Innovator Long Correlations

TFJL Etf

USD 19.97 0.02 0.10%

The current 90-days correlation between Innovator Long Term and Innovator 20 Year is 0.84 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator Long moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator Long Term moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Long Correlation With Market

Good diversification

The correlation between Innovator Long Term and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Long Term and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Innovator Long Term. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving against Innovator Etf

0.82	PJAN	Innovator SP 500	Pair Corr
0.75	PMAY	Innovator SP 500	Pair Corr
0.74	BUFD	FT Cboe Vest	Pair Corr
0.74	PJUN	Innovator SP 500	Pair Corr
0.72	BUFR	First Trust Cboe	Pair Corr
0.72	NVDU	Direxion Daily NVDA	Pair Corr
0.72	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.71	PJUL	Innovator SP 500	Pair Corr
0.71	PAUG	Innovator Equity Power	Pair Corr
0.71	NVDL	GraniteShares 15x Long	Pair Corr
0.71	NVDX	T Rex 2X	Pair Corr
0.7	PSEP	Innovator SP 500	Pair Corr
0.7	BITX	Volatility Shares Trust	Pair Corr
0.66	DNOV	FT Cboe Vest	Pair Corr
0.64	VCAR	Simplify Volt RoboCar	Pair Corr
0.92	JBBB	Janus Detroit Street	Pair Corr
0.83	JANW	AIM ETF Products	Pair Corr
0.8	BST	BlackRock Science Tech	Pair Corr
0.78	TRFK	Pacer Funds Trust	Pair Corr
0.75	IBLC	iShares Blockchain and	Pair Corr
0.73	RPG	Invesco SP 500	Pair Corr
0.72	BTC	Grayscale Bitcoin Mini	Pair Corr
0.72	DAT	ProShares Big Data	Pair Corr
0.7	FNGU	MicroSectors FANG Index	Pair Corr
0.7	CPAI	Northern Lights	Pair Corr
0.7	SCHB	Schwab Broad Market	Pair Corr
0.68	CGUS	Capital Group Core	Pair Corr
0.67	SABA	Saba Capital Income Symbol Change	Pair Corr
0.66	BULZ	MicroSectors Solactive	Pair Corr
0.64	IDAT	Ishares Trust	Pair Corr
0.47	SHYL	Xtrackers Short Duration	Pair Corr
0.91	RINF	ProShares Inflation	Pair Corr
0.85	BSCO	Invesco BulletShares 2024	Pair Corr
0.82	SOFR	SOFR Symbol Change	Pair Corr
0.79	LOUP	Innovator Loup Frontier	Pair Corr
0.77	PUTW	WisdomTree CBOE SP	Pair Corr
0.76	JEPQ	JPMorgan Nasdaq Equity	Pair Corr

Related Correlations Analysis

	TBJL	THY	TSOC	GOVZ	YDEC
TBJL		0.92	-0.7	0.99	0.84	TBJL
THY	0.92		-0.56	0.92	0.78	THY
TSOC	-0.7	-0.56		-0.67	-0.89	TSOC
GOVZ	0.99	0.92	-0.67		0.83	GOVZ
YDEC	0.84	0.78	-0.89	0.83		YDEC
	TBJL	THY	TSOC	GOVZ	YDEC

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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

GOVZ	+ 0.99	TBJL
THY	+ 0.92	TBJL
GOVZ	+ 0.92	THY
YDEC	+ 0.84	TBJL
YDEC	+ 0.83	GOVZ
YDEC	+ 0.78	THY

High negative correlations

YDEC	- 0.89	TSOC
TSOC	- 0.7	TBJL
GOVZ	- 0.67	TSOC
TSOC	- 0.56	THY

Innovator Long Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Long 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 Long'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
TBJL	0.45	0.00	0.00	0.00	0.00	0.00	0.89	(1.02)	3.03
THY	0.15	(0.04)	0.00	(0.28)	0.00	0.00	0.26	(0.44)	1.49
TSOC	0.29	0.08	0.14	13.69	0.13	(0.33)	0.89	(0.56)	1.94
GOVZ	1.16	(0.24)	0.00	2.37	0.00	0.00	2.47	(2.59)	7.95
YDEC	0.52	(0.15)	0.00	(0.54)	0.00	0.00	1.12	(1.47)	3.87

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