Innovator MSCI Correlations
| EJAN Etf | USD 30.55 0.07 0.23% |
The current 90-days correlation between Innovator MSCI Emerging and Innovator Nasdaq 100 Power is 0.55 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator MSCI moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator MSCI Emerging moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Innovator MSCI Correlation With Market
Weak diversification
The correlation between Innovator MSCI Emerging and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator MSCI Emerging and DJI in the same portfolio, assuming nothing else is changed.
Innovator |
Moving together with Innovator Etf
| 0.81 | INOV | Innovator ETFs Trust | PairCorr |
| 0.78 | FXY | Invesco CurrencyShares | PairCorr |
| 0.76 | PMBS | PIMCO Mortgage Backed | PairCorr |
| 0.79 | KO | Coca Cola | PairCorr |
| 0.62 | DD | Dupont De Nemours | PairCorr |
| 0.62 | PG | Procter Gamble | PairCorr |
| 0.74 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.76 | VZ | Verizon Communications | PairCorr |
| 0.7 | IBM | International Business | PairCorr |
| 0.73 | INTC | Intel Sell-off Trend | PairCorr |
Moving against Innovator Etf
| 0.57 | MRK | Merck Company | PairCorr |
| 0.52 | WGMI | Valkyrie Bitcoin Miners | PairCorr |
| 0.55 | CAT | Caterpillar | PairCorr |
| 0.5 | MSFT | Microsoft Aggressive Push | PairCorr |
| 0.44 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.43 | HD | Home Depot | PairCorr |
| 0.38 | AA | Alcoa Corp | PairCorr |
Related Correlations Analysis
| 0.83 | -0.28 | 0.89 | -0.18 | NJAN | ||
| 0.83 | -0.52 | 0.81 | -0.41 | KJAN | ||
| -0.28 | -0.52 | -0.31 | 0.91 | IJAN | ||
| 0.89 | 0.81 | -0.31 | -0.22 | NOCT | ||
| -0.18 | -0.41 | 0.91 | -0.22 | EJUL | ||
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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 MSCI Constituents Risk-Adjusted Indicators
There is a big difference between Innovator Etf performing well and Innovator MSCI 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 MSCI'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NJAN | 0.48 | 0.00 | 0.00 | (0.04) | 0.00 | 0.94 | 3.11 | |||
| KJAN | 0.58 | (0.09) | 0.00 | (0.19) | 0.00 | 1.04 | 3.62 | |||
| IJAN | 0.43 | 0.06 | 0.12 | 0.16 | 0.59 | 0.79 | 2.72 | |||
| NOCT | 0.47 | (0.06) | 0.00 | 0.49 | 0.00 | 0.72 | 3.16 | |||
| EJUL | 0.48 | 0.04 | 0.10 | 0.12 | 0.58 | 1.01 | 3.60 |