AUR vs IWM: Correlation
Aurora Innovation, Inc. (AUR) and iShares Russell 2000 ETF (IWM) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AUR and IWM?
On 3 years of weekly data the AUR/IWM correlation comes out at 0.53, moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. The 5-year figure is 0.48, and annualized covariance runs at 857.7 %².
IWM is one of the assets that tracks AUR most closely: it ranks #2 out of the 13 assets we track against AUR. Correlation aside, the last 12 months split them widely, with IWM ahead by 28.9 points (-0.5% versus +28.4%). Note the risk asymmetry: AUR runs 4.1 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.
AUR vs IWM: side by side
| AUR (Aurora Innovation, Inc.) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | -0.5% | +28.4% |
| 5-year return | -42.3% | +41.5% |
| Volatility (ann.) | 81.8% | 19.8% |
| Beta vs S&P 500 | 2.61 | 1.06 |
| Max drawdown (3Y) | -63.0% | -27.5% |
| Market cap | $11.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.91% |
| Expense ratio | – | 0.19% |
| Assets under management | – | $80.1B |
| Sector / category | US Listed | ETF · US Small & Mid Cap |
IWM, iShares's Small Blend fund, carries $80.1B under management, 1757 holdings, a 0.19% expense ratio, a 0.91% trailing dividend yield.
Year-by-year returns
| Year | AUR | IWM |
|---|---|---|
| 2022 | -89.3% | -20.5% |
| 2023 | +261.2% | +16.8% |
| 2024 | +44.2% | +11.4% |
| 2025 | -39.0% | +12.7% |
| 2026 | +48.2% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AUR and IWM good diversifiers for each other?
To a limited degree. At 0.53 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 AUR and IWM?
As of 2026-08-27, the correlation of weekly returns between AUR and IWM is 0.53 over 3 years, 0.55 over 1 year and 0.48 over 5 years.
Is IWM a good diversifier for AUR?
To a limited degree. At 0.53 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 0.53 mean?
On the −1 to +1 scale, 0.53 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aur-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aur-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AUR correlations · IWM correlations
