Innovator Correlations

BJAN Etf

USD 47.30 0.63 1.31%

The current 90-days correlation between Innovator SP 500 and Innovator Equity Buffer is 0.88 (i.e., Very poor diversification). 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.

Innovator Correlation With Market

Poor diversification

The correlation between Innovator SP 500 and DJI is 0.66 (i.e., Poor 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 nation.

Moving together with Innovator Etf

0.87	BUFR	First Trust Cboe	Pair Corr
0.89	BUFD	FT Cboe Vest	Pair Corr
0.83	PSEP	Innovator SP 500	Pair Corr
1.0	PJAN	Innovator SP 500	Pair Corr
0.74	PJUL	Innovator SP 500	Pair Corr
0.86	PAUG	Innovator Equity Power	Pair Corr
0.73	DNOV	FT Cboe Vest	Pair Corr
0.91	PMAY	Innovator SP 500	Pair Corr
0.92	PJUN	Innovator SP 500	Pair Corr
0.78	BCI	abrdn Bloomberg All	Pair Corr
0.82	FTGC	First Trust Global	Pair Corr
0.78	DBC	Invesco DB Commodity	Pair Corr
0.78	LUX	Tema ETF Trust	Pair Corr
0.65	FTSM	First Trust Enhanced	Pair Corr
0.68	RING	iShares MSCI Global	Pair Corr
0.68	BIL	SPDR Bloomberg 1	Pair Corr
0.64	EZU	iShares MSCI Eurozone Low Volatility	Pair Corr
0.68	PULS	PGIM Ultra Short	Pair Corr
0.7	GLD	SPDR Gold Shares	Pair Corr
0.78	COMB	GraniteShares Bloomberg	Pair Corr

Moving against Innovator Etf

0.59	SSG	ProShares UltraShort	Pair Corr
0.44	PSQ	ProShares Short QQQ	Pair Corr

Related Correlations Analysis

	BJUL	BOCT	BAPR	PJAN	UJAN
BJUL		1.0	1.0	0.72	0.72	BJUL
BOCT	1.0		0.99	0.71	0.71	BOCT
BAPR	1.0	0.99		0.77	0.77	BAPR
PJAN	0.72	0.71	0.77		1.0	PJAN
UJAN	0.72	0.71	0.77	1.0		UJAN
	BJUL	BOCT	BAPR	PJAN	UJAN

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Innovator Constituents 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BJUL	0.44	0.00	0.00	(0.06)	0.00	0.00	0.90	(1.11)	2.70
BOCT	0.41	0.00	0.00	(0.06)	0.00	0.00	0.81	(1.03)	2.65
BAPR	0.46	0.00	0.00	(0.06)	0.00	0.00	1.00	(1.20)	3.03
PJAN	0.26	0.02	0.16	0.00	0.41	(0.23)	0.61	(0.76)	1.86
UJAN	0.23	0.02	0.15	0.00	0.38	(0.20)	0.51	(0.61)	1.95

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