JOBY vs STEM: Correlation
Joby Aviation, Inc. (JOBY) and Stem, Inc. (STEM) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JOBY and STEM?
On 3 years of weekly data the JOBY/STEM correlation comes out at 0.52, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.52 over 3. The 5-year figure is 0.49, and annualized covariance runs at 4755.4 %².
Within JOBY's tracked universe of 26 assets, STEM comes in at #8 by 3-year correlation. Over the last 12 months JOBY came out ahead by 14.5 percentage points (-50.4% against -64.9%). Note the risk asymmetry: STEM runs 1.9 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 STEM: side by side
| JOBY (Joby Aviation, Inc.) | STEM (Stem, Inc.) | |
|---|---|---|
| 1-year return | -50.4% | -64.9% |
| 5-year return | -43.1% | -98.9% |
| Volatility (ann.) | 70.2% | 129.9% |
| Beta vs S&P 500 | 2.37 | 2.49 |
| Max drawdown (3Y) | -67.4% | -95.5% |
| Market cap | $7.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JOBY | STEM |
|---|---|---|
| 2022 | -54.1% | -52.9% |
| 2023 | +98.5% | -56.6% |
| 2024 | +22.3% | -84.5% |
| 2025 | +62.4% | +24.8% |
| 2026 | -45.8% | -62.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JOBY and STEM good diversifiers for each other?
To a limited degree. At 0.52 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 STEM?
The JOBY/STEM correlation stands at 0.52 on a 3-year window (1 year: 0.52, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is STEM a good diversifier for JOBY?
To a limited degree. At 0.52 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 0.52 mean?
A reading of 0.52 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-stem.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/joby-vs-stem/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JOBY correlations · STEM correlations
