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.
Innovator |
Moving together with Innovator Etf
| 0.69 | BUFR | First Trust Cboe | PairCorr |
| 0.65 | BUFD | FT Cboe Vest | PairCorr |
| 0.69 | PSEP | Innovator SP 500 | PairCorr |
| 0.7 | PJUL | Innovator SP 500 | PairCorr |
| 0.68 | PAUG | Innovator Equity Power | PairCorr |
| 0.77 | DNOV | FT Cboe Vest | PairCorr |
| 0.89 | WGMI | Valkyrie Bitcoin Miners | PairCorr |
| 0.89 | HD | Home Depot | PairCorr |
| 0.83 | HPQ | HP Inc | PairCorr |
| 0.81 | AA | Alcoa Corp | PairCorr |
| 0.7 | AXP | American Express | PairCorr |
| 0.81 | MSFT | Microsoft | PairCorr |
| 0.74 | DIS | Walt Disney | PairCorr |
| 0.75 | CAT | Caterpillar | PairCorr |
Moving against Innovator Etf
| 0.65 | AMPD | Tidal Trust II | PairCorr |
| 0.54 | IDOG | ALPS International Sector | PairCorr |
| 0.35 | INOV | Innovator ETFs Trust | PairCorr |
| 0.35 | PMBS | PIMCO Mortgage Backed | PairCorr |
| 0.33 | FXY | Invesco CurrencyShares | PairCorr |
| 0.58 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.46 | T | ATT Inc | PairCorr |
| 0.42 | VZ | Verizon Communications Sell-off Trend | PairCorr |
| 0.31 | MMM | 3M Company | PairCorr |
Related Correlations Analysis
| -0.03 | -0.07 | 0.98 | 0.94 | NJAN | ||
| -0.03 | 0.72 | -0.04 | 0.14 | EJAN | ||
| -0.07 | 0.72 | 0.04 | -0.08 | IJAN | ||
| 0.98 | -0.04 | 0.04 | 0.89 | PJAN | ||
| 0.94 | 0.14 | -0.08 | 0.89 | NOCT | ||
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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 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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NJAN | 0.42 | (0.01) | 0.00 | (0.15) | 0.00 | 0.87 | 3.11 | |||
| EJAN | 0.50 | 0.00 | 0.00 | (0.13) | 0.00 | 0.94 | 4.19 | |||
| IJAN | 0.43 | 0.05 | 0.22 | 0.02 | 0.62 | 0.76 | 2.72 | |||
| PJAN | 0.32 | 0.01 | 0.00 | (0.12) | 0.00 | 0.61 | 2.47 | |||
| NOCT | 0.46 | (0.02) | 0.00 | (0.18) | 0.00 | 0.70 | 3.16 |