Innovator Nasdaq Correlations

NJAN Etf

USD 49.03 0.01 0.02%

The current 90-days correlation between Innovator Nasdaq 100 and FT Vest Equity is 0.79 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator Nasdaq moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator Nasdaq 100 Power moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Nasdaq Correlation With Market

Weak diversification

The correlation between Innovator Nasdaq 100 Power and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Nasdaq 100 Power 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 Nasdaq 100 Power. 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

0.88	BUFR	First Trust Cboe	Pair Corr
0.88	BUFD	FT Cboe Vest	Pair Corr
0.79	PSEP	Innovator SP 500	Pair Corr
0.96	PJAN	Innovator SP 500	Pair Corr
0.84	PJUL	Innovator SP 500	Pair Corr
0.86	PAUG	Innovator Equity Power	Pair Corr
0.7	DNOV	FT Cboe Vest	Pair Corr
0.96	PMAY	Innovator SP 500	Pair Corr
0.91	PJUN	Innovator SP 500	Pair Corr
0.67	VTI	Vanguard Total Stock	Pair Corr
0.69	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.69	IVV	iShares Core SP	Pair Corr
0.86	VUG	Vanguard Growth Index	Pair Corr
0.66	BAC	Bank of America	Pair Corr
0.82	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.91	AXP	American Express Earnings Call Tomorrow	Pair Corr
0.64	BA	Boeing Earnings Call This Week	Pair Corr
0.83	WMT	Walmart	Pair Corr
0.91	CSCO	Cisco Systems Aggressive Push	Pair Corr

Moving against Innovator Etf

0.65	VWO	Vanguard FTSE Emerging Sell-off Trend	Pair Corr
0.61	VEA	Vanguard FTSE Developed	Pair Corr
0.56	INOV	Innovator ETFs Trust	Pair Corr
0.36	BND	Vanguard Total Bond	Pair Corr
0.7	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.67	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.67	HPQ	HP Inc	Pair Corr
0.59	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.49	INTC	Intel Earnings Call Today	Pair Corr
0.4	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	DJAN	MDLV	DJUL	DJUN	SH	VV
DHDG		0.76	0.21	0.45	0.13	0.81	0.81	-0.87	0.84	DHDG
MBCC	0.76		0.39	0.12	0.49	0.65	0.66	-0.91	0.77	MBCC
DIHP	0.21	0.39		-0.55	0.73	-0.14	-0.16	-0.17	-0.07	DIHP
DJAN	0.45	0.12	-0.55		-0.63	0.8	0.8	-0.43	0.7	DJAN
MDLV	0.13	0.49	0.73	-0.63		-0.19	-0.19	-0.21	-0.08	MDLV
DJUL	0.81	0.65	-0.14	0.8	-0.19		1.0	-0.88	0.98	DJUL
DJUN	0.81	0.66	-0.16	0.8	-0.19	1.0		-0.88	0.98	DJUN
SH	-0.87	-0.91	-0.17	-0.43	-0.21	-0.88	-0.88		-0.94	SH
VV	0.84	0.77	-0.07	0.7	-0.08	0.98	0.98	-0.94		VV
	DHDG	MBCC	DIHP	DJAN	MDLV	DJUL	DJUN	SH	VV

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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

DJUN	+ 1.0	DJUL
VV	+ 0.98	DJUL
VV	+ 0.98	DJUN
VV	+ 0.84	DHDG
DJUL	+ 0.81	DHDG
DJUN	+ 0.81	DHDG

High negative correlations

VV	- 0.94	SH
SH	- 0.91	MBCC
SH	- 0.88	DJUN
SH	- 0.88	DJUL
SH	- 0.87	DHDG
MDLV	- 0.63	DJAN

Innovator Nasdaq Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Nasdaq 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 Nasdaq'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
DHDG	0.37	0.03	0.02	0.15	0.49	(0.37)	0.91	(0.86)	3.06
MBCC	0.61	0.00	(0.01)	0.03	0.89	(0.58)	1.12	(1.27)	4.33
DIHP	0.55	(0.06)	0.00	(0.21)	0.00	0.00	0.84	(1.22)	4.02
DJAN	0.11	0.03	0.05	0.82	0.00	(0.13)	0.36	(0.18)	1.11
MDLV	0.53	(0.08)	0.00	(0.26)	0.00	0.00	0.79	(1.13)	2.96
DJUL	0.29	0.03	0.02	0.19	0.40	(0.31)	0.69	(0.62)	2.69
DJUN	0.30	0.03	0.02	0.18	0.39	(0.31)	0.68	(0.67)	2.84
SH	0.57	(0.04)	0.00	0.13	0.00	0.00	1.37	(1.18)	4.81
VV	0.60	0.06	0.04	0.18	0.88	(0.56)	1.26	(1.27)	5.70

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