBY?
On 3 years of weekly data the EVTL/JOBY correlation comes out at 0.52, moderate. The past 12 months show a tighter link (0.65) than the 3-year average (0.52). The 5-year figure is 0.34, and annualized covariance runs at 4949.6 %².
In EVTL's tracked universe of 13 assets, JOBY sits right near the top at #2. Correlation aside, the last 12 months split them widely, with JOBY ahead by 34.7 points (-85.1% versus -50.4%). Risk is not evenly split, since EVTL carries 1.9 times the volatility of the other side.
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.
EVTL vs JOBY: side by side
| EVTL (Vertical Aerospace Ltd.) | JOBY (Joby Aviation, Inc.) | |
|---|---|---|
| 1-year return | -85.1% | -50.4% |
| 5-year return | -99.2% | -43.1% |
| Volatility (ann.) | 135.6% | 70.2% |
| Beta vs S&P 500 | 3.07 | 2.37 |
| Max drawdown (3Y) | -95.9% | -67.4% |
| Market cap | $0.1B | $7.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVTL | JOBY |
|---|---|---|
| 2022 | -49.6% | -54.1% |
| 2023 | -79.7% | +98.5% |
| 2024 | +82.8% | +22.3% |
| 2025 | -57.6% | +62.4% |
| 2026 | -86.1% | -45.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVTL and JOBY good diversifiers for each other?
Only partially. A correlation of 0.52 means EVTL and JOBY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EVTL and JOBY?
The EVTL/JOBY correlation stands at 0.52 on a 3-year window (1 year: 0.65, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is JOBY a good diversifier for EVTL?
Only partially. A correlation of 0.52 means EVTL and JOBY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/evtl-vs-joby.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evtl-vs-joby/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVTL correlations · JOBY correlations
