Innovator Equity Correlations

BJUL Etf

USD 43.99 0.58 1.30%

The current 90-days correlation between Innovator Equity Buffer and Innovator SP 500 is 0.88 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator Equity moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator Equity Buffer moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Equity Correlation With Market

Poor diversification

The correlation between Innovator Equity Buffer and DJI is 0.61 (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

0.97	BUFR	First Trust Cboe	Pair Corr
0.94	BUFD	FT Cboe Vest	Pair Corr
0.97	PSEP	Innovator SP 500	Pair Corr
0.72	PJAN	Innovator SP 500	Pair Corr
0.81	PJUL	Innovator SP 500	Pair Corr
0.97	PAUG	Innovator Equity Power	Pair Corr
1.0	DNOV	FT Cboe Vest	Pair Corr
0.74	PMAY	Innovator SP 500	Pair Corr
0.9	PJUN	Innovator SP 500	Pair Corr
0.83	ITDD	iShares Trust	Pair Corr

Moving against Innovator Etf

0.58	HDGE	AdvisorShares Ranger	Pair Corr
0.53	SSG	ProShares UltraShort	Pair Corr
0.79	PSQ	ProShares Short QQQ	Pair Corr

Related Correlations Analysis

	BJAN	BOCT	PJUL	BAPR	UJUL
BJAN		0.73	0.74	0.79	0.81	BJAN
BOCT	0.73		0.81	0.99	0.99	BOCT
PJUL	0.74	0.81		0.83	0.83	PJUL
BAPR	0.79	0.99	0.83		1.0	BAPR
UJUL	0.81	0.99	0.83	1.0		UJUL
	BJAN	BOCT	PJUL	BAPR	UJUL

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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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BJAN	0.33	0.03	0.12	0.01	0.51	(0.32)	0.88	(0.93)	2.60
BOCT	0.41	0.00	0.00	(0.06)	0.00	0.00	0.81	(1.03)	2.65
PJUL	0.32	(0.03)	0.00	0.21	0.00	0.00	0.61	(0.74)	2.02
BAPR	0.46	0.00	0.00	(0.06)	0.00	0.00	1.00	(1.20)	3.03
UJUL	0.35	0.01	0.00	(0.05)	0.00	0.00	0.73	(0.90)	2.28

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