Innovator IBD Correlations

FFTY Etf

USD 27.81 0.01 0.04%

The current 90-days correlation between Innovator IBD 50 and Innovator ETFs Trust is 0.01 (i.e., Significant diversification). The correlation of Innovator IBD 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 IBD Correlation With Market

Very weak diversification

The correlation between Innovator IBD 50 and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator IBD 50 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 IBD 50. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Innovator Etf

0.89	VOT	Vanguard Mid Cap	Pair Corr
0.92	IWP	iShares Russell Mid	Pair Corr
0.91	ARKK	ARK Innovation ETF	Pair Corr
0.81	IJK	iShares SP Mid	Pair Corr
0.88	JKH	iShares Morningstar Mid	Pair Corr
0.91	KOMP	SPDR Kensho New	Pair Corr
0.81	MDYG	SPDR SP 400	Pair Corr
0.88	IMCG	iShares Morningstar Mid	Pair Corr
0.95	FPX	First Trust Equity	Pair Corr
0.8	IVOG	Vanguard SP Mid	Pair Corr
0.91	MPAY	Akros Monthly Payout	Pair Corr
0.82	CPST	Calamos ETF Trust	Pair Corr
0.78	BA	Boeing	Pair Corr
0.72	WMT	Walmart Aggressive Push	Pair Corr
0.79	JPM	JPMorgan Chase	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.63	HD	Home Depot	Pair Corr
0.75	BAC	Bank of America Sell-off Trend	Pair Corr

Moving against Innovator Etf

0.67	BITI	ProShares Trust	Pair Corr
0.34	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.34	PULS	PGIM Ultra Short	Pair Corr
0.56	TRV	The Travelers Companies	Pair Corr
0.5	MRK	Merck Company	Pair Corr
0.46	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	BOUT	IGV	MTUM	IPO	IBUY
BOUT		0.86	0.72	0.98	0.69	BOUT
IGV	0.86		0.88	0.88	0.9	IGV
MTUM	0.72	0.88		0.74	0.94	MTUM
IPO	0.98	0.88	0.74		0.73	IPO
IBUY	0.69	0.9	0.94	0.73		IBUY
	BOUT	IGV	MTUM	IPO	IBUY

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Innovator IBD Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator IBD 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 IBD'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
BOUT	1.02	(0.14)	(1.64)	1.97	(2.39)	6.58
IGV	1.34	(0.09)	(0.14)	2.00	(3.32)	7.87
MTUM	1.12	0.03	(0.04)	1.85	(2.33)	5.98
IPO	1.65	(0.21)	3.53	2.35	(3.77)	8.44
IBUY	1.22	(0.03)	(0.10)	2.13	(2.94)	7.71

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