Innovator Correlations

BAPR Etf  USD 42.55  0.47  1.09%   
The current 90-days correlation between Innovator SP 500 and Innovator SP 500 is -0.13 (i.e., Good 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

Good diversification

The correlation between Innovator SP 500 and DJI is -0.03 (i.e., Good 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 Trending Equities 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 american community survey.

Moving together with Innovator Etf

  0.79BUFR First Trust CboePairCorr
  0.8BUFD FT Cboe VestPairCorr
  0.77PSEP Innovator SP 500PairCorr
  0.87PJAN Innovator SP 500PairCorr
  0.77PJUL Innovator SP 500PairCorr
  0.77PAUG Innovator Equity PowerPairCorr
  0.74DNOV FT Cboe VestPairCorr
  0.76PMAY Innovator SP 500PairCorr
  0.79PJUN Innovator SP 500PairCorr
  0.63UPRO ProShares UltraPro SP500PairCorr
  0.86QTJA Innovator ETFs TrustPairCorr
  0.77QTOC Innovator ETFs TrustPairCorr
  0.77XTOC Innovator ETFs TrustPairCorr
  0.74QTAP Innovator Growth 100PairCorr
  0.87XTJA Innovator ETFs TrustPairCorr
  0.67XTAP Innovator Equity AccPairCorr

Moving against Innovator Etf

  0.61LBAY Tidal ETF TrustPairCorr
  0.46UBND Victory PortfoliosPairCorr
  0.4IUSB iShares Core TotalPairCorr
  0.4STOT SPDR DoubleLine ShortPairCorr
  0.31EFNL iShares MSCI FinlandPairCorr
  0.31SCHO Schwab Short TermPairCorr
  0.57JUNE Junee Limited Ordinary TrendingPairCorr
  0.46HCRB Hartford Core BondPairCorr
  0.42UNL United States 12PairCorr
  0.41MNA IQ Merger ArbitragePairCorr
  0.39USTB VictoryShares USAA CorePairCorr
  0.31FIVA Fidelity InternationalPairCorr

Related Correlations Analysis

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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   
JPMMETA
CRMMSFT
TUBER
CRMA
UBERMETA
AMSFT
  
High negative correlations   
MRKUBER
MRKMETA
TMSFT
MRKT
CRMT
MRKJPM

Innovator Competition 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.57  0.08  0.00 (0.01) 0.00 
 2.57 
 8.90 
MSFT  1.10 (0.14) 0.00 (0.31) 0.00 
 2.58 
 10.31 
UBER  1.93  0.23  0.10  0.33  2.40 
 4.72 
 12.75 
F  1.44  0.06  0.00 (0.04) 0.00 
 2.71 
 10.14 
T  1.04  0.28  0.18  0.42  1.60 
 1.90 
 11.66 
A  1.14 (0.15) 0.00 (0.25) 0.00 
 2.92 
 9.03 
CRM  1.42 (0.23) 0.00 (0.30) 0.00 
 2.72 
 8.88 
JPM  1.09  0.05  0.00 (0.05) 0.00 
 1.99 
 6.85 
MRK  1.21 (0.11) 0.00  2.40  0.00 
 2.07 
 11.58 
XOM  1.05  0.06  0.08  0.06  1.38 
 2.55 
 5.89