Innovator Equity Correlations

PAUG Etf

USD 38.78 0.12 0.31%

The current 90-days correlation between Innovator Equity Power and Innovator SP 500 is 0.95 (i.e., Almost no diversification). The correlation of Innovator Equity 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.

Innovator Equity Correlation With Market

Very poor diversification

The correlation between Innovator Equity Power and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Equity Power and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Innovator Equity 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 employment.

Moving together with Innovator Etf

1.0	BUFR	First Trust Cboe	Pair Corr
0.99	BUFD	FT Cboe Vest	Pair Corr
1.0	PSEP	Innovator SP 500	Pair Corr
0.98	PJAN	Innovator SP 500	Pair Corr
1.0	PJUL	Innovator SP 500	Pair Corr
0.93	DNOV	FT Cboe Vest	Pair Corr
0.99	PMAY	Innovator SP 500	Pair Corr
1.0	PJUN	Innovator SP 500	Pair Corr
0.89	DSJA	DSJA	Pair Corr
0.85	RSPY	Tuttle Capital Management	Pair Corr
0.81	MEME	Roundhill Investments	Pair Corr
0.88	ITDD	iShares Trust	Pair Corr
0.85	BAC	Bank of America Aggressive Push	Pair Corr
0.79	HPQ	HP Inc	Pair Corr
0.85	WMT	Walmart Aggressive Push	Pair Corr
0.87	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.65	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.78	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.94	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.78	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr

Moving against Innovator Etf

0.81	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.78	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.76	KO	Coca Cola Aggressive Push	Pair Corr
0.68	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.64	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	PSEP	POCT	PJUL	PJUN	PNOV
PSEP		0.85	1.0	1.0	0.87	PSEP
POCT	0.85		0.85	0.86	0.89	POCT
PJUL	1.0	0.85		1.0	0.86	PJUL
PJUN	1.0	0.86	1.0		0.88	PJUN
PNOV	0.87	0.89	0.86	0.88		PNOV
	PSEP	POCT	PJUL	PJUN	PNOV

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Innovator Equity Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Equity 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 Equity'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
PSEP	0.25	0.00	(0.20)	0.12	0.27	(0.26)	0.53	(0.60)	1.73
POCT	0.20	0.03	(0.28)	1.76	0.21	(0.21)	0.48	(0.44)	1.80
PJUL	0.30	0.01	(0.14)	0.14	0.37	(0.30)	0.62	(0.69)	1.84
PJUN	0.21	0.01	(0.20)	0.16	0.17	(0.22)	0.52	(0.49)	1.54
PNOV	0.12	0.03	(0.44)	0.28	0.00	(0.17)	0.34	(0.16)	1.60

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC