Innovator Sp 500 Etf Market Value
| BJUN Etf | USD 41.74 0.11 0.26% |
| Symbol | Innovator |
The market value of Innovator SP 500 is measured differently than its book value, which is the value of Innovator that is recorded on the company's balance sheet. Investors also form their own opinion of Innovator's value that differs from its market value or its book value, called intrinsic value, which is Innovator's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Innovator's market value can be influenced by many factors that don't directly affect Innovator's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Innovator's value and its price as these two are different measures arrived at by different means. Investors typically determine if Innovator is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Innovator's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Innovator 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Innovator's etf what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Innovator.
| 12/07/2022 |
| 11/26/2024 |
If you would invest 0.00 in Innovator on December 7, 2022 and sell it all today you would earn a total of 0.00 from holding Innovator SP 500 or generate 0.0% return on investment in Innovator over 720 days. Innovator is related to or competes with Innovator, Innovator Equity, Innovator, Innovator Equity, and Innovator. The fund invests at least 80 percent of its net assets in FLexible EXchange Options that reference the SPDR SP 500 ETF T... More
Innovator Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Innovator's etf current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Innovator SP 500 upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5224 | |||
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 2.33 | |||
| Value At Risk | (0.67) | |||
| Potential Upside | 0.7943 |
Innovator Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Innovator's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Innovator's standard deviation. In reality, there are many statistical measures that can use Innovator historical prices to predict the future Innovator's volatility.| Risk Adjusted Performance | 0.1148 | |||
| Jensen Alpha | 0.003 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.11) | |||
| Treynor Ratio | 0.1268 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Innovator's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Innovator SP 500 Backtested Returns
As of now, Innovator Etf is very steady. Innovator SP 500 holds Efficiency (Sharpe) Ratio of 0.15, which attests that the entity had a 0.15% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Innovator SP 500, which you can use to evaluate the volatility of the entity. Please check out Innovator's Downside Deviation of 0.5224, market risk adjusted performance of 0.1368, and Risk Adjusted Performance of 0.1148 to validate if the risk estimate we provide is consistent with the expected return of 0.0719%. The etf retains a Market Volatility (i.e., Beta) of 0.5, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Innovator's returns are expected to increase less than the market. However, during the bear market, the loss of holding Innovator is expected to be smaller as well.
Auto-correlation | 0.81 |
Very good predictability
Innovator SP 500 has very good predictability. Overlapping area represents the amount of predictability between Innovator time series from 7th of December 2022 to 2nd of December 2023 and 2nd of December 2023 to 26th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Innovator SP 500 price movement. The serial correlation of 0.81 indicates that around 81.0% of current Innovator price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.81 | |
| Spearman Rank Test | 0.82 | |
| Residual Average | 0.0 | |
| Price Variance | 3.37 |
Innovator SP 500 lagged returns against current returns
Autocorrelation, which is Innovator etf's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Innovator's etf expected returns. We can calculate the autocorrelation of Innovator returns to help us make a trade decision. For example, suppose you find that Innovator has exhibited high autocorrelation historically, and you observe that the etf is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Innovator regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Innovator etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Innovator etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Innovator etf over time.
Current vs Lagged Prices |
| Timeline |
Innovator Lagged Returns
When evaluating Innovator's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Innovator etf have on its future price. Innovator autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Innovator autocorrelation shows the relationship between Innovator etf current value and its past values and can show if there is a momentum factor associated with investing in Innovator SP 500.
Regressed Prices |
| Timeline |
Pair Trading with Innovator
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Innovator position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Innovator will appreciate offsetting losses from the drop in the long position's value.Moving together with Innovator Etf
| 1.0 | BUFR | First Trust Cboe | PairCorr |
| 0.99 | BUFD | FT Cboe Vest | PairCorr |
| 1.0 | PSEP | Innovator SP 500 | PairCorr |
| 0.99 | PJAN | Innovator SP 500 | PairCorr |
The ability to find closely correlated positions to Innovator could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Innovator when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Innovator - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Innovator SP 500 to buy it.
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator SP 500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Innovator can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Innovator Correlation, Innovator Volatility and Innovator Alpha and Beta module to complement your research on Innovator. You can also try the Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Innovator technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.