Innovator Russell Correlations

KJAN Etf  USD 35.96  0.49  1.38%   
The current 90-days correlation between Innovator Russell 2000 and Innovator Nasdaq 100 Power is 0.57 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator Russell moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator Russell 2000 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Russell Correlation With Market

Very weak diversification

The correlation between Innovator Russell 2000 and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Russell 2000 and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Innovator Russell 2000. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Innovator Etf

  0.69BUFR First Trust CboePairCorr
  0.65BUFD FT Cboe VestPairCorr
  0.69PSEP Innovator SP 500PairCorr
  0.7PJUL Innovator SP 500PairCorr
  0.68PAUG Innovator Equity PowerPairCorr
  0.77DNOV FT Cboe VestPairCorr
  0.89WGMI Valkyrie Bitcoin MinersPairCorr
  0.89HD Home DepotPairCorr
  0.83HPQ HP IncPairCorr
  0.81AA Alcoa CorpPairCorr
  0.7AXP American ExpressPairCorr
  0.81MSFT MicrosoftPairCorr
  0.74DIS Walt DisneyPairCorr
  0.75CAT CaterpillarPairCorr

Moving against Innovator Etf

  0.65AMPD Tidal Trust IIPairCorr
  0.54IDOG ALPS International SectorPairCorr
  0.35INOV Innovator ETFs TrustPairCorr
  0.35PMBS PIMCO Mortgage BackedPairCorr
  0.33FXY Invesco CurrencySharesPairCorr
  0.58JNJ Johnson Johnson Sell-off TrendPairCorr
  0.46T ATT IncPairCorr
  0.42VZ Verizon Communications Sell-off TrendPairCorr
  0.31MMM 3M CompanyPairCorr

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   
PJANNJAN
NOCTNJAN
NOCTPJAN
IJANEJAN
NOCTEJAN
PJANIJAN
  
High negative correlations   
NOCTIJAN
IJANNJAN
PJANEJAN
EJANNJAN

Innovator Russell Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Russell 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 Russell'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.