JOBY vs OPEN: Correlation
Measured on weekly returns over the past three years, Joby Aviation, Inc. (JOBY) and Opendoor Technologies Inc (OPEN) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JOBY and OPEN?
Across a 3-year window, the weekly returns of JOBY and OPEN correlate at 0.51, moderate. The past 12 months show a weaker link (0.28) than the 3-year average (0.51). Stretching to 5 years gives 0.52, with an annualized covariance of 5196.7 %².
Within JOBY's tracked universe of 26 assets, OPEN comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with OPEN ahead by 34.5 points (-50.4% versus -15.9%). Note the risk asymmetry: OPEN runs 2.1 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.
JOBY vs OPEN: side by side
| JOBY (Joby Aviation, Inc.) | OPEN (Opendoor Technologies Inc) | |
|---|---|---|
| 1-year return | -50.4% | -15.9% |
| 5-year return | -43.1% | -80.8% |
| Volatility (ann.) | 70.2% | 145.6% |
| Beta vs S&P 500 | 2.37 | 2.46 |
| Max drawdown (3Y) | -67.4% | -89.2% |
| Market cap | $7.1B | $3.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JOBY | OPEN |
|---|---|---|
| 2022 | -54.1% | -92.1% |
| 2023 | +98.5% | +286.2% |
| 2024 | +22.3% | -64.3% |
| 2025 | +62.4% | +264.4% |
| 2026 | -45.8% | -42.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JOBY and OPEN good diversifiers for each other?
Only partially. A correlation of 0.51 means JOBY and OPEN 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 JOBY and OPEN?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.28 over the last year and 0.52 over 5 years.
Is OPEN a good diversifier for JOBY?
Only partially. A correlation of 0.51 means JOBY and OPEN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
A reading of 0.51 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/joby-vs-open.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/joby-vs-open/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: JOBY correlations · OPEN correlations
