AUR vs NEON: Correlation
How closely do Aurora Innovation, Inc. (AUR) and Neonode Inc. (NEON) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AUR and NEON?
On 3 years of weekly data the AUR/NEON correlation comes out at 0.34, moderate. Recent behaviour matches the longer record: 0.26 over 1 year against 0.34 over 3. The 5-year figure is 0.26, and annualized covariance runs at 3295.1 %².
Among the 13 assets we track against AUR, NEON sits near the bottom by co-movement, at rank #9. The last year tells two different stories: AUR led by 95.7 percentage points, -0.5% for AUR against -96.2% for NEON.
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 NEON: side by side
| AUR (Aurora Innovation, Inc.) | NEON (Neonode Inc.) | |
|---|---|---|
| 1-year return | -0.5% | -96.2% |
| 5-year return | -42.3% | -82.6% |
| Volatility (ann.) | 81.8% | 119.0% |
| Beta vs S&P 500 | 2.61 | 1.95 |
| Max drawdown (3Y) | -63.0% | -97.4% |
| Market cap | $11.4B | – |
| P/E (trailing) | – | 1.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AUR | NEON |
|---|---|---|
| 2022 | -89.3% | -37.9% |
| 2023 | +261.2% | -58.4% |
| 2024 | +44.2% | +259.4% |
| 2025 | -39.0% | -78.9% |
| 2026 | +48.2% | -49.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AUR and NEON good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AUR and NEON?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.26 over the last year and 0.26 over 5 years.
Is NEON a good diversifier for AUR?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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.
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Related comparisons
Hubs: AUR correlations · NEON correlations
