Innovator Premium Correlations

APRQ Etf

24.76 0.07 0.28%

The current 90-days correlation between Innovator Premium Income and Innovator Premium Income is 0.61 (i.e., Poor diversification). The correlation of Innovator Premium 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.

Innovator Premium Correlation With Market

Significant diversification

The correlation between Innovator Premium Income and DJI is 0.08 (i.e., Significant 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.

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 signals in metropolitan statistical area.

Moving together with Innovator Etf

0.8	BUFR	First Trust Cboe	Pair Corr
0.8	BUFD	FT Cboe Vest	Pair Corr
0.79	PSEP	Innovator SP 500	Pair Corr
0.94	PJAN	Innovator SP 500	Pair Corr
0.76	PJUL	Innovator SP 500	Pair Corr
0.77	PAUG	Innovator Equity Power	Pair Corr
0.72	DNOV	FT Cboe Vest	Pair Corr
0.91	PMAY	Innovator SP 500	Pair Corr
0.85	PJUN	Innovator SP 500	Pair Corr
0.61	VTI	Vanguard Total Stock	Pair Corr
0.63	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.78	VUG	Vanguard Growth Index	Pair Corr
0.66	BAC	Bank of America	Pair Corr
0.82	JPM	JPMorgan Chase	Pair Corr
0.9	AXP	American Express Earnings Call Today	Pair Corr
0.66	BA	Boeing Earnings Call This Week	Pair Corr
0.81	WMT	Walmart Aggressive Push	Pair Corr
0.89	CSCO	Cisco Systems Aggressive Push	Pair Corr

Moving against Innovator Etf

0.73	VWO	Vanguard FTSE Emerging	Pair Corr
0.55	VEA	Vanguard FTSE Developed	Pair Corr
0.54	INOV	Innovator ETFs Trust	Pair Corr
0.41	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.75	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.71	HPQ	HP Inc	Pair Corr
0.69	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.59	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.54	INTC	Intel Aggressive Push	Pair Corr
0.48	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.68	-0.65	-0.64	0.29	0.57	0.52	0.37	-0.12	-0.72	META
MSFT	0.68		-0.5	-0.25	0.53	0.38	0.62	0.3	-0.07	-0.47	MSFT
UBER	-0.65	-0.5		0.66	-0.5	-0.22	-0.75	-0.44	0.54	0.8	UBER
F	-0.64	-0.25	0.66		0.05	-0.3	-0.18	-0.09	0.2	0.91	F
T	0.29	0.53	-0.5	0.05		0.13	0.77	0.48	-0.3	-0.15	T
A	0.57	0.38	-0.22	-0.3	0.13		0.22	0.56	-0.07	-0.32	A
CRM	0.52	0.62	-0.75	-0.18	0.77	0.22		0.6	-0.5	-0.4	CRM
JPM	0.37	0.3	-0.44	-0.09	0.48	0.56	0.6		-0.62	-0.23	JPM
MRK	-0.12	-0.07	0.54	0.2	-0.3	-0.07	-0.5	-0.62		0.26	MRK
XOM	-0.72	-0.47	0.8	0.91	-0.15	-0.32	-0.4	-0.23	0.26		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

XOM	+ 0.91	F
XOM	+ 0.8	UBER
CRM	+ 0.77	T
MSFT	+ 0.68	META
F	+ 0.66	UBER
CRM	+ 0.62	MSFT

High negative correlations

CRM	- 0.75	UBER
XOM	- 0.72	META
UBER	- 0.65	META
F	- 0.64	META
MRK	- 0.62	JPM
MRK	- 0.5	CRM

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	1.35	0.13	0.05	(1.26)	1.51	(1.52)	3.43	(3.15)	7.43
MSFT	0.96	0.11	0.04	1.84	1.50	(0.95)	2.12	(1.73)	8.14
UBER	1.57	(0.22)	0.00	(2.31)	0.00	0.00	2.67	(5.35)	12.29
F	1.46	(0.12)	0.00	(0.19)	0.00	0.00	2.46	(2.90)	11.21
T	0.98	0.06	0.03	0.20	1.12	(1.06)	1.91	(1.84)	7.96
A	1.20	0.14	0.09	0.33	1.17	(1.40)	2.81	(2.42)	8.06
CRM	1.42	0.22	0.11	0.87	1.47	(1.61)	3.16	(2.88)	14.80
JPM	1.06	0.26	0.18	1.04	1.06	(1.24)	1.92	(1.42)	15.87
MRK	1.00	(0.19)	0.00	(0.99)	0.00	0.00	1.74	(2.17)	5.24
XOM	0.75	(0.14)	0.00	(0.31)	0.00	0.00	1.71	(1.67)	6.06

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