Innovator MSCI Correlations

IAPR Etf

USD 27.12 0.22 0.82%

The current 90-days correlation between Innovator MSCI EAFE and Innovator MSCI Emerging is 0.76 (i.e., Poor diversification). The correlation of Innovator MSCI 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 MSCI Correlation With Market

Very weak diversification

The correlation between Innovator MSCI EAFE and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator MSCI EAFE and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Innovator MSCI EAFE. 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

0.69	INOV	Innovator ETFs Trust	Pair Corr
0.89	KO	Coca Cola Aggressive Push	Pair Corr
0.64	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.82	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.84	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.69	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Moving against Innovator Etf

0.85	MEME	Roundhill Investments	Pair Corr
0.85	BAC	Bank of America Aggressive Push	Pair Corr
0.84	RSPY	Tuttle Capital Management	Pair Corr
0.78	DSJA	DSJA	Pair Corr
0.7	DNOV	FT Cboe Vest	Pair Corr
0.67	PJAN	Innovator SP 500	Pair Corr
0.64	BUFD	FT Cboe Vest	Pair Corr
0.62	BUFR	First Trust Cboe	Pair Corr
0.61	PMAY	Innovator SP 500	Pair Corr
0.6	PJUN	Innovator SP 500	Pair Corr
0.58	PJUL	Innovator SP 500	Pair Corr
0.58	PAUG	Innovator Equity Power	Pair Corr
0.57	PSEP	Innovator SP 500	Pair Corr
0.84	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.76	WMT	Walmart Aggressive Push	Pair Corr
0.72	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.71	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.63	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.42	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	EAPR	KAPR	PAPR	NAPR	IJAN
EAPR		0.06	0.3	0.34	0.41	EAPR
KAPR	0.06		0.93	0.91	-0.68	KAPR
PAPR	0.3	0.93		0.99	-0.62	PAPR
NAPR	0.34	0.91	0.99		-0.6	NAPR
IJAN	0.41	-0.68	-0.62	-0.6		IJAN
	EAPR	KAPR	PAPR	NAPR	IJAN

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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

NAPR	+ 0.99	PAPR
PAPR	+ 0.93	KAPR
NAPR	+ 0.91	KAPR
IJAN	+ 0.41	EAPR
NAPR	+ 0.34	EAPR
PAPR	+ 0.3	EAPR

High negative correlations

IJAN	- 0.68	KAPR
IJAN	- 0.62	PAPR
IJAN	- 0.6	NAPR

Innovator MSCI Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator MSCI 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 MSCI'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
EAPR	0.44	(0.04)	(0.22)	(0.04)	0.61	(0.44)	1.30	(1.20)	3.21
KAPR	0.50	(0.01)	(0.06)	0.12	0.43	(0.61)	1.08	(0.91)	4.07
PAPR	0.28	0.01	(0.17)	0.14	0.27	(0.31)	0.66	(0.55)	1.86
NAPR	0.37	0.01	(0.09)	0.15	0.46	(0.41)	0.80	(0.94)	2.53
IJAN	0.46	(0.11)	0.00	(0.22)	0.00	0.00	0.87	(1.13)	2.77

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