Innovator Growth Correlations

QTAP Etf

USD 38.61 0.22 0.57%

The current 90-days correlation between Innovator Growth 100 and Innovator ETFs Trust is -0.06 (i.e., Good diversification). The correlation of Innovator Growth 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 Growth Correlation With Market

Good diversification

The correlation between Innovator Growth 100 Accelerat and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Growth 100 Accelerat 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 Growth 100 Accelerated. 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

0.7	BUFR	First Trust Cboe	Pair Corr
0.69	BUFD	FT Cboe Vest	Pair Corr
0.73	PSEP	Innovator SP 500	Pair Corr
0.75	PJAN	Innovator SP 500	Pair Corr
0.7	PJUL	Innovator SP 500	Pair Corr
0.73	PAUG	Innovator Equity Power	Pair Corr
0.68	DNOV	FT Cboe Vest	Pair Corr
0.94	PMAY	Innovator SP 500	Pair Corr
0.79	PJUN	Innovator SP 500	Pair Corr

Moving against Innovator Etf

0.56

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	INOV	BUFR	BUFD	PSEP	PJAN	PJUL	PAUG	DNOV	PMAY	PJUN
INOV		-0.32	-0.32	-0.26	-0.2	-0.3	-0.27	-0.33	0.12	-0.19	INOV
BUFR	-0.32		1.0	1.0	0.98	1.0	1.0	1.0	0.85	0.99	BUFR
BUFD	-0.32	1.0		0.99	0.98	1.0	0.99	0.99	0.85	0.98	BUFD
PSEP	-0.26	1.0	0.99		0.98	1.0	1.0	0.99	0.88	0.99	PSEP
PJAN	-0.2	0.98	0.98	0.98		0.98	0.98	0.97	0.89	0.98	PJAN
PJUL	-0.3	1.0	1.0	1.0	0.98		1.0	1.0	0.86	0.99	PJUL
PAUG	-0.27	1.0	0.99	1.0	0.98	1.0		0.99	0.88	0.99	PAUG
DNOV	-0.33	1.0	0.99	0.99	0.97	1.0	0.99		0.83	0.98	DNOV
PMAY	0.12	0.85	0.85	0.88	0.89	0.86	0.88	0.83		0.92	PMAY
PJUN	-0.19	0.99	0.98	0.99	0.98	0.99	0.99	0.98	0.92		PJUN
	INOV	BUFR	BUFD	PSEP	PJAN	PJUL	PAUG	DNOV	PMAY	PJUN

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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

BUFD	+ 1.0	BUFR
PSEP	+ 1.0	BUFR
PJUL	+ 1.0	BUFR
PAUG	+ 1.0	BUFR
DNOV	+ 1.0	BUFR
PJUL	+ 1.0	BUFD

High negative correlations

DNOV	- 0.33	INOV
BUFD	- 0.32	INOV
BUFR	- 0.32	INOV
PJUL	- 0.3	INOV
PAUG	- 0.27	INOV
PSEP	- 0.26	INOV

Innovator Growth Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Growth 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 Growth'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
INOV	0.37	0.10	0.24	0.22	0.37	(0.41)	0.73	(0.72)	2.66
BUFR	0.46	(0.03)	0.00	0.37	0.00	0.00	0.98	(0.97)	2.97
BUFD	0.42	(0.03)	0.00	0.33	0.00	0.00	0.82	(0.88)	2.44
PSEP	0.39	(0.02)	0.00	0.46	0.00	0.00	0.77	(0.78)	2.34
PJAN	0.38	(0.02)	0.00	0.21	0.00	0.00	0.84	(0.81)	2.47
PJUL	0.42	(0.03)	0.00	0.34	0.00	0.00	0.90	(0.92)	2.59
PAUG	0.41	(0.02)	0.00	0.31	0.00	0.00	0.88	(0.85)	2.79
DNOV	0.41	(0.03)	0.00	1.09	0.00	0.00	0.89	(0.84)	2.67
PMAY	0.28	0.01	0.14	(0.38)	0.39	(0.29)	0.67	(0.74)	2.05
PJUN	0.36	(0.01)	0.08	0.23	0.51	(0.35)	0.72	(0.89)	2.32

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