Innovator Small Correlations

KFEB Etf

28.78 0.26 0.90%

The current 90-days correlation between Innovator Small Cap and Vanguard Total Stock is 0.18 (i.e., Average diversification). The correlation of Innovator Small 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 Small Correlation With Market

Modest diversification

The correlation between Innovator Small Cap and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Small Cap and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Innovator Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Innovator Small Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with Innovator Etf

0.81	VTI	Vanguard Total Stock	Pair Corr
0.77	SPY	SPDR SP 500	Pair Corr
0.77	IVV	iShares Core SP	Pair Corr
0.89	VTV	Vanguard Value Index	Pair Corr
0.88	VO	Vanguard Mid Cap	Pair Corr
0.9	VEA	Vanguard FTSE Developed	Pair Corr
0.94	VB	Vanguard Small Cap	Pair Corr
0.66	VWO	Vanguard FTSE Emerging	Pair Corr
0.94	ISCB	iShares Morningstar	Pair Corr
0.61	RAYS	Global X	Pair Corr
0.89	INCM	Franklin Templeton ETF	Pair Corr
0.7	CETH	21shares Core Ethereum Symbol Change	Pair Corr
0.89	PAPI	Morgan Stanley ETF	Pair Corr
0.86	FALN	iShares Fallen Angels	Pair Corr
0.85	GAPR	First Trust Exchange	Pair Corr
0.85	USHY	iShares Broad USD Sell-off Trend	Pair Corr
0.91	VT	Vanguard Total World	Pair Corr
0.73	SGVT	Schwab Strategic Trust	Pair Corr
0.87	FIVA	Fidelity International	Pair Corr
0.85	HYLB	Xtrackers USD High Sell-off Trend	Pair Corr
0.96	DXUV	Dimensional ETF Trust	Pair Corr
0.79	SKOR	FlexShares Credit	Pair Corr
0.9	SCYB	Schwab Strategic Trust Sell-off Trend	Pair Corr
0.85	SMH	VanEck Semiconductor ETF	Pair Corr
0.88	DDX	Defined Duration Symbol Change	Pair Corr
0.77	VOO	Vanguard SP 500	Pair Corr
0.83	SPUT	Innovator ETFs Trust	Pair Corr
0.78	JPIE	JP Morgan Exchange Sell-off Trend	Pair Corr
0.83	GQI	Natixis ETF Trust	Pair Corr
0.72	STOT	SPDR DoubleLine Short	Pair Corr

Moving against Innovator Etf

0.79	STSB	Stance Sustainable Beta Symbol Change	Pair Corr
0.48	CORX	2x Corn ETF	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.61	0.31	-0.37	0.24	-0.18	0.47	-0.15	-0.35	-0.43	META
MSFT	0.61		0.8	-0.54	0.5	0.13	0.2	-0.4	-0.84	-0.72	MSFT
UBER	0.31	0.8		-0.47	0.43	0.37	-0.09	-0.47	-0.81	-0.53	UBER
F	-0.37	-0.54	-0.47		-0.69	0.03	0.21	0.66	0.7	0.69	F
T	0.24	0.5	0.43	-0.69		0.4	-0.36	-0.55	-0.51	-0.65	T
A	-0.18	0.13	0.37	0.03	0.4		-0.44	-0.25	-0.13	-0.19	A
CRM	0.47	0.2	-0.09	0.21	-0.36	-0.44		0.52	0.05	-0.09	CRM
JPM	-0.15	-0.4	-0.47	0.66	-0.55	-0.25	0.52		0.6	0.44	JPM
MRK	-0.35	-0.84	-0.81	0.7	-0.51	-0.13	0.05	0.6		0.78	MRK
XOM	-0.43	-0.72	-0.53	0.69	-0.65	-0.19	-0.09	0.44	0.78		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

UBER	+ 0.8	MSFT
XOM	+ 0.78	MRK
MRK	+ 0.7	F
XOM	+ 0.69	F
JPM	+ 0.66	F
MSFT	+ 0.61	META

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.81	UBER
XOM	- 0.72	MSFT
T	- 0.69	F
XOM	- 0.65	T
JPM	- 0.55	T

Innovator Small Competition Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Small 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 Small'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
META	1.34	(0.31)	0.00	(0.25)	0.00	0.00	2.30	(2.67)	13.46
MSFT	0.96	(0.21)	0.00	(0.41)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.47	(0.23)	0.00	(0.20)	0.00	0.00	2.60	(3.82)	10.23
F	1.44	0.12	0.10	0.15	1.33	(1.75)	3.38	(2.35)	16.30
T	0.89	(0.17)	0.00	(0.46)	0.00	0.00	1.53	(1.85)	4.30
A	1.16	(0.12)	0.00	(0.03)	0.00	0.00	2.34	(2.24)	7.85
CRM	1.59	(0.16)	0.00	(0.08)	0.00	0.00	3.66	(3.10)	12.37
JPM	1.16	(0.10)	(0.04)	0.00	1.73	(1.13)	2.00	(3.11)	7.38
MRK	1.22	0.37	0.27	0.53	1.01	(1.52)	3.59	(1.98)	8.09
XOM	1.06	0.24	0.15	4.24	0.98	(1.21)	2.37	(1.51)	5.82

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