Innovator Correlations

UNOV Etf

USD 34.96 0.10 0.29%

The current 90-days correlation between Innovator SP 500 and Innovator SP 500 is 0.87 (i.e., Very poor 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 weak diversification

The correlation between Innovator SP 500 and DJI is 0.46 (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 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 persons.

Moving together with Innovator Etf

0.95	BUFR	First Trust Cboe	Pair Corr
0.94	BUFD	FT Cboe Vest	Pair Corr
0.94	PSEP	Innovator SP 500	Pair Corr
0.83	PJAN	Innovator SP 500	Pair Corr
0.93	PJUL	Innovator SP 500	Pair Corr
0.93	PAUG	Innovator Equity Power	Pair Corr
0.88	DNOV	FT Cboe Vest	Pair Corr
0.93	PMAY	Innovator SP 500	Pair Corr
0.95	PJUN	Innovator SP 500	Pair Corr
0.9	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.81	FNGU	MicroSectors FANG Index	Pair Corr
0.81	FNGO	MicroSectors FANG Index	Pair Corr
0.81	FNGS	MicroSectors FANG ETN	Pair Corr
0.87	QLD	ProShares Ultra QQQ	Pair Corr
0.84	DIS	Walt Disney	Pair Corr
0.84	BAC	Bank of America Sell-off Trend	Pair Corr
0.76	T	ATT Inc Earnings Call This Week	Pair Corr
0.88	CSCO	Cisco Systems Aggressive Push	Pair Corr

Moving against Innovator Etf

0.54	URNM	Sprott Uranium Miners	Pair Corr
0.47	INOV	Innovator ETFs Trust	Pair Corr
0.8	PFE	Pfizer Inc Earnings Call Next Week	Pair Corr
0.63	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.4	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.4	GE	GE Aerospace Earnings Call Tomorrow	Pair Corr
0.38	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.34	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	UJUL	UOCT	UJUN	USEP	UDEC
UJUL		1.0	0.99	1.0	0.72	UJUL
UOCT	1.0		0.98	1.0	0.72	UOCT
UJUN	0.99	0.98		0.99	0.64	UJUN
USEP	1.0	1.0	0.99		0.71	USEP
UDEC	0.72	0.72	0.64	0.71		UDEC
	UJUL	UOCT	UJUN	USEP	UDEC

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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
UJUL	0.29	0.02	0.01	0.14	0.40	(0.29)	0.62	(0.64)	2.61
UOCT	0.24	0.01	(0.01)	0.10	0.36	(0.23)	0.56	(0.65)	2.24
UJUN	0.24	0.02	0.01	0.17	0.28	(0.25)	0.59	(0.50)	2.08
USEP	0.25	0.02	0.00	0.13	0.35	(0.26)	0.57	(0.57)	2.41
UDEC	0.19	0.00	(0.03)	0.04	0.39	(0.18)	0.46	(0.62)	1.83

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