GFAI vs JOBY: Correlation
How closely do Guardforce AI Co., Limited (GFAI) and Joby Aviation, Inc. (JOBY) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GFAI and JOBY?
On 3 years of weekly data the GFAI/JOBY correlation comes out at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. The 5-year figure is 0.23, and annualized covariance runs at 2884.7 %².
JOBY is one of the assets that tracks GFAI most closely: it ranks #2 out of the 10 assets we track against GFAI. The last year tells two different stories: JOBY led by 18.3 percentage points, -68.7% for GFAI against -50.4% for JOBY.
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.
GFAI vs JOBY: side by side
| GFAI (Guardforce AI Co., Limited) | JOBY (Joby Aviation, Inc.) | |
|---|---|---|
| 1-year return | -68.7% | -50.4% |
| 5-year return | -99.8% | -43.1% |
| Volatility (ann.) | 84.4% | 70.2% |
| Beta vs S&P 500 | 2.19 | 2.37 |
| Max drawdown (3Y) | -93.9% | -67.4% |
| Market cap | – | $7.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GFAI | JOBY |
|---|---|---|
| 2022 | -88.2% | -54.1% |
| 2023 | -34.6% | +98.5% |
| 2024 | -56.9% | +22.3% |
| 2025 | -61.0% | +62.4% |
| 2026 | -33.2% | -45.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GFAI and JOBY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GFAI and JOBY?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.41 over the last year and 0.23 over 5 years.
Is JOBY a good diversifier for GFAI?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 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/gfai-vs-joby.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gfai-vs-joby/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GFAI correlations · JOBY correlations
