Innovator Equity Correlations

Etfs . USA . 
Etf . Innovator Equity Dual
DDTO Etf   21.72  0.04  0.18%   
The current 90-days correlation between Innovator Equity Dual and FT Vest Equity is 0.83 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator Equity moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator Equity Dual moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Equity Correlation With Market

Poor diversification

The correlation between Innovator Equity Dual and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Equity Dual and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Innovator Etf
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Innovator Equity Dual. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Innovator Etf

  0.65VB Vanguard Small CapPairCorr

Related Correlations Analysis


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
+ 0.84
MSFT
XOM
+ 0.76
F
MRK
+ 0.71
F
MSFT
+ 0.66
META
XOM
+ 0.64
MRK
T
+ 0.6
META
  

High negative correlations

MRK
- 0.84
UBER
MRK
- 0.77
MSFT
T
- 0.72
F
F
- 0.66
META
XOM
- 0.65
META
A
- 0.63
META

Innovator Equity Competition Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Equity 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 Equity'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.41 (0.29) 0.00 (0.25) 0.00 
 0.00 
 2.30 
(2.72)
 13.52 
MSFT  0.92 (0.14) 0.00 (0.16) 0.00 
 0.00 
 1.78 
(2.50)
 5.08 
UBER  1.49 (0.34) 0.00 (0.26) 0.00 
 0.00 
 2.60 
(3.82)
 10.51 
F  1.49  0.17  0.10  0.17  1.70 
(1.62)
 3.38 
(2.63)
 16.30 
T  0.95 (0.27) 0.00 (0.91) 0.00 
 0.00 
 1.61 
(2.18)
 5.75 
A  1.25  0.08  0.06  0.13  1.31 
(1.33)
 2.34 
(2.21)
 11.03 
CRM  1.58  0.06  0.03  0.11  2.05 
(1.53)
 3.66 
(2.92)
 9.91 
JPM  1.03 (0.02)(0.01) 0.04  1.40 
(1.03)
 2.00 
(1.91)
 7.02 
MRK  1.47  0.35  0.25  0.47  1.11 
(1.91)
 4.85 
(2.06)
 11.45 
XOM  0.96  0.07  0.02  0.36  0.99 
(1.01)
 1.96 
(1.51)
 4.99 

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