Innovator ETFs Correlations

IOCT Etf

USD 29.45 0.07 0.24%

The current 90-days correlation between Innovator ETFs Trust and Innovator ETFs Trust is 0.87 (i.e., Very 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

Significant diversification

The correlation between Innovator ETFs Trust and DJI is 0.05 (i.e., Significant 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.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Innovator ETFs Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Innovator Etf

0.94	INOV	Innovator ETFs Trust	Pair Corr
0.63	PMBS	PIMCO Mortgage Backed	Pair Corr
0.84	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.88	YCL	ProShares Ultra Yen	Pair Corr
0.76	VIIX	VIIX	Pair Corr
0.86	FXY	Invesco CurrencyShares	Pair Corr
0.87	ULE	ProShares Ultra Euro	Pair Corr
0.73	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.62	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.72	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.78	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr

Moving against Innovator Etf

0.78	PJAN	Innovator SP 500	Pair Corr
0.78	TSJA	TSJA	Pair Corr
0.71	PMAY	Innovator SP 500	Pair Corr
0.63	PJUN	Innovator SP 500	Pair Corr
0.62	BUFD	FT Cboe Vest	Pair Corr
0.6	BUFR	First Trust Cboe	Pair Corr
0.57	PSEP	Innovator SP 500	Pair Corr
0.56	PJUL	Innovator SP 500	Pair Corr
0.56	PAUG	Innovator Equity Power	Pair Corr
0.53	DNOV	FT Cboe Vest	Pair Corr
0.52	SIXD	AIM ETF Products	Pair Corr
0.8	DSJA	DSJA	Pair Corr
0.73	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.73	DIS	Walt Disney	Pair Corr
0.72	CSCO	Cisco Systems	Pair Corr
0.64	WMT	Walmart Aggressive Push	Pair Corr
0.64	BAC	Bank of America Earnings Call This Week	Pair Corr
0.58	T	ATT Inc Sell-off Trend	Pair Corr
0.4	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	INOV	BUFR	BUFD	PSEP	PJAN	PJUL	PAUG	DNOV	PMAY	PJUN
INOV		-0.5	-0.52	-0.46	-0.73	-0.45	-0.46	-0.41	-0.62	-0.53	INOV
BUFR	-0.5		0.99	1.0	0.9	0.99	1.0	0.88	0.94	1.0	BUFR
BUFD	-0.52	0.99		0.99	0.9	0.99	0.99	0.87	0.93	0.99	BUFD
PSEP	-0.46	1.0	0.99		0.87	1.0	1.0	0.86	0.92	0.99	PSEP
PJAN	-0.73	0.9	0.9	0.87		0.87	0.88	0.81	0.94	0.92	PJAN
PJUL	-0.45	0.99	0.99	1.0	0.87		1.0	0.87	0.92	0.99	PJUL
PAUG	-0.46	1.0	0.99	1.0	0.88	1.0		0.87	0.92	0.99	PAUG
DNOV	-0.41	0.88	0.87	0.86	0.81	0.87	0.87		0.91	0.88	DNOV
PMAY	-0.62	0.94	0.93	0.92	0.94	0.92	0.92	0.91		0.95	PMAY
PJUN	-0.53	1.0	0.99	0.99	0.92	0.99	0.99	0.88	0.95		PJUN
	INOV	BUFR	BUFD	PSEP	PJAN	PJUL	PAUG	DNOV	PMAY	PJUN

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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

PSEP	+ 1.0	BUFR
PAUG	+ 1.0	BUFR
PJUN	+ 1.0	BUFR
PJUL	+ 1.0	PSEP
PAUG	+ 1.0	PSEP
PAUG	+ 1.0	PJUL

High negative correlations

PJAN	- 0.73	INOV
PMAY	- 0.62	INOV
PJUN	- 0.53	INOV
BUFD	- 0.52	INOV
BUFR	- 0.5	INOV
PAUG	- 0.46	INOV

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
INOV	0.32	(0.05)	0.00	(0.54)	0.00	0.00	0.52	(0.85)	2.37
BUFR	0.25	0.02	0.02	0.27	0.30	(0.27)	0.59	(0.53)	2.40
BUFD	0.24	0.02	0.01	0.25	0.37	(0.24)	0.55	(0.47)	2.27
PSEP	0.26	0.02	0.01	0.23	0.36	(0.26)	0.48	(0.56)	2.61
PJAN	0.11	0.03	0.07	0.85	0.00	(0.13)	0.26	(0.19)	1.20
PJUL	0.28	0.02	0.01	0.24	0.43	(0.27)	0.61	(0.58)	2.70
PAUG	0.26	0.02	0.01	0.24	0.30	(0.27)	0.57	(0.52)	2.32
DNOV	0.18	0.02	0.00	(2.85)	0.29	(0.18)	0.35	(0.46)	1.71
PMAY	0.15	0.03	0.04	2.12	0.10	(0.17)	0.34	(0.34)	1.51
PJUN	0.20	0.02	0.02	0.36	0.23	(0.22)	0.52	(0.46)	1.98

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