Innovator Russell Correlations

KJUL Etf

USD 30.25 0.03 0.1%

The current 90-days correlation between Innovator Russell 2000 and Innovator Nasdaq 100 Power is 0.68 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator Russell moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator Russell 2000 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Russell Correlation With Market

Very poor diversification

The correlation between Innovator Russell 2000 and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Russell 2000 and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Innovator Russell 2000. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Innovator Etf

0.94	BUFR	First Trust Cboe	Pair Corr
0.93	BUFD	FT Cboe Vest	Pair Corr
0.94	PSEP	Innovator SP 500	Pair Corr
0.92	PJAN	Innovator SP 500	Pair Corr
0.92	PJUL	Innovator SP 500	Pair Corr
0.93	PAUG	Innovator Equity Power	Pair Corr
0.87	DNOV	FT Cboe Vest	Pair Corr
0.93	PMAY	Innovator SP 500	Pair Corr
0.93	PJUN	Innovator SP 500	Pair Corr
0.93	FNGU	MicroSectors FANG Index	Pair Corr
0.73	USD	ProShares Ultra Semi	Pair Corr
0.92	FNGO	MicroSectors FANG Index	Pair Corr
0.88	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.82	TECL	Direxion Daily Technology	Pair Corr
0.92	FNGS	MicroSectors FANG ETN	Pair Corr
0.83	ROM	ProShares Ultra Tech	Pair Corr
0.91	QLD	ProShares Ultra QQQ	Pair Corr
0.61	SMH	VanEck Semiconductor ETF	Pair Corr
0.82	DIS	Walt Disney Aggressive Push	Pair Corr
0.73	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.87	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.73	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.89	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.83	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.81	HPQ	HP Inc	Pair Corr
0.94	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.66	HD	Home Depot	Pair Corr
0.86	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Moving against Innovator Etf

0.77	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.7	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.34	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	NAPR	KJAN	NJAN	NOCT	EJAN
NAPR		0.91	1.0	0.9	0.4	NAPR
KJAN	0.91		0.91	0.92	0.12	KJAN
NJAN	1.0	0.91		0.89	0.38	NJAN
NOCT	0.9	0.92	0.89		0.08	NOCT
EJAN	0.4	0.12	0.38	0.08		EJAN
	NAPR	KJAN	NJAN	NOCT	EJAN

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Innovator Russell Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Russell 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 Russell'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
NAPR	0.38	0.00	(0.10)	0.11	0.50	(0.40)	0.80	(0.94)	2.53
KJAN	0.53	(0.01)	(0.03)	0.11	0.49	(0.57)	1.31	(0.99)	4.10
NJAN	0.25	0.01	(0.15)	0.14	0.31	(0.25)	0.63	(0.50)	1.86
NOCT	0.26	0.00	(0.15)	0.11	0.38	(0.24)	0.75	(0.85)	2.41
EJAN	0.52	(0.06)	0.00	(0.10)	0.00	0.00	1.48	(1.21)	3.64

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