Innovator Correlations

Etfs . USA . 
Etf . Innovator SP 500
BOCT Etf  USD 43.59  0.10  0.23%   
The current 90-days correlation between Innovator SP 500 and Innovator Equity Buffer is 0.8 (i.e., Very poor diversification). 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 0.76 (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 main economic indicators.

Moving together with Innovator Etf

  0.92BUFR First Trust CboePairCorr
  0.91BUFD FT Cboe VestPairCorr
  0.9PSEP Innovator SP 500PairCorr
  0.89PJAN Innovator SP 500PairCorr
  0.9PJUL Innovator SP 500PairCorr
  0.9PAUG Innovator Equity PowerPairCorr
  0.84DNOV FT Cboe VestPairCorr
  0.89PMAY Innovator SP 500PairCorr
  0.89PJUN Innovator SP 500PairCorr
  0.92FNGU MicroSectors FANG IndexPairCorr
  0.71USD ProShares Ultra SemiPairCorr
  0.91FNGO MicroSectors FANG IndexPairCorr
  0.88GBTC Grayscale Bitcoin TrustPairCorr
  0.78TECL Direxion Daily Technology Sell-off TrendPairCorr
  0.91FNGS MicroSectors FANG ETNPairCorr
  0.8ROM ProShares Ultra TechPairCorr
  0.87QLD ProShares Ultra QQQPairCorr
  0.81DIS Walt Disney Aggressive PushPairCorr
  0.64CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.8INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.84TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.88CSCO Cisco Systems Aggressive PushPairCorr
  0.86JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.76HPQ HP IncPairCorr
  0.88AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.61HD Home DepotPairCorr
  0.8AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr

Moving against Innovator Etf

  0.79MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.69PFE Pfizer Inc Aggressive PushPairCorr

Related Correlations Analysis

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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.

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