Innovator Long Correlations

Etfs . USA . 
Etf . Innovator Long Term
TFJL Etf  USD 19.95  0.06  0.30%   
The current 90-days correlation between Innovator Long Term and First Trust Cboe is 0.06 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator Long moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator Long Term moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Long Correlation With Market

Very good diversification

The correlation between Innovator Long Term and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Long Term and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Innovator Long Term. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Innovator Etf

  0.9MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.63PG Procter GamblePairCorr
  0.68PFE Pfizer Inc Aggressive PushPairCorr

Moving against Innovator Etf

  0.84USD ProShares Ultra SemiPairCorr
  0.82PJAN Innovator SP 500PairCorr
  0.82QLD ProShares Ultra QQQPairCorr
  0.81FNGO MicroSectors FANG IndexPairCorr
  0.81FNGS MicroSectors FANG ETNPairCorr
  0.8BUFD FT Cboe VestPairCorr
  0.8DNOV FT Cboe VestPairCorr
  0.8FNGU MicroSectors FANG IndexPairCorr
  0.79BUFR First Trust CboePairCorr
  0.79PMAY Innovator SP 500PairCorr
  0.79PJUN Innovator SP 500PairCorr
  0.78PSEP Innovator SP 500PairCorr
  0.78PAUG Innovator Equity PowerPairCorr
  0.77PJUL Innovator SP 500PairCorr
  0.76TECL Direxion Daily TechnologyPairCorr
  0.73ROM ProShares Ultra TechPairCorr
  0.71GBTC Grayscale Bitcoin TrustPairCorr
  0.63SMH VanEck Semiconductor ETFPairCorr
  0.92CSCO Cisco Systems Aggressive PushPairCorr
  0.87HPQ HP IncPairCorr
  0.87AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.83JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.8AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.76INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.75XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.74CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.72DIS Walt DisneyPairCorr
  0.68TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.65HD Home DepotPairCorr

Related Correlations Analysis

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Innovator Long Constituents Risk-Adjusted Indicators

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