Innovator Correlations

Etfs . USA . 
Etf . Innovator SP 500
BOCT Etf  USD 42.33  0.07  0.17%   
The current 90-days correlation between Innovator SP 500 and Innovator Equity Buffer is 0.99 (i.e., No risk reduction). 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 -0.15 (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 main economic indicators.

Moving together with Innovator Etf

  0.92BUFR First Trust CboePairCorr
  0.99BUFD FT Cboe VestPairCorr
  0.99PSEP Innovator SP 500PairCorr
  0.92PJAN Innovator SP 500PairCorr
  0.92PJUL Innovator SP 500PairCorr
  0.99PAUG Innovator Equity PowerPairCorr
  1.0DNOV FT Cboe VestPairCorr
  0.78PMAY Innovator SP 500PairCorr
  0.97PJUN Innovator SP 500PairCorr
  0.81HPQ HP IncPairCorr
  0.8BAC Bank of America Sell-off TrendPairCorr
  0.84AXP American Express Sell-off TrendPairCorr
  0.8DIS Walt DisneyPairCorr
  0.75BA BoeingPairCorr

Moving against Innovator Etf

  0.56TRV The Travelers CompaniesPairCorr
  0.38XPP ProShares Ultra FTSEPairCorr
  0.37BABX GraniteShares 175x LongPairCorr
  0.39VZ Verizon CommunicationsPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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