Innovator ETFs Correlations

JULD Etf

25.18 0.02 0.08%

The current 90-days correlation between Innovator ETFs Trust and Innovator SP 500 is 0.92 (i.e., Almost no 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.

Innovator ETFs Correlation With Market

Modest diversification

The correlation between Innovator ETFs Trust and DJI is 0.28 (i.e., Modest 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 signals in bureau of economic analysis.

Moving together with Innovator Etf

0.95	BUFR	First Trust Cboe	Pair Corr
0.95	BUFD	FT Cboe Vest	Pair Corr
0.93	PSEP	Innovator SP 500	Pair Corr
0.92	PJAN	Innovator SP 500	Pair Corr
0.94	PJUL	Innovator SP 500	Pair Corr
0.94	PAUG	Innovator Equity Power	Pair Corr
0.83	DNOV	FT Cboe Vest	Pair Corr
0.99	PMAY	Innovator SP 500	Pair Corr
0.98	PJUN	Innovator SP 500	Pair Corr
0.8	VTI	Vanguard Total Stock	Pair Corr
0.82	SPY	SPDR SP 500	Pair Corr
0.82	IVV	iShares Core SP	Pair Corr
0.87	VUG	Vanguard Growth Index	Pair Corr
0.75	BAC	Bank of America Sell-off Trend	Pair Corr
0.88	JPM	JPMorgan Chase	Pair Corr
0.96	AXP	American Express	Pair Corr
0.61	BA	Boeing	Pair Corr
0.73	MMM	3M Company	Pair Corr
0.66	IBM	International Business Upward Rally	Pair Corr
0.85	WMT	Walmart Aggressive Push	Pair Corr
0.94	CSCO	Cisco Systems	Pair Corr

Moving against Innovator Etf

0.57	VWO	Vanguard FTSE Emerging	Pair Corr
0.57	HPQ	HP Inc	Pair Corr
0.56	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.54	XOM	Exxon Mobil Corp Earnings Call Tomorrow	Pair Corr
0.49	MRK	Merck Company Earnings Call This Week	Pair Corr
0.43	INTC	Intel	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.73	-0.47	-0.52	0.54	0.75	0.54	0.6	-0.18	-0.65	META
MSFT	0.73		-0.47	-0.25	0.54	0.46	0.64	0.36	-0.04	-0.48	MSFT
UBER	-0.47	-0.47		0.65	-0.31	-0.21	-0.67	-0.29	0.36	0.78	UBER
F	-0.52	-0.25	0.65		0.06	-0.32	-0.13	-0.07	0.12	0.9	F
T	0.54	0.54	-0.31	0.06		0.36	0.71	0.55	-0.17	-0.16	T
A	0.75	0.46	-0.21	-0.32	0.36		0.31	0.7	-0.22	-0.38	A
CRM	0.54	0.64	-0.67	-0.13	0.71	0.31		0.56	-0.37	-0.37	CRM
JPM	0.6	0.36	-0.29	-0.07	0.55	0.7	0.56		-0.59	-0.24	JPM
MRK	-0.18	-0.04	0.36	0.12	-0.17	-0.22	-0.37	-0.59		0.19	MRK
XOM	-0.65	-0.48	0.78	0.9	-0.16	-0.38	-0.37	-0.24	0.19		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
XOM	+ 0.78	UBER
A	+ 0.75	META
MSFT	+ 0.73	META
CRM	+ 0.71	T
JPM	+ 0.7	A

High negative correlations

CRM	- 0.67	UBER
XOM	- 0.65	META
MRK	- 0.59	JPM
F	- 0.52	META
XOM	- 0.48	MSFT
UBER	- 0.47	MSFT

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	0.25	0.13	0.74	1.40	(1.59)	3.43	(2.31)	7.43
MSFT	1.02	0.06	(0.01)	0.63	1.57	(1.01)	2.20	(2.14)	7.31
UBER	1.58	(0.26)	0.00	(2.57)	0.00	0.00	2.67	(5.35)	12.29
F	1.49	(0.13)	0.00	(0.15)	0.00	0.00	2.57	(2.90)	11.21
T	1.01	0.10	0.05	0.27	1.10	(1.12)	1.91	(1.84)	7.94
A	1.18	0.12	0.06	0.33	1.13	(1.41)	2.81	(2.16)	8.06
CRM	1.51	0.32	0.16	1.11	1.42	(1.76)	3.70	(2.88)	14.80
JPM	1.05	0.26	0.16	1.00	1.05	(1.24)	1.92	(1.42)	15.87
MRK	1.03	(0.13)	0.00	(0.52)	0.00	0.00	2.00	(2.13)	5.24
XOM	0.82	(0.18)	0.00	(0.33)	0.00	0.00	1.71	(1.74)	6.06

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