Innovator Correlations

PJAN Etf

USD 43.17 0.03 0.07%

The current 90-days correlation between Innovator SP 500 and Innovator SP 500 is 0.74 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator SP 500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Correlation With Market

Very weak diversification

The correlation between Innovator SP 500 and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator SP 500 and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Innovator SP 500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Innovator Etf

0.65	INOV	Innovator ETFs Trust	Pair Corr
0.87	BUFR	First Trust Cboe	Pair Corr
0.89	BUFD	FT Cboe Vest	Pair Corr
0.82	PSEP	Innovator SP 500	Pair Corr
0.83	PJUL	Innovator SP 500	Pair Corr
0.85	PAUG	Innovator Equity Power	Pair Corr
0.75	DNOV	FT Cboe Vest	Pair Corr
0.95	PMAY	Innovator SP 500	Pair Corr
0.91	PJUN	Innovator SP 500	Pair Corr
0.74	FNGU	MicroSectors FANG Index	Pair Corr
0.76	FNGO	MicroSectors FANG Index	Pair Corr
0.79	FNGS	MicroSectors FANG ETN	Pair Corr
0.87	GRN	iPath Series B	Pair Corr
0.88	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.79	WMT	Walmart Earnings Call This Week	Pair Corr
0.66	T	ATT Inc Aggressive Push	Pair Corr
0.7	IBM	International Business	Pair Corr
0.89	JPM	JPMorgan Chase	Pair Corr
0.91	MMM	3M Company	Pair Corr
0.77	GE	GE Aerospace Sell-off Trend	Pair Corr
0.86	AXP	American Express	Pair Corr

Moving against Innovator Etf

0.58	URNM	Sprott Uranium Miners	Pair Corr
0.68	AA	Alcoa Corp	Pair Corr
0.67	HPQ	HP Inc	Pair Corr
0.54	XOM	Exxon Mobil Corp	Pair Corr
0.41	INTC	Intel Aggressive Push	Pair Corr
0.39	DD	Dupont De Nemours	Pair Corr
0.31	VZ	Verizon Communications Sell-off Trend	Pair Corr

Related Correlations Analysis

	POCT	PJUL	PAPR	BJAN	UJAN
POCT		0.99	0.99	0.83	0.82	POCT
PJUL	0.99		0.99	0.84	0.83	PJUL
PAPR	0.99	0.99		0.88	0.87	PAPR
BJAN	0.83	0.84	0.88		1.0	BJAN
UJAN	0.82	0.83	0.87	1.0		UJAN
	POCT	PJUL	PAPR	BJAN	UJAN

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Innovator Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator 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'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
POCT	0.28	0.02	0.05	0.08	0.35	(0.28)	0.58	(0.57)	1.64
PJUL	0.27	0.02	0.05	0.10	0.39	(0.26)	0.53	(0.58)	2.02
PAPR	0.25	0.03	0.07	0.13	0.34	(0.25)	0.57	(0.55)	1.78
BJAN	0.24	0.05	0.11	0.18	0.20	(0.26)	0.67	(0.57)	2.26
UJAN	0.15	0.03	0.10	0.20	0.09	(0.16)	0.36	(0.40)	1.56

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