Innovator MSCI Correlations

EJUL Etf  USD 25.45  0.02  0.08%   
The current 90-days correlation between Innovator MSCI Emerging and Innovator MSCI EAFE is 0.59 (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

Significant diversification

The correlation between Innovator MSCI Emerging and DJI is 0.07 (i.e., Significant 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.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Innovator MSCI Emerging. 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

  0.63INOV Innovator ETFs TrustPairCorr
  0.67VTV Vanguard Value IndexPairCorr
  0.67VEA Vanguard FTSE DevelopedPairCorr
  0.67T ATT Inc Aggressive PushPairCorr
  0.78INTC Intel Downward RallyPairCorr
  0.63MCD McDonaldsPairCorr
  0.75DD Dupont De NemoursPairCorr
  0.74VZ Verizon Communications Aggressive PushPairCorr

Moving against Innovator Etf

  0.53MRK Merck Company Aggressive PushPairCorr
  0.38PFE Pfizer Inc Aggressive PushPairCorr
  0.32MSFT MicrosoftPairCorr

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   
JPMMETA
TMETA
XOMF
TUBER
JPMT
JPMUBER
  
High negative correlations   
MRKJPM
MRKT
MRKMETA
MRKUBER
FMETA
UBERMSFT

Innovator MSCI Competition 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.30  0.26  0.16  0.64  1.38 
 3.22 
 7.11 
MSFT  0.99 (0.06) 0.00 (0.23) 0.00 
 2.20 
 10.31 
UBER  1.88  0.15  0.05 (2.68) 2.72 
 4.72 
 12.29 
F  1.35 (0.21) 0.00 (0.27) 0.00 
 2.46 
 10.97 
T  0.92  0.24  0.21  0.47  0.95 
 1.80 
 7.94 
A  1.09  0.08  0.07  0.13  1.03 
 2.81 
 6.12 
CRM  1.43 (0.07) 0.00 (0.08) 0.00 
 3.10 
 15.92 
JPM  0.90  0.08  0.06  0.11  1.21 
 1.92 
 6.85 
MRK  1.22 (0.07) 0.00 (1.13) 0.00 
 2.43 
 11.57 
XOM  0.94 (0.13) 0.00 (0.24) 0.00 
 1.76 
 5.69