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sp_UpdateStats stored procedure, UPDATE STATISTICS SQL Statement, and Auto Update Statistics

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I have been doing some research on sp_UpdateStats stored procedure, UPDATE STATISTICS SQL Statement, and Auto Update Statistics. Sounds like 'sp_UpdateStats' stored procedure updates the database statistics for all tables and indexes in the database). Sounds like the 'UPDATE STATISTICS' SQL Statement updates the statistics at the table or index level. And the 'Auto Update Statistics set to ON' database configuration updates all tables and indexes within the database. With the 'Auto Update Statistics set to ON', I read that 'the query optimizer will continue to routinely update statistics.' But, how often does this configuration updates the statistics? Is it best to just update statistics on the tables manually (when needed) or do it weekly with a maintance job using the 'UPDATE STATISTICS' SQL Statement?Thanks. I am still researching.

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