Innovator Equity Correlations

XBAP Etf

USD 34.37 0.04 0.12%

The current 90-days correlation between Innovator Equity Acc and Innovator Equity Accelerated is 0.96 (i.e., Almost no 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

Modest diversification

The correlation between Innovator Equity Accelerated and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Equity Accelerated and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Innovator Equity Accelerated. 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

0.96	BUFR	First Trust Cboe	Pair Corr
0.95	BUFD	FT Cboe Vest	Pair Corr
0.93	PSEP	Innovator SP 500	Pair Corr
0.94	PJAN	Innovator SP 500	Pair Corr
0.94	PJUL	Innovator SP 500	Pair Corr
0.94	PAUG	Innovator Equity Power	Pair Corr
0.83	DNOV	FT Cboe Vest	Pair Corr
1.0	PMAY	Innovator SP 500	Pair Corr
0.98	PJUN	Innovator SP 500	Pair Corr
0.92	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.87	FNGU	MicroSectors FANG Index	Pair Corr
0.87	FNGO	MicroSectors FANG Index	Pair Corr
0.88	FNGS	MicroSectors FANG ETN	Pair Corr
0.9	PTNQ	Pacer Trendpilot 100	Pair Corr
0.83	XONE	Bondbloxx Bloomberg One	Pair Corr
0.93	SPYG	SPDR Portfolio SP	Pair Corr
0.87	TFLO	iShares Treasury Floating	Pair Corr
0.87	XDEC	First Trust Exchange	Pair Corr
0.89	ETH	Grayscale Ethereum Mini Buyout Trend	Pair Corr
0.9	TSLY	Tidal Trust II	Pair Corr
0.89	BRLN	Blackrock ETF Trust	Pair Corr
0.83	NFLY	Tidal Trust II	Pair Corr
0.89	JAAA	Janus Detroit Street	Pair Corr
0.85	QYLD	Global X NASDAQ	Pair Corr
0.82	UMI	USCF Midstream Energy	Pair Corr
0.94	XCCC	BondBloxx ETF Trust	Pair Corr
0.89	BITX	Volatility Shares Trust Buyout Trend	Pair Corr
0.83	Z	Zillow Group Class	Pair Corr
0.64	IVES	Amplify ETF Trust Symbol Change	Pair Corr
0.91	YMAG	YieldMax Magnificent	Pair Corr
0.86	BILS	SPDR Series Trust	Pair Corr
0.92	BTC	Grayscale Bitcoin Mini	Pair Corr

Moving against Innovator Etf

0.61	URNM	Sprott Uranium Miners	Pair Corr
0.57	INOV	Innovator ETFs Trust	Pair Corr

Related Correlations Analysis

	XDAP	XTAP	XDQQ	XDSQ	QTAP
XDAP		1.0	0.93	0.99	0.98	XDAP
XTAP	1.0		0.94	0.98	0.98	XTAP
XDQQ	0.93	0.94		0.89	0.97	XDQQ
XDSQ	0.99	0.98	0.89		0.96	XDSQ
QTAP	0.98	0.98	0.97	0.96		QTAP
	XDAP	XTAP	XDQQ	XDSQ	QTAP

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Innovator Equity Constituents 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
XDAP	0.27	0.04	0.05	0.27	0.34	(0.28)	0.75	(0.65)	2.61
XTAP	0.23	0.04	0.05	0.29	0.27	(0.23)	0.58	(0.53)	2.24
XDQQ	0.56	0.13	0.13	0.56	0.64	(0.63)	1.28	(1.47)	4.29
XDSQ	0.45	0.06	0.05	0.22	0.67	(0.45)	1.13	(0.99)	4.63
QTAP	0.37	0.06	0.08	0.45	0.43	(0.39)	0.71	(0.96)	2.84

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