Innovator Small Correlations

RBUF Etf

29.69 0.13 0.44%

The current 90-days correlation between Innovator Small Cap and Innovator SP 500 is 0.15 (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

Average diversification

The correlation between Innovator Small Cap and DJI is 0.16 (i.e., Average 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 Your Equity Center 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 producer price index.

Moving together with Innovator Etf

0.79	INOV	Innovator ETFs Trust	Pair Corr
0.89	BUFR	First Trust Cboe	Pair Corr
0.87	BUFD	FT Cboe Vest	Pair Corr
0.87	PSEP	Innovator SP 500	Pair Corr
0.83	PJAN	Innovator SP 500	Pair Corr
0.89	PJUL	Innovator SP 500	Pair Corr
0.87	PAUG	Innovator Equity Power	Pair Corr
0.8	DNOV	FT Cboe Vest	Pair Corr
0.88	PMAY	Innovator SP 500	Pair Corr
0.86	ACII	Innovator ETFs Trust	Pair Corr
0.75	GDXU	MicroSectors Gold Miners	Pair Corr
0.61	MULL	GraniteShares 2x Long Trending	Pair Corr
0.79	JNUG	Direxion Daily Junior	Pair Corr
0.74	AGQ	ProShares Ultra Silver	Pair Corr
0.75	NUGT	Direxion Daily Gold	Pair Corr
0.75	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.84	GQI	Natixis ETF Trust	Pair Corr
0.85	VYM	Vanguard High Dividend	Pair Corr
0.7	SMH	VanEck Semiconductor ETF	Pair Corr
0.93	AVUV	Avantis Small Cap	Pair Corr
0.76	DDX	Defined Duration Symbol Change	Pair Corr
0.77	VV	Vanguard Large Cap	Pair Corr
0.79	EFA	iShares MSCI EAFE	Pair Corr
0.81	CEFZ	RiverNorth Active Income	Pair Corr
0.76	JPIE	JP Morgan Exchange	Pair Corr
0.75	FUSI	American Century ETF	Pair Corr
0.67	QTUM	Defiance Quantum ETF	Pair Corr
0.75	PAPI	Morgan Stanley ETF	Pair Corr
0.71	VGSH	Vanguard Short Term	Pair Corr
0.82	SPUT	Innovator ETFs Trust	Pair Corr
0.69	HEGD	Swan Hedged Equity	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.6	0.23	-0.34	0.23	-0.14	0.52	-0.13	-0.34	-0.42	META
MSFT	0.6		0.75	-0.54	0.51	0.17	0.28	-0.34	-0.84	-0.74	MSFT
UBER	0.23	0.75		-0.49	0.41	0.35	-0.07	-0.52	-0.84	-0.51	UBER
F	-0.34	-0.54	-0.49		-0.68	-0.03	0.13	0.65	0.69	0.67	F
T	0.23	0.51	0.41	-0.68		0.45	-0.28	-0.52	-0.51	-0.65	T
A	-0.14	0.17	0.35	-0.03	0.45		-0.41	-0.25	-0.17	-0.24	A
CRM	0.52	0.28	-0.07	0.13	-0.28	-0.41		0.52	-0.02	-0.21	CRM
JPM	-0.13	-0.34	-0.52	0.65	-0.52	-0.25	0.52		0.56	0.36	JPM
MRK	-0.34	-0.84	-0.84	0.69	-0.51	-0.17	-0.02	0.56		0.77	MRK
XOM	-0.42	-0.74	-0.51	0.67	-0.65	-0.24	-0.21	0.36	0.77		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

XOM	+ 0.77	MRK
UBER	+ 0.75	MSFT
MRK	+ 0.69	F
XOM	+ 0.67	F
JPM	+ 0.65	F
MSFT	+ 0.6	META

High negative correlations

MRK	- 0.84	UBER
MRK	- 0.84	MSFT
XOM	- 0.74	MSFT
T	- 0.68	F
XOM	- 0.65	T
F	- 0.54	MSFT

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	1.35	(0.31)	0.00	(0.21)	0.00	0.00	2.30	(2.67)	13.46
MSFT	0.99	(0.25)	0.00	(0.57)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.47	(0.12)	0.00	0.29	0.00	0.00	2.60	(3.82)	10.23
F	1.50	0.13	0.12	0.18	1.32	(1.81)	3.69	(2.35)	16.30
T	0.88	(0.18)	0.00	(0.45)	0.00	0.00	1.53	(1.85)	4.30
A	1.19	(0.13)	(0.07)	(0.01)	1.46	(1.27)	2.90	(2.24)	7.85
CRM	1.55	(0.25)	0.00	(0.12)	0.00	0.00	3.59	(3.10)	12.37
JPM	1.12	(0.10)	(0.04)	0.02	1.67	(1.13)	2.00	(3.11)	7.38
MRK	1.22	0.37	0.26	0.56	1.02	(1.52)	3.59	(1.98)	8.09
XOM	1.08	0.29	0.17	2.95	0.97	(1.25)	2.38	(1.51)	5.82

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