Innovator Nasdaq Correlations

Etfs USA . 
Etf . Innovator Nasdaq 100 Power
NJUL Etf  USD 62.26  0.12  0.19%   
The current 90-days correlation between Innovator Nasdaq 100 and Innovator Nasdaq 100 Power is 0.98 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator Nasdaq moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator Nasdaq 100 Power moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Nasdaq Correlation With Market

Poor diversification

The correlation between Innovator Nasdaq 100 Power and DJI is 0.64 (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 employment.

Moving together with Innovator Etf

  0.99BUFR First Trust CboePairCorr
  0.98BUFD FT Cboe VestPairCorr
  0.99PSEP Innovator SP 500PairCorr
  0.97PJAN Innovator SP 500PairCorr
  0.99PJUL Innovator SP 500PairCorr
  0.99PAUG Innovator Equity PowerPairCorr
  0.93DNOV FT Cboe VestPairCorr
  0.99PMAY Innovator SP 500PairCorr
  0.99PJUN Innovator SP 500PairCorr
  0.98FNGU MicroSectors FANG IndexPairCorr
  0.89USD ProShares Ultra SemiPairCorr
  0.98FNGO MicroSectors FANG IndexPairCorr
  0.8GBTC Grayscale Bitcoin TrustPairCorr
  0.94TECL Direxion Daily TechnologyPairCorr
  0.98FNGS MicroSectors FANG ETNPairCorr
  0.95ROM ProShares Ultra TechPairCorr
  0.99QLD ProShares Ultra QQQPairCorr
  0.8SMH VanEck Semiconductor ETFPairCorr
  0.75DIS Walt Disney Aggressive PushPairCorr
  0.85CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.66XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr
  0.92INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.73TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.94CSCO Cisco Systems Aggressive PushPairCorr
  0.72JPM JPMorgan Chase Sell-off TrendPairCorr
  0.85HPQ HP IncPairCorr
  0.91AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.78HD Home DepotPairCorr
  0.92AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr

Moving against Innovator Etf

  0.83MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.6PFE Pfizer Inc Aggressive PushPairCorr
  0.48PG Procter GamblePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY