Joby Aviation Correlations
| JOBY Stock | USD 4.89 0.06 1.21% |
The correlation of Joby Aviation is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Joby Aviation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Joby Aviation moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Weak diversification
The correlation between Joby Aviation and NYA is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Joby Aviation and NYA in the same portfolio, assuming nothing else is changed.
Joby |
The ability to find closely correlated positions to Joby Aviation could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Joby Aviation when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Joby Aviation - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Joby Aviation to buy it.
Moving together with Joby Stock
| 0.7 | ASLE | AerSale Corp | PairCorr |
| 0.66 | AZ | A2Z Smart Technologies | PairCorr |
| 0.71 | BA | Boeing Financial Report 24th of July 2024 | PairCorr |
Moving against Joby Stock
| 0.59 | AL | Air Lease | PairCorr |
| 0.52 | BLDEW | Blade Air Mobility | PairCorr |
| 0.51 | CAAP | Corporacion America Earnings Call Today | PairCorr |
| 0.62 | DE | Deere Company Fiscal Year End 27th of November 2024 | PairCorr |
| 0.6 | GD | General Dynamics Financial Report 24th of July 2024 | PairCorr |
Related Correlations Analysis
| -0.28 | -0.52 | 0.55 | 0.09 | ACHR | ||
| -0.28 | 0.07 | 0.3 | -0.2 | LILM | ||
| -0.52 | 0.07 | -0.05 | -0.31 | BLDE | ||
| 0.55 | 0.3 | -0.05 | -0.35 | RKLB | ||
| 0.09 | -0.2 | -0.31 | -0.35 | EVTL | ||
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Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Joby Stock performing well and Joby Aviation Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Joby Aviation's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ACHR | 2.45 | (0.71) | 0.00 | (0.31) | 0.00 | 6.67 | 12.34 | |||
| LILM | 2.98 | 0.37 | 0.08 | 2.30 | 3.25 | 7.45 | 16.41 | |||
| BLDE | 3.98 | 0.23 | 0.01 | (0.15) | 6.72 | 9.20 | 37.89 | |||
| RKLB | 2.05 | (0.17) | 0.00 | (0.29) | 0.00 | 3.53 | 14.44 | |||
| EVTL | 4.36 | 0.08 | 0.03 | 0.11 | 4.65 | 9.52 | 44.55 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Joby Aviation without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Joby Aviation Corporate Management
Elected by the shareholders, the Joby Aviation's board of directors comprises two types of representatives: Joby Aviation inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Joby. The board's role is to monitor Joby Aviation's management team and ensure that shareholders' interests are well served. Joby Aviation's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Joby Aviation's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Matthew Field | CFO Treasurer | Profile | |
| Justin Lang | Head of Partnerships & Corporate Strategy | Profile | |
| Greg Bowles | Head of Government and Regulatory Affairs | Profile | |
| Gregory Bowles | Head Affairs | Profile |
Already Invested in Joby Aviation?
The danger of trading Joby Aviation is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Joby Aviation is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Joby Aviation. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Joby Aviation is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Joby Aviation offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Joby Aviation's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Joby Aviation Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Joby Aviation Stock: Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Joby Aviation. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of labor statistics. For more information on how to buy Joby Stock please use our How to Invest in Joby Aviation guide.Note that the Joby Aviation information on this page should be used as a complementary analysis to other Joby Aviation's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Complementary Tools for Joby Stock analysis
When running Joby Aviation's price analysis, check to measure Joby Aviation's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Joby Aviation is operating at the current time. Most of Joby Aviation's value examination focuses on studying past and present price action to predict the probability of Joby Aviation's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Joby Aviation's price. Additionally, you may evaluate how the addition of Joby Aviation to your portfolios can decrease your overall portfolio volatility.
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Is Joby Aviation's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Joby Aviation. If investors know Joby will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Joby Aviation listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.74) | Revenue Per Share 0.002 | Return On Assets (0.27) | Return On Equity (0.48) |
The market value of Joby Aviation is measured differently than its book value, which is the value of Joby that is recorded on the company's balance sheet. Investors also form their own opinion of Joby Aviation's value that differs from its market value or its book value, called intrinsic value, which is Joby Aviation's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Joby Aviation's market value can be influenced by many factors that don't directly affect Joby Aviation's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Joby Aviation's value and its price as these two are different measures arrived at by different means. Investors typically determine if Joby Aviation is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Joby Aviation's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.