Innovator ETFs Correlations

IOCT Etf

USD 30.17 0.17 0.57%

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

Average diversification

The correlation between Innovator ETFs Trust and DJI is 0.18 (i.e., Average 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 Risk vs Return Analysis 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 various price indices.

Moving together with Innovator Etf

0.99	INOV	Innovator ETFs Trust	Pair Corr
0.72	CAT	Caterpillar Earnings Call This Week	Pair Corr

Moving against Innovator Etf

0.37	AMPD	Tidal Trust II	Pair Corr
0.39	DIS	Walt Disney Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.36	-0.36	-0.24	0.24	0.77	0.4	0.13	0.29	-0.28	META
MSFT	0.36		-0.58	-0.23	0.48	0.2	0.55	0.3	-0.01	-0.46	MSFT
UBER	-0.36	-0.58		0.62	-0.19	-0.01	-0.47	0.06	-0.06	0.77	UBER
F	-0.24	-0.23	0.62		0.05	-0.2	0.01	-0.06	0.09	0.9	F
T	0.24	0.48	-0.19	0.05		0.11	0.51	0.59	-0.17	-0.17	T
A	0.77	0.2	-0.01	-0.2	0.11		0.1	0.26	0.25	-0.17	A
CRM	0.4	0.55	-0.47	0.01	0.51	0.1		0.0	0.27	-0.16	CRM
JPM	0.13	0.3	0.06	-0.06	0.59	0.26	0.0		-0.55	-0.24	JPM
MRK	0.29	-0.01	-0.06	0.09	-0.17	0.25	0.27	-0.55		0.16	MRK
XOM	-0.28	-0.46	0.77	0.9	-0.17	-0.17	-0.16	-0.24	0.16		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.9	F
A	+ 0.77	META
XOM	+ 0.77	UBER
F	+ 0.62	UBER
JPM	+ 0.59	T
CRM	+ 0.55	MSFT

High negative correlations

UBER	- 0.58	MSFT
MRK	- 0.55	JPM
CRM	- 0.47	UBER
XOM	- 0.46	MSFT
UBER	- 0.36	META
XOM	- 0.28	META

Innovator ETFs Competition 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
META	1.39	0.31	0.17	0.79	1.22	(1.63)	3.43	(1.95)	7.43
MSFT	1.12	(0.03)	0.00	(0.42)	0.00	0.00	2.20	(2.79)	7.31
UBER	1.46	(0.19)	0.00	(0.30)	0.00	0.00	2.67	(2.53)	12.29
F	1.47	(0.18)	0.00	(0.20)	0.00	0.00	2.57	(2.90)	11.21
T	1.00	0.10	0.04	0.30	1.08	(1.12)	1.91	(1.84)	7.94
A	1.15	0.13	0.04	1.36	1.14	(1.37)	2.81	(2.16)	5.70
CRM	1.55	0.28	0.13	0.81	1.42	(1.88)	3.96	(2.95)	14.80
JPM	1.05	0.25	0.15	0.96	1.05	(1.23)	1.92	(1.42)	15.87
MRK	1.03	(0.11)	0.00	(0.43)	0.00	0.00	2.00	(2.13)	5.24
XOM	0.82	(0.16)	0.00	(0.28)	0.00	0.00	1.71	(1.74)	6.06

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