Innovator ETFs Correlations
The current 90-days correlation between Innovator ETFs Trust and Innovator ETFs Trust is 0.73 (i.e., Poor 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
Weak diversification
The correlation between Innovator ETFs Trust and DJI is 0.34 (i.e., 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
| 0.85 | FXY | Invesco CurrencyShares | PairCorr |
| 0.77 | PMBS | PIMCO Mortgage Backed | PairCorr |
| 0.76 | IDOG | ALPS International Sector | PairCorr |
| 0.72 | JNJ | Johnson Johnson | PairCorr |
| 0.78 | T | ATT Inc | PairCorr |
| 0.65 | CSCO | Cisco Systems | PairCorr |
| 0.78 | VZ | Verizon Communications | PairCorr |
Moving against Innovator Etf
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 Competition 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| META | 1.58 | 0.09 | 0.00 | (0.04) | 0.00 | 2.49 | 8.65 | |||
| MSFT | 1.07 | (0.15) | 0.00 | (0.39) | 0.00 | 2.56 | 10.31 | |||
| UBER | 1.89 | 0.18 | 0.10 | 0.28 | 2.38 | 4.72 | 12.75 | |||
| F | 1.40 | 0.06 | 0.00 | (0.08) | 0.00 | 2.71 | 10.14 | |||
| T | 1.04 | 0.23 | 0.17 | 0.30 | 1.64 | 1.90 | 11.66 | |||
| A | 1.14 | (0.12) | 0.00 | (0.28) | 0.00 | 2.80 | 9.03 | |||
| CRM | 1.40 | (0.27) | 0.00 | (0.40) | 0.00 | 2.21 | 8.88 | |||
| JPM | 1.07 | 0.03 | 0.00 | (0.12) | 0.00 | 1.97 | 6.85 | |||
| MRK | 1.21 | (0.13) | 0.00 | 1.63 | 0.00 | 2.08 | 11.57 | |||
| XOM | 1.01 | (0.02) | 0.00 | (0.21) | 0.00 | 2.07 | 5.89 |
Innovator ETFs Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Innovator ETFs etf to make a market-neutral strategy. Peer analysis of Innovator ETFs could also be used in its relative valuation, which is a method of valuing Innovator ETFs by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |