Innovator Correlations

Etfs . USA . 
Etf . Innovator SP 500
UMAR Etf  USD 35.78  0.04  0.11%   
The current 90-days correlation between Innovator SP 500 and Innovator SP 500 is 0.96 (i.e., Almost no diversification). The correlation of Innovator 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 Correlation With Market

Very poor diversification

The correlation between Innovator SP 500 and DJI is 0.81 (i.e., Very poor 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 World Market Map 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

  1.0BUFR First Trust CboePairCorr
  0.99BUFD FT Cboe VestPairCorr
  1.0PSEP Innovator SP 500PairCorr
  0.99PJAN Innovator SP 500PairCorr
  1.0PJUL Innovator SP 500PairCorr
  1.0PAUG Innovator Equity PowerPairCorr
  0.95DNOV FT Cboe VestPairCorr
  1.0PMAY Innovator SP 500PairCorr
  1.0PJUN Innovator SP 500PairCorr
  0.91DSJA DSJAPairCorr
  0.87RSPY Tuttle Capital ManagementPairCorr
  0.84MEME Roundhill InvestmentsPairCorr
  0.85ITDD iShares TrustPairCorr
  0.87BAC Bank of America Aggressive PushPairCorr
  0.79HPQ HP IncPairCorr
  0.86WMT Walmart Aggressive PushPairCorr
  0.9CVX Chevron Corp Sell-off TrendPairCorr
  0.65XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr
  0.8JPM JPMorgan Chase Sell-off TrendPairCorr
  0.95AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.8T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr

Moving against Innovator Etf

  0.84MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.81JNJ Johnson Johnson Sell-off TrendPairCorr
  0.79KO Coca Cola Aggressive PushPairCorr
  0.69BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.67PFE Pfizer Inc Aggressive PushPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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