Innovator Correlations

BAPR Etf

USD 44.24 0.44 1.00%

The current 90-days correlation between Innovator SP 500 and Innovator SP 500 is 0.99 (i.e., No risk reduction). The correlation of Innovator 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 Correlation With Market

Poor diversification

The correlation between Innovator SP 500 and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator SP 500 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 SP 500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Innovator Etf

0.98	BUFR	First Trust Cboe	Pair Corr
0.96	BUFD	FT Cboe Vest	Pair Corr
0.98	PSEP	Innovator SP 500	Pair Corr
0.77	PJAN	Innovator SP 500	Pair Corr
0.83	PJUL	Innovator SP 500	Pair Corr
0.98	PAUG	Innovator Equity Power	Pair Corr
0.99	DNOV	FT Cboe Vest	Pair Corr
0.78	PMAY	Innovator SP 500	Pair Corr
0.93	PJUN	Innovator SP 500	Pair Corr
0.69	ITDD	iShares Trust	Pair Corr
0.63	LUX	Tema ETF Trust	Pair Corr

Moving against Innovator Etf

0.53	SSG	ProShares UltraShort	Pair Corr
0.4	HDGE	AdvisorShares Ranger	Pair Corr
0.77	PSQ	ProShares Short QQQ	Pair Corr

Related Correlations Analysis

	BOCT	PAPR	BJAN	UAPR	BJUL
BOCT		0.92	0.73	0.94	1.0	BOCT
PAPR	0.92		0.88	0.99	0.93	PAPR
BJAN	0.73	0.88		0.88	0.74	BJAN
UAPR	0.94	0.99	0.88		0.95	UAPR
BJUL	1.0	0.93	0.74	0.95		BJUL
	BOCT	PAPR	BJAN	UAPR	BJUL

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Innovator Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator 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'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
BOCT	0.41	0.00	0.00	(0.06)	0.00	0.00	0.81	(1.03)	2.65
PAPR	0.31	0.01	0.11	(0.03)	0.48	(0.30)	0.69	(0.79)	2.14
BJAN	0.33	0.03	0.12	0.01	0.51	(0.32)	0.88	(0.93)	2.60
UAPR	0.35	0.01	0.00	(0.03)	0.00	0.00	0.78	(0.87)	2.57
BJUL	0.44	0.00	0.00	(0.06)	0.00	0.00	0.90	(1.11)	2.70

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