JOBY vs OUST: Correlation
Measured on weekly returns over the past three years, Joby Aviation, Inc. (JOBY) and Ouster, Inc. (OUST) 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 OUST?
Over the past 3 years, JOBY and OUST moved with a correlation of 0.51, which is moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 3669.9 %².
Among the 26 assets we track against JOBY, OUST ranks #10 by 3-year correlation. The last year tells two different stories: OUST led by 71.1 percentage points, -50.4% for JOBY against +20.7% for OUST.
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 OUST: side by side
| JOBY (Joby Aviation, Inc.) | OUST (Ouster, Inc.) | |
|---|---|---|
| 1-year return | -50.4% | +20.7% |
| 5-year return | -43.1% | -56.2% |
| Volatility (ann.) | 70.2% | 102.7% |
| Beta vs S&P 500 | 2.37 | 2.63 |
| Max drawdown (3Y) | -67.4% | -64.0% |
| Market cap | $7.1B | $2.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JOBY | OUST |
|---|---|---|
| 2022 | -54.1% | -83.4% |
| 2023 | +98.5% | -11.1% |
| 2024 | +22.3% | +59.3% |
| 2025 | +62.4% | +77.1% |
| 2026 | -45.8% | +68.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JOBY and OUST good diversifiers for each other?
Only partially. A correlation of 0.51 means JOBY and OUST 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 OUST?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.53 over the last year and 0.43 over 5 years.
Is OUST a good diversifier for JOBY?
Only partially. A correlation of 0.51 means JOBY and OUST 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-oust.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/joby-vs-oust/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JOBY correlations · OUST correlations
