Innovator Russell Correlations

KJUL Etf

USD 28.29 0.11 0.39%

The current 90-days correlation between Innovator Russell 2000 and Innovator Nasdaq 100 Power is 0.81 (i.e., Very poor 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

Good diversification

The correlation between Innovator Russell 2000 and DJI is -0.11 (i.e., Good 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 employment.

Moving together with Innovator Etf

0.94	BUFR	First Trust Cboe	Pair Corr
0.93	BUFD	FT Cboe Vest	Pair Corr
0.92	PSEP	Innovator SP 500	Pair Corr
0.92	PJAN	Innovator SP 500	Pair Corr
0.93	PJUL	Innovator SP 500	Pair Corr
0.92	PAUG	Innovator Equity Power	Pair Corr
0.94	DNOV	FT Cboe Vest	Pair Corr
0.73	PMAY	Innovator SP 500	Pair Corr
0.89	PJUN	Innovator SP 500	Pair Corr
0.88	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.67	CAT	Caterpillar	Pair Corr
0.88	BAC	Bank of America Aggressive Push	Pair Corr
0.63	WMT	Walmart	Pair Corr
0.82	HD	Home Depot	Pair Corr
0.79	MSFT	Microsoft Aggressive Push	Pair Corr

Moving against Innovator Etf

0.71	PMBS	PIMCO Mortgage Backed	Pair Corr
0.65	FXY	Invesco CurrencyShares	Pair Corr
0.68	VZ	Verizon Communications	Pair Corr
0.66	TRV	The Travelers Companies	Pair Corr
0.66	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.57	KO	Coca Cola	Pair Corr
0.48	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.08	0.46	-0.53	0.3	0.41	0.28	0.9	-0.74	-0.03	META
MSFT	0.08		-0.53	0.02	-0.67	0.81	0.68	0.35	0.27	-0.35	MSFT
UBER	0.46	-0.53		-0.39	0.63	-0.34	-0.33	0.33	-0.74	0.38	UBER
F	-0.53	0.02	-0.39		0.0	-0.05	-0.16	-0.37	0.51	0.36	F
T	0.3	-0.67	0.63	0.0		-0.51	-0.71	0.16	-0.65	0.6	T
A	0.41	0.81	-0.34	-0.05	-0.51		0.64	0.64	0.07	-0.23	A
CRM	0.28	0.68	-0.33	-0.16	-0.71	0.64		0.36	0.23	-0.61	CRM
JPM	0.9	0.35	0.33	-0.37	0.16	0.64	0.36		-0.63	0.06	JPM
MRK	-0.74	0.27	-0.74	0.51	-0.65	0.07	0.23	-0.63		-0.32	MRK
XOM	-0.03	-0.35	0.38	0.36	0.6	-0.23	-0.61	0.06	-0.32		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.9	META
A	+ 0.81	MSFT
CRM	+ 0.68	MSFT
CRM	+ 0.64	A
JPM	+ 0.64	A
T	+ 0.63	UBER

High negative correlations

MRK	- 0.74	UBER
MRK	- 0.74	META
CRM	- 0.71	T
T	- 0.67	MSFT
MRK	- 0.65	T
MRK	- 0.63	JPM

Innovator Russell Competition 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
META	1.63	0.04	0.02	0.00	2.27	(1.46)	2.96	(3.73)	8.90
MSFT	1.11	(0.18)	0.00	5.95	0.00	0.00	2.58	(2.14)	10.31
UBER	1.95	0.38	0.17	23.98	2.11	(2.17)	4.72	(3.13)	12.75
F	1.44	0.14	0.06	0.09	2.12	(1.42)	2.71	(2.88)	10.14
T	0.99	0.29	0.19	0.56	1.43	(1.11)	1.90	(1.55)	11.66
A	1.15	(0.18)	0.00	4.17	0.00	0.00	2.92	(2.59)	9.03
CRM	1.40	(0.29)	0.00	(0.29)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.14	0.10	0.05	0.05	1.76	(1.09)	2.16	(3.35)	6.85
MRK	1.16	(0.11)	0.00	1.03	0.00	0.00	2.07	(1.80)	11.58
XOM	1.03	0.13	0.10	0.27	1.28	(1.06)	2.55	(2.36)	5.89

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