JOBY vs RKLB: Correlation
Measured on weekly returns over the past three years, Joby Aviation, Inc. (JOBY) and Rocket Lab Corporation (RKLB) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JOBY and RKLB?
Across a 3-year window, the weekly returns of JOBY and RKLB correlate at 0.59, moderate. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Stretching to 5 years gives 0.50, with an annualized covariance of 3568.6 %².
Among the 26 assets we track against JOBY, RKLB ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RKLB ahead by 96.4 points (-50.4% versus +46.0%).
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 RKLB: side by side
| JOBY (Joby Aviation, Inc.) | RKLB (Rocket Lab Corporation) | |
|---|---|---|
| 1-year return | -50.4% | +46.0% |
| 5-year return | -43.1% | +573.3% |
| Volatility (ann.) | 70.2% | 85.6% |
| Beta vs S&P 500 | 2.37 | 2.58 |
| Max drawdown (3Y) | -67.4% | -61.0% |
| Market cap | $7.1B | $43.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JOBY | RKLB |
|---|---|---|
| 2022 | -54.1% | -69.3% |
| 2023 | +98.5% | +46.7% |
| 2024 | +22.3% | +360.6% |
| 2025 | +62.4% | +173.9% |
| 2026 | -45.8% | -3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JOBY and RKLB good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between JOBY and RKLB?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.60 over the last year and 0.50 over 5 years.
Is RKLB a good diversifier for JOBY?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 mean?
A reading of 0.59 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
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Related comparisons
Hubs: JOBY correlations · RKLB correlations
