Innovator Equity Correlations

TAPR Etf

USD 25.88 0.02 0.08%

The current 90-days correlation between Innovator Equity Defined and Siren DIVCON Dividend is -0.05 (i.e., Good diversification). The correlation of Innovator Equity 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 Equity Correlation With Market

Poor diversification

The correlation between Innovator Equity Defined and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Equity Defined and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Innovator Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Innovator Equity Defined. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Innovator Etf

0.88	VTI	Vanguard Total Stock	Pair Corr
0.87	SPY	SPDR SP 500	Pair Corr
0.87	IVV	iShares Core SP	Pair Corr
0.87	TOT	Advisor Managed Port	Pair Corr
0.92	VTV	Vanguard Value Index	Pair Corr
0.67	ESGB	IndexIQ Active ETF	Pair Corr
0.76	APRT	AllianzIM Large Cap	Pair Corr
0.78	AJUL	Innovator Equity Defined	Pair Corr
0.76	QQJG	Invesco ESG NASDAQ	Pair Corr
0.82	FSMD	Fidelity Small Mid	Pair Corr
0.68	BATT	Amplify Lithium Battery	Pair Corr
0.66	QQQ	Invesco QQQ Trust	Pair Corr
0.76	RJMG	First Trust Exchange	Pair Corr
0.78	XVV	iShares ESG Screened	Pair Corr
0.87	VOO	Vanguard SP 500	Pair Corr
0.77	EQRR	ProShares Equities for	Pair Corr
0.94	DFAX	Dimensional World	Pair Corr
0.81	QULL	ETRACS 2x Leveraged	Pair Corr
0.9	FTBI	First Trust Exchange	Pair Corr
0.91	HEZU	iShares Currency Hedged	Pair Corr
0.73	USCL	iShares Climate Conscious	Pair Corr
0.75	JNK	SPDR Bloomberg High Sell-off Trend	Pair Corr
0.74	APRW	AllianzIM Large Cap	Pair Corr
0.84	AVUV	Avantis Small Cap	Pair Corr
0.88	COPA	Themes Copper Miners Low Volatility	Pair Corr
0.8	FVAL	Fidelity Value Factor	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.67	0.47	-0.55	0.42	-0.44	0.23	-0.21	-0.45	-0.59	META
MSFT	0.67		0.85	-0.54	0.41	-0.13	-0.01	-0.38	-0.8	-0.63	MSFT
UBER	0.47	0.85		-0.58	0.54	-0.02	-0.25	-0.43	-0.86	-0.66	UBER
F	-0.55	-0.54	-0.58		-0.65	0.33	0.33	0.52	0.64	0.78	F
T	0.42	0.41	0.54	-0.65		-0.14	-0.59	-0.4	-0.42	-0.56	T
A	-0.44	-0.13	-0.02	0.33	-0.14		-0.36	-0.32	0.14	0.12	A
CRM	0.23	-0.01	-0.25	0.33	-0.59	-0.36		0.49	0.2	0.3	CRM
JPM	-0.21	-0.38	-0.43	0.52	-0.4	-0.32	0.49		0.52	0.52	JPM
MRK	-0.45	-0.8	-0.86	0.64	-0.42	0.14	0.2	0.52		0.74	MRK
XOM	-0.59	-0.63	-0.66	0.78	-0.56	0.12	0.3	0.52	0.74		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

UBER	+ 0.85	MSFT
XOM	+ 0.78	F
XOM	+ 0.74	MRK
MSFT	+ 0.67	META
MRK	+ 0.64	F
T	+ 0.54	UBER

High negative correlations

MRK	- 0.86	UBER
MRK	- 0.8	MSFT
XOM	- 0.66	UBER
T	- 0.65	F
XOM	- 0.63	MSFT
CRM	- 0.59	T

Innovator Equity Competition Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Equity 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 Equity'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	1.39	(0.21)	0.00	(0.18)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.89	(0.12)	0.00	(0.16)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.34)	0.00	(0.28)	0.00	0.00	2.60	(3.82)	10.51
F	1.47	0.09	0.06	0.11	1.67	(1.63)	3.38	(2.63)	16.30
T	0.95	(0.18)	0.00	(0.68)	0.00	0.00	1.61	(2.18)	5.75
A	1.21	0.10	0.07	0.14	1.22	(1.36)	2.34	(2.21)	11.03
CRM	1.50	0.08	0.04	0.13	1.88	(1.51)	3.66	(2.92)	9.91
JPM	1.06	(0.02)	(0.01)	0.03	1.44	(1.11)	2.00	(1.91)	7.02
MRK	1.42	0.43	0.32	0.55	0.97	(1.87)	4.85	(1.98)	11.45
XOM	0.90	0.08	0.04	0.39	0.87	(0.99)	1.96	(1.41)	4.99

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