JOBY vs MP: Correlation
Joby Aviation, Inc. (JOBY) and MP Materials Corp. (MP) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JOBY and MP?
On 3 years of weekly data the JOBY/MP correlation comes out at 0.44, moderate. The link has tightened recently: the 1-year correlation (0.55) runs above the 3-year figure (0.44). The 5-year figure is 0.42, and annualized covariance runs at 2135.7 %².
By 3-year correlation, MP places #20 of the 26 assets tracked against JOBY. The last year tells two different stories: MP led by 33.1 percentage points, -50.4% for JOBY against -17.3% for MP.
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 MP: side by side
| JOBY (Joby Aviation, Inc.) | MP (MP Materials Corp.) | |
|---|---|---|
| 1-year return | -50.4% | -17.3% |
| 5-year return | -43.1% | +76.6% |
| Volatility (ann.) | 70.2% | 69.3% |
| Beta vs S&P 500 | 2.37 | 0.90 |
| Max drawdown (3Y) | -67.4% | -61.4% |
| Market cap | $7.1B | $10.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JOBY | MP |
|---|---|---|
| 2022 | -54.1% | -46.5% |
| 2023 | +98.5% | -18.2% |
| 2024 | +22.3% | -21.4% |
| 2025 | +62.4% | +223.8% |
| 2026 | -45.8% | +16.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JOBY and MP good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between JOBY and MP?
As of 2026-08-27, the correlation of weekly returns between JOBY and MP is 0.44 over 3 years, 0.55 over 1 year and 0.42 over 5 years.
Is MP a good diversifier for JOBY?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/joby-vs-mp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/joby-vs-mp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JOBY correlations · MP correlations
