Innovator Nasdaq Correlations

Etfs . USA . 
Etf . Innovator Nasdaq 100 Power
NAPR Etf  USD 50.11  0.15  0.30%   
The current 90-days correlation between Innovator Nasdaq 100 and Innovator Growth 100 Power is 0.75 (i.e., Poor diversification). The correlation of Innovator Nasdaq 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 Nasdaq Correlation With Market

Poor diversification

The correlation between Innovator Nasdaq 100 Power and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Nasdaq 100 Power 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 Nasdaq 100 Power. 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

  0.99BUFR First Trust CboePairCorr
  0.99BUFD FT Cboe VestPairCorr
  0.99PSEP Innovator SP 500PairCorr
  0.98PJAN Innovator SP 500PairCorr
  0.99PJUL Innovator SP 500PairCorr
  0.99PAUG Innovator Equity PowerPairCorr
  0.94DNOV FT Cboe VestPairCorr
  0.99PMAY Innovator SP 500PairCorr
  0.99PJUN Innovator SP 500PairCorr
  0.98FNGU MicroSectors FANG IndexPairCorr
  0.88USD ProShares Ultra SemiPairCorr
  0.98FNGO MicroSectors FANG IndexPairCorr
  0.81GBTC Grayscale Bitcoin TrustPairCorr
  0.93TECL Direxion Daily TechnologyPairCorr
  0.98FNGS MicroSectors FANG ETNPairCorr
  0.94ROM ProShares Ultra TechPairCorr
  0.99QLD ProShares Ultra QQQPairCorr
  0.79SMH VanEck Semiconductor ETFPairCorr
  0.77DIS Walt Disney Aggressive PushPairCorr
  0.86CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.67XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr
  0.92INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.75TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.95CSCO Cisco Systems Aggressive PushPairCorr
  0.74JPM JPMorgan Chase Sell-off TrendPairCorr
  0.85HPQ HP IncPairCorr
  0.92AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.8HD Home DepotPairCorr
  0.93AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr

Moving against Innovator Etf

  0.85MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.62PFE Pfizer Inc Aggressive PushPairCorr
  0.47PG Procter GamblePairCorr

Related Correlations Analysis

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Innovator Nasdaq Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Nasdaq 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 Nasdaq'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.

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