Innovator Russell Correlations

KOCT Etf

USD 31.16 0.01 0.03%

The current 90-days correlation between Innovator Russell 2000 and Innovator Growth 100 Power is 0.3 (i.e., Weak diversification). The correlation of Innovator Russell 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 Russell Correlation With Market

Average diversification

The correlation between Innovator Russell 2000 and DJI is 0.13 (i.e., Average 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 main economic indicators.

Moving together with Innovator Etf

0.64	PSEP	Innovator SP 500	Pair Corr
0.63	PJUL	Innovator SP 500	Pair Corr
0.62	PAUG	Innovator Equity Power	Pair Corr
0.81	VTI	Vanguard Total Stock	Pair Corr
0.76	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.77	IVV	iShares Core SP	Pair Corr
0.71	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.96	VO	Vanguard Mid Cap	Pair Corr
0.98	VB	Vanguard Small Cap	Pair Corr
0.96	RFDA	RiverFront Dynamic	Pair Corr
0.77	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.75	-0.56	-0.52	0.32	0.69	0.51	0.48	-0.16	-0.64	META
MSFT	0.75		-0.46	-0.16	0.52	0.41	0.61	0.32	-0.07	-0.39	MSFT
UBER	-0.56	-0.46		0.66	-0.4	-0.24	-0.72	-0.43	0.52	0.8	UBER
F	-0.52	-0.16	0.66		0.1	-0.37	-0.13	-0.15	0.18	0.91	F
T	0.32	0.52	-0.4	0.1		0.16	0.76	0.46	-0.26	-0.08	T
A	0.69	0.41	-0.24	-0.37	0.16		0.23	0.61	-0.14	-0.34	A
CRM	0.51	0.61	-0.72	-0.13	0.76	0.23		0.57	-0.47	-0.33	CRM
JPM	0.48	0.32	-0.43	-0.15	0.46	0.61	0.57		-0.63	-0.23	JPM
MRK	-0.16	-0.07	0.52	0.18	-0.26	-0.14	-0.47	-0.63		0.25	MRK
XOM	-0.64	-0.39	0.8	0.91	-0.08	-0.34	-0.33	-0.23	0.25		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

XOM	+ 0.91	F
XOM	+ 0.8	UBER
CRM	+ 0.76	T
MSFT	+ 0.75	META
A	+ 0.69	META
F	+ 0.66	UBER

High negative correlations

CRM	- 0.72	UBER
XOM	- 0.64	META
MRK	- 0.63	JPM
UBER	- 0.56	META
F	- 0.52	META
MRK	- 0.47	CRM

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	1.41	0.17	0.08	0.51	1.54	(1.59)	3.43	(3.15)	7.43
MSFT	0.97	0.09	0.03	1.36	1.53	(0.97)	2.12	(1.73)	8.14
UBER	1.57	(0.23)	0.00	(0.61)	0.00	0.00	2.67	(5.35)	12.29
F	1.46	(0.12)	0.00	(0.20)	0.00	0.00	2.46	(2.90)	11.21
T	0.99	0.06	0.03	0.21	1.12	(1.07)	1.91	(1.84)	7.96
A	1.19	0.11	0.07	0.26	1.17	(1.41)	2.81	(2.42)	8.06
CRM	1.42	0.20	0.10	0.78	1.45	(1.64)	3.16	(2.88)	14.80
JPM	1.07	0.25	0.17	0.95	1.07	(1.26)	1.92	(1.42)	15.87
MRK	1.01	(0.19)	0.00	(1.02)	0.00	0.00	1.74	(2.17)	5.24
XOM	0.75	(0.15)	0.00	(0.28)	0.00	0.00	1.71	(1.67)	6.06

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