Innovator Capital Correlations

XDOC Etf

USD 33.47 0.00 0.00%

The correlation of Innovator Capital 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.

Innovator Capital Correlation With Market

Poor diversification

The correlation between Innovator Capital Management and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Capital Management and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Innovator Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Innovator Etf

0.78	INOV	Innovator ETFs Trust	Pair Corr
0.86	BUFR	First Trust Cboe	Pair Corr
0.87	BUFD	FT Cboe Vest	Pair Corr
0.85	PSEP	Innovator SP 500	Pair Corr
0.9	PJAN	Innovator SP 500	Pair Corr
0.87	PJUL	Innovator SP 500	Pair Corr
0.86	PAUG	Innovator Equity Power	Pair Corr
0.87	DNOV	FT Cboe Vest	Pair Corr
0.89	PMAY	Innovator SP 500	Pair Corr
0.85	ACII	Innovator ETFs Trust	Pair Corr
0.8	MUU	Direxion Daily MU	Pair Corr
0.79	MULL	GraniteShares 2x Long	Pair Corr
0.8	AGQ	ProShares Ultra Silver	Pair Corr
0.87	JNUG	Direxion Daily Junior	Pair Corr
0.84	GDXU	MicroSectors Gold Miners	Pair Corr
0.7	KORU	Direxion Daily South	Pair Corr
0.87	NUGT	Direxion Daily Gold	Pair Corr
0.77	SHNY	Microsectors Gold	Pair Corr
0.9	SIL	Global X Silver	Pair Corr
0.9	SIVR	abrdn Physical Silver	Pair Corr
0.91	AA	Alcoa Corp	Pair Corr
0.88	BA	Boeing	Pair Corr
0.64	INTC	Intel	Pair Corr
0.71	WMT	Walmart Common Stock Earnings Call This Week	Pair Corr

Moving against Innovator Etf

0.77	HPQ	HP Inc	Pair Corr
0.55	MSFT	Microsoft	Pair Corr
0.46	MMM	3M Company	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.45	-0.5	0.46	0.12	-0.56	-0.11	0.33	0.51	0.46	META
MSFT	-0.45		0.78	-0.5	-0.56	0.69	0.79	0.03	-0.83	-0.9	MSFT
UBER	-0.5	0.78		-0.43	-0.36	0.76	0.49	-0.13	-0.79	-0.73	UBER
F	0.46	-0.5	-0.43		-0.1	-0.38	-0.19	0.35	0.65	0.58	F
T	0.12	-0.56	-0.36	-0.1		-0.27	-0.68	-0.08	0.3	0.46	T
A	-0.56	0.69	0.76	-0.38	-0.27		0.44	-0.07	-0.6	-0.76	A
CRM	-0.11	0.79	0.49	-0.19	-0.68	0.44		0.43	-0.51	-0.8	CRM
JPM	0.33	0.03	-0.13	0.35	-0.08	-0.07	0.43		0.24	-0.05	JPM
MRK	0.51	-0.83	-0.79	0.65	0.3	-0.6	-0.51	0.24		0.8	MRK
XOM	0.46	-0.9	-0.73	0.58	0.46	-0.76	-0.8	-0.05	0.8		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

XOM	+ 0.8	MRK
CRM	+ 0.79	MSFT
UBER	+ 0.78	MSFT
A	+ 0.76	UBER
A	+ 0.69	MSFT
MRK	+ 0.65	F

High negative correlations

XOM	- 0.9	MSFT
MRK	- 0.83	MSFT
XOM	- 0.8	CRM
MRK	- 0.79	UBER
XOM	- 0.76	A
XOM	- 0.73	UBER

Innovator Capital Competition Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Capital 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 Capital'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	1.52	0.04	0.01	0.13	1.51	(1.82)	3.43	(2.82)	13.69
MSFT	1.34	(0.34)	0.00	(0.77)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.51	(0.41)	0.00	(0.71)	0.00	0.00	2.41	(3.82)	11.09
F	1.19	0.03	0.01	0.11	1.20	(1.46)	3.38	(2.35)	7.16
T	1.00	0.23	0.16	(9.07)	0.77	(1.17)	3.87	(1.54)	5.31
A	1.25	(0.33)	0.00	(0.18)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.66	(0.44)	0.00	(0.38)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.27	(0.15)	0.00	(0.03)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.33	0.46	0.33	0.76	0.98	(1.68)	3.59	(1.98)	8.74
XOM	1.24	0.38	0.22	1.59	1.14	(1.43)	2.68	(2.12)	5.85

Innovator Capital Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Innovator Capital etf to make a market-neutral strategy. Peer analysis of Innovator Capital could also be used in its relative valuation, which is a method of valuing Innovator Capital by comparing valuation metrics with similar companies.

TSJA Exchange Traded Concepts Global X YUMY Innovator Capital Management VCLO IShares RTYD Tidal Investments Roundhill Investments American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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