Innovator Premium Correlations

LJUL Etf

23.94 0.03 0.13%

The current 90-days correlation between Innovator Premium Income and FT Vest Equity is 0.69 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator Premium moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator Premium Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Premium Correlation With Market

Very weak diversification

The correlation between Innovator Premium Income and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Premium Income 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 Premium Income. 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

0.91	INOV	Innovator ETFs Trust	Pair Corr
0.78	FXY	Invesco CurrencyShares	Pair Corr
0.76	PMBS	PIMCO Mortgage Backed	Pair Corr
0.63	AMPD	Tidal Trust II	Pair Corr
0.77	KO	Coca Cola Sell-off Trend	Pair Corr
0.74	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.65	TRV	The Travelers Companies	Pair Corr
0.9	MMM	3M Company	Pair Corr
0.83	JNJ	Johnson Johnson	Pair Corr
0.72	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.8	IBM	International Business	Pair Corr
0.69	INTC	Intel Sell-off Trend	Pair Corr

Moving against Innovator Etf

0.68	MRK	Merck Company	Pair Corr
0.67	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.7	MSFT	Microsoft Aggressive Push	Pair Corr
0.56	AA	Alcoa Corp	Pair Corr
0.46	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.02	0.58	-0.53	0.3	0.43	0.28	0.9	-0.74	-0.03	META
MSFT	-0.02		-0.62	0.02	-0.8	0.7	0.89	0.13	0.43	-0.55	MSFT
UBER	0.58	-0.62		-0.28	0.81	-0.27	-0.53	0.51	-0.84	0.57	UBER
F	-0.53	0.02	-0.28		0.0	-0.09	-0.16	-0.37	0.51	0.36	F
T	0.3	-0.8	0.81	0.0		-0.59	-0.71	0.16	-0.65	0.6	T
A	0.43	0.7	-0.27	-0.09	-0.59		0.8	0.62	0.11	-0.34	A
CRM	0.28	0.89	-0.53	-0.16	-0.71	0.8		0.36	0.23	-0.61	CRM
JPM	0.9	0.13	0.51	-0.37	0.16	0.62	0.36		-0.63	0.06	JPM
MRK	-0.74	0.43	-0.84	0.51	-0.65	0.11	0.23	-0.63		-0.32	MRK
XOM	-0.03	-0.55	0.57	0.36	0.6	-0.34	-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
CRM	+ 0.89	MSFT
T	+ 0.81	UBER
CRM	+ 0.8	A
A	+ 0.7	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.84	UBER
T	- 0.8	MSFT
MRK	- 0.74	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

Innovator Premium Competition Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Premium 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 Premium'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	(0.29)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.40	0.18	0.75	2.03	(2.05)	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	1.16	(0.14)	0.00	(0.20)	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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