EH vs. JOBY

Last updated Jun 4, 2026

EH (Ehang Holdings Ltd) and JOBY (Joby Aviation, Inc.) are both stocks. Both are in the Industrials sector — EH in Aerospace & Defense, JOBY in Airports & Air Services. Over the past 3 years, EH returned -3.49%/yr vs 26.18%/yr for JOBY. At a 0.46 correlation, their price movements are largely independent.

Performance

EH vs. JOBY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ehang Holdings Ltd (EH) and Joby Aviation, Inc. (JOBY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EH achieves a -25.80% return, which is significantly lower than JOBY's -13.41% return.

EH

• 1D: -4.31%
• 1M: -3.65%
• YTD: -25.80%
• 6M: -28.67%
• 1Y: -39.29%
• 3Y*: -3.49%
• 5Y*: -21.40%
• 10Y*: —

JOBY

• 1D: -3.71%
• 1M: 29.01%
• YTD: -13.41%
• 6M: -21.87%
• 1Y: 42.34%
• 3Y*: 26.18%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EH vs. JOBY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EH Ehang Holdings Ltd	-25.80%	-16.29%	-6.28%	95.80%	-42.49%	-41.86%
JOBY Joby Aviation, Inc.	-13.41%	62.36%	22.26%	98.51%	-54.11%	-45.52%

Correlation

The correlation between EH and JOBY is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (All Time) Calculated using the full available price history since Aug 12, 2021	0.46

The correlation between EH and JOBY has been stable across timeframes, ranging from 0.45 to 0.53 - a consistent structural relationship.

Fundamentals

Market Cap EH : $370.66M JOBY : $10.78B
EPS EH : -$6.20 JOBY : -$1.10
PS Ratio EH : 0.72 JOBY : 128.01
PB Ratio EH : 0.33 JOBY : 5.51
Total Revenue (TTM) EH : $504.81M JOBY : $77.67M
Gross Profit (TTM) EH : $313.01M JOBY : $8.72M
EBITDA (TTM) EH : -$240.93M JOBY : -$1.05B

Return for Risk

EH vs. JOBY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EH

EH Risk / Return Rank: 11
EH Sharpe Ratio Rank: 8
EH Sortino Ratio Rank: 10
EH Omega Ratio Rank: 12
EH Calmar Ratio Rank: 14
EH Martin Ratio Rank: 12

JOBY

JOBY Risk / Return Rank: 57
JOBY Sharpe Ratio Rank: 59
JOBY Sortino Ratio Rank: 62
JOBY Omega Ratio Rank: 57
JOBY Calmar Ratio Rank: 55
JOBY Martin Ratio Rank: 53

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EH vs. JOBY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ehang Holdings Ltd (EH) and Joby Aviation, Inc. (JOBY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	EH	JOBY	Difference
Sharpe ratio: Return per unit of total volatility	-0.82	0.54	-1.36
Sortino ratio: Return per unit of downside risk	-1.11	1.38	-2.49
Omega ratio: Gain probability vs. loss probability	0.88	1.15	-0.27
Calmar ratio: Return relative to maximum drawdown	-0.73	0.70	-1.42
Martin ratio: Return relative to average drawdown	-1.27	1.19	-2.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EH vs. JOBY - Sharpe Ratio Comparison

The current EH Sharpe Ratio is -0.82, which is lower than the JOBY Sharpe Ratio of 0.54. The chart below compares the historical Sharpe Ratios of EH and JOBY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EH	JOBY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.82	0.54	-1.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	-0.04	0.00

Drawdowns

EH vs. JOBY - Drawdown Comparison

The maximum EH drawdown since its inception was -97.07%, which is greater than JOBY's maximum drawdown of -76.27%. Use the drawdown chart below to compare losses from any high point for EH and JOBY.

Drawdown Indicators

	EH	JOBY	Difference
Max Drawdown Largest peak-to-trough decline	-97.07%	-76.27%	-20.80%
Max Drawdown (1Y) Largest decline over 1 year	-54.33%	-61.06%	+6.73%
Max Drawdown (3Y) Largest decline over 3 years	-65.48%	-61.06%	-4.42%
Max Drawdown (5Y) Largest decline over 5 years	-91.81%	—	—
Current Drawdown Current decline from peak	-92.12%	-43.94%	-48.18%
Average Drawdown Average peak-to-trough decline	-74.62%	-50.39%	-24.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.06%	35.79%	-4.73%

Volatility

EH vs. JOBY - Volatility Comparison

The current volatility for Ehang Holdings Ltd (EH) is 14.18%, while Joby Aviation, Inc. (JOBY) has a volatility of 25.96%. This indicates that EH experiences smaller price fluctuations and is considered to be less risky than JOBY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EH	JOBY	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.18%	25.96%	-11.78%
Volatility (6M) Calculated over the trailing 6-month period	36.84%	49.29%	-12.45%
Volatility (1Y) Calculated over the trailing 1-year period	48.22%	78.59%	-30.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	84.56%	79.72%	+4.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	100.03%	79.72%	+20.31%

Dividends

EH vs. JOBY - Dividend Comparison

Neither EH nor JOBY has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both EH and JOBY in my portfolio?

EH and JOBY have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EH or JOBY?

JOBY has higher volatility (25.96%) compared to EH (14.18%). In terms of maximum drawdown, EH dropped -97.07% vs JOBY's -76.27%.

Which has better risk-adjusted returns?

JOBY currently has the higher Sharpe Ratio (0.54 vs -0.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.