Innovator Premium Correlations

APRJ Etf

24.68 0.04 0.16%

The current 90-days correlation between Innovator Premium Income and Pacer Swan SOS is 0.38 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator Premium moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator Premium Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Premium Correlation With Market

Very poor diversification

The correlation between Innovator Premium Income and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Premium Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Innovator Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Innovator Premium Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Innovator Etf

0.68	BUFR	First Trust Cboe Sell-off Trend	Pair Corr
0.7	BUFD	FT Cboe Vest	Pair Corr
0.68	PSEP	Innovator SP 500	Pair Corr
0.69	PJAN	Innovator SP 500	Pair Corr
0.69	PJUL	Innovator SP 500	Pair Corr
0.68	PAUG	Innovator Equity Power	Pair Corr
0.74	DNOV	FT Cboe Vest	Pair Corr
0.73	PMAY	Innovator SP 500	Pair Corr
0.64	ACII	Innovator ETFs Trust	Pair Corr
0.86	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.87	GDXU	MicroSectors Gold Miners Trending	Pair Corr
0.9	JNUG	Direxion Daily Junior	Pair Corr
0.89	NUGT	Direxion Daily Gold	Pair Corr
0.9	WMT	Walmart Common Stock	Pair Corr
0.9	MRK	Merck Company Earnings Call This Week	Pair Corr
0.61	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.84	JNJ	Johnson Johnson	Pair Corr

Moving against Innovator Etf

0.57	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.43	NVDL	GraniteShares 15x Long Aggressive Push	Pair Corr
0.35	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.78	HPQ	HP Inc	Pair Corr
0.73	MSFT	Microsoft Aggressive Push	Pair Corr
0.38	MMM	3M Company	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.48	0.15	0.01	-0.05	-0.18	0.46	0.05	-0.14	-0.11	META
MSFT	0.48		0.76	-0.49	0.48	0.27	0.34	-0.15	-0.83	-0.65	MSFT
UBER	0.15	0.76		-0.45	0.42	0.5	0.05	-0.27	-0.8	-0.52	UBER
F	0.01	-0.49	-0.45		-0.59	-0.21	0.09	0.46	0.66	0.6	F
T	-0.05	0.48	0.42	-0.59		0.62	-0.15	-0.25	-0.46	-0.64	T
A	-0.18	0.27	0.5	-0.21	0.62		-0.2	-0.12	-0.31	-0.5	A
CRM	0.46	0.34	0.05	0.09	-0.15	-0.2		0.65	-0.11	-0.4	CRM
JPM	0.05	-0.15	-0.27	0.46	-0.25	-0.12	0.65		0.36	-0.05	JPM
MRK	-0.14	-0.83	-0.8	0.66	-0.46	-0.31	-0.11	0.36		0.7	MRK
XOM	-0.11	-0.65	-0.52	0.6	-0.64	-0.5	-0.4	-0.05	0.7		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.76	MSFT
XOM	+ 0.7	MRK
MRK	+ 0.66	F
JPM	+ 0.65	CRM
A	+ 0.62	T
XOM	+ 0.6	F

High negative correlations

MRK	- 0.83	MSFT
MRK	- 0.8	UBER
XOM	- 0.65	MSFT
XOM	- 0.64	T
T	- 0.59	F
XOM	- 0.52	UBER

Innovator Premium Competition Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Premium ETF 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 Innovator Premium'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
META	1.45	(0.19)	0.00	(0.12)	0.00	0.00	3.16	(2.67)	13.02
MSFT	1.07	(0.13)	0.00	(0.42)	0.00	0.00	1.85	(2.50)	4.90
UBER	1.43	(0.29)	0.00	(0.33)	0.00	0.00	2.50	(3.82)	10.23
F	1.47	0.12	0.09	0.15	1.32	(1.82)	3.65	(2.35)	16.30
T	0.88	(0.04)	0.00	(0.05)	0.00	0.00	1.63	(1.85)	4.30
A	1.20	(0.23)	0.00	(0.11)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.43	(0.22)	0.00	(0.15)	0.00	0.00	2.94	(3.10)	12.37
JPM	1.11	(0.05)	(0.01)	0.03	1.66	(1.09)	2.00	(3.11)	7.38
MRK	1.24	0.28	0.19	0.46	1.14	(1.50)	3.59	(1.98)	8.09
XOM	1.06	0.27	0.17	4.39	0.96	(1.23)	2.38	(1.51)	5.82

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