Aurora Innovation Correlations

AUR Stock

USD 4.79 0.12 2.57%

The current 90-days correlation between Aurora Innovation and Applied Digital is 0.4 (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

Very weak diversification

The correlation between Aurora Innovation and DJI is 0.54 (i.e., Very 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 private.

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

Moving together with Aurora Stock

0.69	002410	Glodon Software	Pair Corr
0.73	688590	Shanghai Newtouch	Pair Corr
0.86	BSY	Bentley Systems	Pair Corr
0.9	PTC	PTC Inc	Pair Corr
0.88	SAP	SAP SE ADR	Pair Corr
0.84	TTD	Trade Desk Sell-off Trend	Pair Corr
0.77	TYL	Tyler Technologies	Pair Corr
0.69	GWRE	Guidewire Software	Pair Corr
0.7	APTD	Aptitude Software	Pair Corr
0.77	300378	Digiwin Software	Pair Corr
0.74	002232	Qiming Information	Pair Corr
0.78	002657	Sinodata	Pair Corr
0.64	ALFA	Alfa Financial Software	Pair Corr
0.72	600536	China National Software	Pair Corr
0.77	688588	Linkage Software	Pair Corr
0.66	300496	Thunder Software Tec	Pair Corr
0.74	GRRRW	Gorilla Technology	Pair Corr

Moving against Aurora Stock

0.71	DBD	Diebold Nixdorf	Pair Corr
0.42	300659	Zhongfu Information	Pair Corr
0.46	688109	Hangzhou Pinming Software	Pair Corr
0.44	688229	Bonree Data Technology	Pair Corr
0.39	300520	GuoChuang Software	Pair Corr
0.39	603636	Linewell Software	Pair Corr
0.65	SFT	Software Circle plc	Pair Corr
0.56	688227	Bingo Software	Pair Corr
0.38	SSNC	SSC Technologies Holdings	Pair Corr
0.31	300578	BizConf Telecom	Pair Corr

Related Correlations Analysis

	APLD	EPAM	JKHY	TTAN	OTEX	MKSI	DOX	ESTC	IDCC	CACI
APLD		-0.46	-0.45	0.11	0.66	-0.12	0.59	0.31	0.51	-0.34	APLD
EPAM	-0.46		0.97	0.55	-0.88	0.89	-0.4	-0.57	-0.64	0.4	EPAM
JKHY	-0.45	0.97		0.58	-0.84	0.85	-0.43	-0.66	-0.66	0.31	JKHY
TTAN	0.11	0.55	0.58		-0.17	0.53	0.21	-0.31	-0.34	-0.3	TTAN
OTEX	0.66	-0.88	-0.84	-0.17		-0.74	0.6	0.53	0.68	-0.53	OTEX
MKSI	-0.12	0.89	0.85	0.53	-0.74		-0.16	-0.49	-0.52	0.33	MKSI
DOX	0.59	-0.4	-0.43	0.21	0.6	-0.16		0.57	0.34	-0.54	DOX
ESTC	0.31	-0.57	-0.66	-0.31	0.53	-0.49	0.57		0.51	-0.15	ESTC
IDCC	0.51	-0.64	-0.66	-0.34	0.68	-0.52	0.34	0.51		0.05	IDCC
CACI	-0.34	0.4	0.31	-0.3	-0.53	0.33	-0.54	-0.15	0.05		CACI
	APLD	EPAM	JKHY	TTAN	OTEX	MKSI	DOX	ESTC	IDCC	CACI

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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

JKHY	+ 0.97	EPAM
MKSI	+ 0.89	EPAM
MKSI	+ 0.85	JKHY
IDCC	+ 0.68	OTEX
OTEX	+ 0.66	APLD
DOX	+ 0.6	OTEX

High negative correlations

OTEX	- 0.88	EPAM
OTEX	- 0.84	JKHY
MKSI	- 0.74	OTEX
IDCC	- 0.66	JKHY
ESTC	- 0.66	JKHY
IDCC	- 0.64	EPAM

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
APLD	5.21	0.60	0.10	0.51	5.99	(5.58)	14.64	(9.36)	33.56
EPAM	1.54	0.44	0.23	0.48	1.50	(1.73)	4.35	(2.73)	9.92
JKHY	0.93	0.31	0.25	0.69	0.62	(1.08)	2.26	(1.40)	7.13
TTAN	1.80	0.12	0.04	0.29	2.11	(1.92)	3.83	(3.44)	15.08
OTEX	1.01	(0.29)	0.00	(0.25)	0.00	0.00	1.61	(2.58)	7.58
MKSI	2.48	0.42	0.16	0.28	2.94	(2.81)	5.36	(5.69)	17.56
DOX	0.88	0.00	(0.03)	0.08	1.73	(0.86)	1.55	(1.47)	10.60
ESTC	2.04	(0.02)	(0.02)	0.01	3.66	(1.83)	3.82	(3.76)	20.71
IDCC	2.10	(0.19)	0.00	(0.13)	0.00	0.00	3.53	(4.57)	17.55
CACI	1.30	0.09	0.06	0.19	1.13	(1.59)	3.65	(2.22)	14.78

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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