JOBY vs LCID: Correlation
Measured on weekly returns over the past three years, Joby Aviation, Inc. (JOBY) and Lucid Group, Inc. (LCID) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JOBY and LCID?
On 3 years of weekly data the JOBY/LCID correlation comes out at 0.44, moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.44). The 5-year figure is 0.41, and annualized covariance runs at 2434.4 %².
Among the 26 assets we track against JOBY, LCID ranks #19 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months JOBY outperformed by 25.1 percentage points (-50.4% for JOBY against -75.5% for LCID).
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.
JOBY vs LCID: side by side
| JOBY (Joby Aviation, Inc.) | LCID (Lucid Group, Inc.) | |
|---|---|---|
| 1-year return | -50.4% | -75.5% |
| 5-year return | -43.1% | -97.5% |
| Volatility (ann.) | 70.2% | 78.4% |
| Beta vs S&P 500 | 2.37 | 1.25 |
| Max drawdown (3Y) | -67.4% | -92.7% |
| Market cap | $7.1B | $2.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JOBY | LCID |
|---|---|---|
| 2022 | -54.1% | -82.0% |
| 2023 | +98.5% | -38.4% |
| 2024 | +22.3% | -28.3% |
| 2025 | +62.4% | -65.0% |
| 2026 | -45.8% | -51.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JOBY and LCID good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between JOBY and LCID?
The JOBY/LCID correlation stands at 0.44 on a 3-year window (1 year: 0.26, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is LCID a good diversifier for JOBY?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 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.
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Related comparisons
Hubs: JOBY correlations · LCID correlations
