Innovator ETFs Correlations

EOCT Etf

USD 26.03 0.01 0.04%

The current 90-days correlation between Innovator ETFs Trust and Innovator ETFs Trust is -0.2 (i.e., Good diversification). The correlation of Innovator ETFs 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 ETFs Correlation With Market

Weak diversification

The correlation between Innovator ETFs Trust and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator ETFs Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Innovator ETFs Trust. 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

0.74	ITDD	iShares Trust	Pair Corr
0.62	HPQ	HP Inc	Pair Corr
0.7	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.63	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.72	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr

Moving against Innovator Etf

0.49	PG	Procter Gamble	Pair Corr
0.41	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.4	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.37	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	IOCT	EAPR	KOCT	EJAN	EJUL
IOCT		0.36	-0.65	0.4	0.37	IOCT
EAPR	0.36		0.04	0.99	1.0	EAPR
KOCT	-0.65	0.04		-0.01	0.04	KOCT
EJAN	0.4	0.99	-0.01		0.99	EJAN
EJUL	0.37	1.0	0.04	0.99		EJUL
	IOCT	EAPR	KOCT	EJAN	EJUL

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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

EJUL	+ 1.0	EAPR
EJAN	+ 0.99	EAPR
EJUL	+ 0.99	EJAN
EJAN	+ 0.4	IOCT
EJUL	+ 0.37	IOCT
EAPR	+ 0.36	IOCT

High negative correlations

KOCT	- 0.65	IOCT
EJAN	- 0.01	KOCT

Innovator ETFs Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator ETFs 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 ETFs' 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
IOCT	0.32	(0.06)	0.00	(1.81)	0.00	0.00	0.50	(0.95)	1.91
EAPR	0.44	(0.05)	0.00	(0.06)	0.00	0.00	1.30	(1.20)	3.21
KOCT	0.37	0.09	(0.05)	2.59	0.18	(0.45)	0.91	(0.77)	3.25
EJAN	0.52	(0.06)	0.00	(0.10)	0.00	0.00	1.48	(1.21)	3.64
EJUL	0.40	(0.04)	0.00	(0.05)	0.00	0.00	1.13	(1.09)	2.83

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