Aurora Innovation Correlations

AUR Stock

USD 5.73 0.14 2.50%

The current 90-days correlation between Aurora Innovation and Joby Aviation is 0.56 (i.e., Very weak diversification). The correlation of Aurora Innovation 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Aurora Innovation Correlation With Market

Weak diversification

The correlation between Aurora Innovation and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aurora Innovation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Aurora Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Aurora Innovation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

To learn how to invest in Aurora Stock, please use our How to Invest in Aurora Innovation guide.

Moving together with Aurora Stock

0.79

DTST

Data Storage Corp

Pair Corr

Moving against Aurora Stock

0.61	FI	Fiserv,	Pair Corr
0.58	IBM	International Business	Pair Corr
0.56	DXC	DXC Technology	Pair Corr
0.54	KD	Kyndryl Holdings	Pair Corr
0.54	WIT	Wipro Limited ADR	Pair Corr
0.53	EPAM	EPAM Systems	Pair Corr
0.52	GDYN	Grid Dynamics Holdings	Pair Corr
0.51	IT	Gartner	Pair Corr
0.51	GIB	CGI Inc	Pair Corr
0.5	ACN	Accenture plc	Pair Corr
0.37	VRRM	Verra Mobility Corp	Pair Corr
0.35	UIS	Unisys	Pair Corr
0.34	VEEA	Veea Inc Symbol Change	Pair Corr
0.32	FIS	Fidelity National	Pair Corr
0.6	BLIV	BeLive Holdings Ordinary Downward Rally	Pair Corr
0.56	ARBB	ARB IOT Group Tech Boost	Pair Corr
0.55	HCKT	Hackett Group	Pair Corr
0.55	INFY	Infosys Ltd ADR	Pair Corr
0.48	LZMH	LZ Technology Holdings	Pair Corr
0.43	JKHY	Jack Henry Associates	Pair Corr

Related Correlations Analysis

	BBAI	NOTE	AUROW	INOD	GDYN	TSPH	AEVA	JOBY	ARQQ
BBAI		0.6	0.01	0.41	-0.13	-0.43	0.24	0.63	0.7	BBAI
NOTE	0.6		0.57	0.65	0.48	-0.76	0.47	0.15	0.46	NOTE
AUROW	0.01	0.57		0.39	0.54	-0.61	0.32	-0.1	0.07	AUROW
INOD	0.41	0.65	0.39		0.66	-0.68	0.75	-0.17	0.56	INOD
GDYN	-0.13	0.48	0.54	0.66		-0.54	0.84	-0.72	0.14	GDYN
TSPH	-0.43	-0.76	-0.61	-0.68	-0.54		-0.58	0.0	-0.51	TSPH
AEVA	0.24	0.47	0.32	0.75	0.84	-0.58		-0.48	0.53	AEVA
JOBY	0.63	0.15	-0.1	-0.17	-0.72	0.0	-0.48		0.34	JOBY
ARQQ	0.7	0.46	0.07	0.56	0.14	-0.51	0.53	0.34		ARQQ
	BBAI	NOTE	AUROW	INOD	GDYN	TSPH	AEVA	JOBY	ARQQ

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

AEVA	+ 0.84	GDYN
AEVA	+ 0.75	INOD
ARQQ	+ 0.7	BBAI
GDYN	+ 0.66	INOD
INOD	+ 0.65	NOTE
JOBY	+ 0.63	BBAI

High negative correlations

TSPH	- 0.76	NOTE
JOBY	- 0.72	GDYN
TSPH	- 0.68	INOD
TSPH	- 0.61	AUROW
AEVA	- 0.58	TSPH
TSPH	- 0.54	GDYN

Risk-Adjusted Indicators

There is a big difference between Aurora Stock performing well and Aurora Innovation 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 Aurora Innovation'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
BBAI	4.86	0.31	0.11	0.18	4.61	(5.96)	15.45	(8.03)	40.92
NOTE	5.12	(0.94)	0.00	(0.30)	0.00	0.00	11.44	(10.72)	41.17
AUROW	5.07	(0.76)	0.00	(0.24)	0.00	0.00	9.38	(10.77)	28.83
INOD	3.86	(0.17)	0.00	0.04	5.00	(4.37)	12.05	(7.61)	31.83
GDYN	2.09	(0.83)	0.00	(0.29)	0.00	0.00	3.60	(4.73)	23.23
TSPH	3.67	0.51	0.08	0.89	3.59	(6.33)	9.76	(8.57)	26.92
AEVA	5.91	(0.61)	0.00	(0.07)	0.00	0.00	9.71	(10.94)	39.21
JOBY	4.41	0.65	0.21	0.31	3.63	(5.75)	11.76	(7.01)	27.70
ARQQ	5.23	0.20	0.07	0.16	4.90	(6.41)	14.22	(7.78)	31.79

Aurora Innovation Corporate Management

Gerardo Interiano	Vice Affairs	Profile
Richard Tame	Chief Officer	Profile
Nolan Shenai	Secretary Counsel	Profile
Stacy CFA	Vice Relations	Profile
Christopher Urmson	President, CoFounder	Profile

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