Innovator Equity Correlations

BAUG Etf

USD 42.68 0.09 0.21%

The current 90-days correlation between Innovator Equity Buffer and Innovator Equity Buffer is 0.99 (i.e., No risk reduction). 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.

Innovator Equity Correlation With Market

Poor diversification

The correlation between Innovator Equity Buffer and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Equity Buffer 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 Equity Buffer. 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

1.0	BUFR	First Trust Cboe	Pair Corr
0.99	BUFD	FT Cboe Vest	Pair Corr
0.99	PSEP	Innovator SP 500	Pair Corr
0.95	PJAN	Innovator SP 500	Pair Corr
1.0	PJUL	Innovator SP 500	Pair Corr
0.99	PAUG	Innovator Equity Power	Pair Corr
1.0	DNOV	FT Cboe Vest	Pair Corr
0.88	PMAY	Innovator SP 500	Pair Corr
0.98	PJUN	Innovator SP 500	Pair Corr
0.68	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.87	BAC	Bank of America Sell-off Trend	Pair Corr
0.81	WMT	Walmart Aggressive Push	Pair Corr
0.87	HD	Home Depot	Pair Corr

Moving against Innovator Etf

0.52	AMPD	Tidal Trust II	Pair Corr
0.47	PMBS	PIMCO Mortgage Backed	Pair Corr
0.41	FXY	Invesco CurrencyShares	Pair Corr
0.57	TRV	The Travelers Companies	Pair Corr
0.48	VZ	Verizon Communications	Pair Corr
0.38	JNJ	Johnson Johnson	Pair Corr
0.34	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	BJUL	BOCT	BAPR	BJUN	BJAN
BJUL		1.0	1.0	0.99	0.96	BJUL
BOCT	1.0		1.0	0.99	0.96	BOCT
BAPR	1.0	1.0		0.99	0.96	BAPR
BJUN	0.99	0.99	0.99		0.97	BJUN
BJAN	0.96	0.96	0.96	0.97		BJAN
	BJUL	BOCT	BAPR	BJUN	BJAN

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
BJUL	0.56	(0.03)	(0.12)	0.95	(1.28)	3.62
BOCT	0.52	(0.02)	(0.11)	0.82	(1.25)	3.26
BAPR	0.62	(0.04)	(0.12)	1.02	(1.58)	3.92
BJUN	0.47	(0.02)	(0.10)	0.89	(1.12)	3.12
BJAN	0.48	0.00	(0.06)	0.96	(1.07)	3.30

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