Innovator ETFs Correlations
| BOUT Etf | USD 37.07 0.73 2.01% |
The current 90-days correlation between Innovator ETFs Trust and Innovator IBD 50 is 0.9 (i.e., Almost no diversification). The correlation of Innovator ETFs 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 ETFs Correlation With Market
Very weak diversification
The correlation between Innovator ETFs Trust and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator ETFs Trust and DJI in the same portfolio, assuming nothing else is changed.
Innovator |
Moving together with Innovator Etf
| 0.9 | VOT | Vanguard Mid Cap | PairCorr |
| 0.92 | IWP | iShares Russell Mid | PairCorr |
| 0.92 | ARKK | ARK Innovation ETF | PairCorr |
| 0.97 | IJK | iShares SP Mid | PairCorr |
| 0.95 | JKH | iShares Morningstar Mid | PairCorr |
| 0.97 | KOMP | SPDR Kensho New | PairCorr |
| 0.97 | MDYG | SPDR SP 400 | PairCorr |
| 0.95 | IMCG | iShares Morningstar Mid | PairCorr |
| 0.79 | FPX | First Trust Equity | PairCorr |
| 0.97 | IVOG | Vanguard SP Mid | PairCorr |
| 0.89 | WGMI | Valkyrie Bitcoin Miners | PairCorr |
| 0.83 | AXP | American Express | PairCorr |
| 0.8 | AA | Alcoa Corp | PairCorr |
| 0.78 | MSFT | Microsoft | PairCorr |
| 0.77 | HPQ | HP Inc | PairCorr |
| 0.82 | BAC | Bank of America | PairCorr |
Moving against Innovator Etf
| 0.68 | AMPD | Tidal Trust II | PairCorr |
| 0.58 | IDOG | ALPS International Sector | PairCorr |
| 0.56 | JCHI | JP Morgan Exchange | PairCorr |
| 0.51 | PMBS | PIMCO Mortgage Backed | PairCorr |
| 0.48 | FXY | Invesco CurrencyShares | PairCorr |
| 0.42 | GLD | SPDR Gold Shares | PairCorr |
| 0.4 | INTF | iShares Edge MSCI | PairCorr |
| 0.64 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.52 | T | ATT Inc Earnings Call Next Week | PairCorr |
| 0.5 | TRV | The Travelers Companies | PairCorr |
| 0.43 | MCD | McDonalds | PairCorr |
| 0.31 | PG | Procter Gamble Sell-off Trend | PairCorr |
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
| High negative correlations
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Innovator ETFs Constituents Risk-Adjusted Indicators
There is a big difference between Innovator Etf performing well and Innovator ETFs 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 ETFs' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FFTY | 2.05 | (0.07) | 0.00 | (0.16) | 0.00 | 3.21 | 12.48 | |||
| MKTW | 4.40 | 0.57 | 0.12 | 0.47 | 4.19 | 7.89 | 38.02 | |||
| MLTX | 2.46 | (0.46) | 0.00 | (2.54) | 0.00 | 4.59 | 13.46 | |||
| STRM | 3.66 | 0.11 | 0.03 | 0.11 | 4.38 | 7.67 | 33.52 | |||
| TGLO | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |