JOBY vs RDW: Correlation
Measured on weekly returns over the past three years, Joby Aviation, Inc. (JOBY) and Redwire Corporation (RDW) 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 RDW?
On 3 years of weekly data the JOBY/RDW correlation comes out at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. The 5-year figure is 0.43, and annualized covariance runs at 3649.5 %².
Within JOBY's tracked universe of 26 assets, RDW comes in at #11 by 3-year correlation. The last year tells two different stories: RDW led by 75.8 percentage points, -50.4% for JOBY against +25.4% for RDW.
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 RDW: side by side
| JOBY (Joby Aviation, Inc.) | RDW (Redwire Corporation) | |
|---|---|---|
| 1-year return | -50.4% | +25.4% |
| 5-year return | -43.1% | +12.9% |
| Volatility (ann.) | 70.2% | 101.5% |
| Beta vs S&P 500 | 2.37 | 3.01 |
| Max drawdown (3Y) | -67.4% | -80.3% |
| Market cap | $7.1B | $2.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JOBY | RDW |
|---|---|---|
| 2022 | -54.1% | -70.7% |
| 2023 | +98.5% | +43.9% |
| 2024 | +22.3% | +477.5% |
| 2025 | +62.4% | -53.8% |
| 2026 | -45.8% | +48.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JOBY and RDW good diversifiers for each other?
Only partially. A correlation of 0.51 means JOBY and RDW 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 RDW?
As of 2026-08-27, the correlation of weekly returns between JOBY and RDW is 0.51 over 3 years, 0.61 over 1 year and 0.43 over 5 years.
Is RDW a good diversifier for JOBY?
Only partially. A correlation of 0.51 means JOBY and RDW 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?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/joby-vs-rdw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/joby-vs-rdw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: JOBY correlations · RDW correlations
