Innovator Uncapped Correlations

XUSP Etf

USD 47.22 0.05 0.11%

The current 90-days correlation between Innovator Uncapped and AIM ETF Products is 0.95 (i.e., Almost no diversification). The correlation of Innovator Uncapped 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 Uncapped Correlation With Market

Poor diversification

The correlation between Innovator Uncapped Accelerated and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Uncapped Accelerated 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, which includes a position in Innovator Uncapped 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 producer price index.

Moving together with Innovator Etf

1.0	SSO	ProShares Ultra SP500	Pair Corr
1.0	SPXL	Direxion Daily SP500	Pair Corr
0.81	QLD	ProShares Ultra QQQ	Pair Corr
1.0	UPRO	ProShares UltraPro SP500	Pair Corr
0.64	LABU	Direxion Daily SP	Pair Corr
0.76	ITWO	Proshares Russell 2000	Pair Corr
0.79	CPST	Calamos ETF Trust	Pair Corr
0.7	DBA	Invesco DB Agriculture	Pair Corr
0.78	IQSZ	Invesco Actively Managed	Pair Corr
0.73	FPXE	First Trust IPOX	Pair Corr
0.81	JANW	AIM ETF Products	Pair Corr
0.79	TLCI	Touchstone ETF Trust	Pair Corr
0.68	WDNA	WisdomTree BioRevolution	Pair Corr
0.69	NULV	Nuveen ESG Large	Pair Corr
0.71	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.68	PFFA	Virtus InfraCap Preferred	Pair Corr
0.67	EURL	Direxion Daily FTSE	Pair Corr

Moving against Innovator Etf

0.62	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.46	MPAY	Exchange Traded Concepts	Pair Corr
0.31	XLU	Utilities Select Sector Aggressive Push	Pair Corr

Related Correlations Analysis

	PSFD	HQGO	DEMZ	PEZ	PSR	FMET	FTWO	AHLT	KDEF	SIXF
PSFD		0.76	0.87	0.89	0.38	0.06	0.85	0.91	0.82	0.97	PSFD
HQGO	0.76		0.87	0.73	0.0	0.57	0.41	0.52	0.37	0.68	HQGO
DEMZ	0.87	0.87		0.79	0.16	0.45	0.67	0.76	0.67	0.81	DEMZ
PEZ	0.89	0.73	0.79		0.23	0.15	0.67	0.73	0.64	0.85	PEZ
PSR	0.38	0.0	0.16	0.23		-0.57	0.7	0.57	0.6	0.49	PSR
FMET	0.06	0.57	0.45	0.15	-0.57		-0.31	-0.19	-0.27	-0.09	FMET
FTWO	0.85	0.41	0.67	0.67	0.7	-0.31		0.97	0.96	0.9	FTWO
AHLT	0.91	0.52	0.76	0.73	0.57	-0.19	0.97		0.95	0.94	AHLT
KDEF	0.82	0.37	0.67	0.64	0.6	-0.27	0.96	0.95		0.86	KDEF
SIXF	0.97	0.68	0.81	0.85	0.49	-0.09	0.9	0.94	0.86		SIXF
	PSFD	HQGO	DEMZ	PEZ	PSR	FMET	FTWO	AHLT	KDEF	SIXF

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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

SIXF	+ 0.97	PSFD
AHLT	+ 0.97	FTWO
KDEF	+ 0.96	FTWO
KDEF	+ 0.95	AHLT
SIXF	+ 0.94	AHLT
AHLT	+ 0.91	PSFD

High negative correlations

FMET	- 0.57	PSR
FTWO	- 0.31	FMET
KDEF	- 0.27	FMET
AHLT	- 0.19	FMET
SIXF	- 0.09	FMET
PSR	- 0.0	HQGO

Innovator Uncapped Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Uncapped 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 Uncapped'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
PSFD	0.27	0.00	(0.09)	0.05	0.36	(0.29)	0.58	(0.72)	2.31
HQGO	0.66	(0.09)	0.00	(0.04)	0.00	0.00	1.26	(1.69)	4.24
DEMZ	0.69	(0.06)	0.00	(0.02)	0.00	0.00	1.39	(1.60)	3.98
PEZ	0.99	0.04	0.05	0.09	0.87	(1.24)	2.45	(1.78)	5.14
PSR	0.57	0.08	0.05	0.27	0.67	(0.56)	1.49	(1.27)	3.05
FMET	0.84	(0.22)	0.00	(0.18)	0.00	0.00	1.34	(2.56)	4.81
FTWO	1.04	0.19	0.14	0.28	1.15	(1.16)	2.24	(2.30)	5.83
AHLT	1.04	0.13	0.08	0.18	1.43	(1.03)	1.87	(2.42)	7.05
KDEF	2.09	0.47	0.20	0.69	1.88	(2.34)	4.44	(3.09)	11.83
SIXF	0.23	0.00	(0.09)	0.07	0.30	(0.22)	0.42	(0.62)	1.83

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