Innovator Equity Correlations

UAUG Etf

USD 35.92 0.13 0.36%

The current 90-days correlation between Innovator Equity Ultra and Innovator SP 500 is 0.65 (i.e., Poor 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

Weak diversification

The correlation between Innovator Equity Ultra and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Equity Ultra 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 Equity Ultra. 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

0.84	INOV	Innovator ETFs Trust	Pair Corr
0.89	BUFR	First Trust Cboe Sell-off Trend	Pair Corr
0.87	BUFD	FT Cboe Vest	Pair Corr
0.9	PSEP	Innovator SP 500	Pair Corr
0.71	PJAN	Innovator SP 500	Pair Corr
0.76	PJUL	Innovator SP 500	Pair Corr
0.77	PAUG	Innovator Equity Power	Pair Corr
0.91	DNOV	FT Cboe Vest	Pair Corr
0.77	PMAY	Innovator SP 500	Pair Corr
0.85	PJUN	Innovator SP 500	Pair Corr
0.85	VTI	Vanguard Total Stock	Pair Corr
0.89	SPY	SPDR SP 500	Pair Corr
0.89	IVV	iShares Core SP	Pair Corr
0.76	VTV	Vanguard Value Index	Pair Corr
0.65	VO	Vanguard Mid Cap	Pair Corr
0.86	VEA	Vanguard FTSE Developed	Pair Corr
0.71	T	ATT Inc Aggressive Push	Pair Corr
0.8	JPM	JPMorgan Chase	Pair Corr
0.8	GE	GE Aerospace	Pair Corr
0.71	MMM	3M Company	Pair Corr
0.71	CSCO	Cisco Systems	Pair Corr
0.64	WMT	Walmart	Pair Corr

Moving against Innovator Etf

0.66

MRK

Merck Company Aggressive Push

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.34	0.54	-0.68	0.78	0.45	-0.1	0.85	-0.78	-0.4	META
MSFT	-0.34		-0.63	0.28	-0.48	0.2	0.71	-0.47	0.59	-0.15	MSFT
UBER	0.54	-0.63		-0.15	0.73	-0.02	-0.49	0.72	-0.74	0.37	UBER
F	-0.68	0.28	-0.15		-0.38	-0.16	0.33	-0.41	0.58	0.77	F
T	0.78	-0.48	0.73	-0.38		0.06	-0.2	0.73	-0.78	0.0	T
A	0.45	0.2	-0.02	-0.16	0.06		0.21	0.53	-0.02	-0.29	A
CRM	-0.1	0.71	-0.49	0.33	-0.2	0.21		-0.25	0.43	-0.06	CRM
JPM	0.85	-0.47	0.72	-0.41	0.73	0.53	-0.25		-0.78	-0.08	JPM
MRK	-0.78	0.59	-0.74	0.58	-0.78	-0.02	0.43	-0.78		0.1	MRK
XOM	-0.4	-0.15	0.37	0.77	0.0	-0.29	-0.06	-0.08	0.1		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.85	META
T	+ 0.78	META
XOM	+ 0.77	F
T	+ 0.73	UBER
JPM	+ 0.73	T
JPM	+ 0.72	UBER

High negative correlations

MRK	- 0.78	JPM
MRK	- 0.78	T
MRK	- 0.78	META
MRK	- 0.74	UBER
F	- 0.68	META
UBER	- 0.63	MSFT

Innovator Equity Competition 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
META	1.30	0.26	0.16	0.64	1.38	(1.36)	3.22	(2.26)	7.11
MSFT	0.99	(0.06)	0.00	(0.23)	0.00	0.00	2.20	(1.90)	10.31
UBER	1.88	0.15	0.05	(2.68)	2.72	(1.87)	4.72	(3.13)	12.29
F	1.35	(0.21)	0.00	(0.27)	0.00	0.00	2.46	(2.90)	10.97
T	0.92	0.24	0.21	0.47	0.95	(1.07)	1.80	(1.75)	7.94
A	1.09	0.08	0.07	0.13	1.03	(1.33)	2.81	(1.91)	6.12
CRM	1.43	(0.07)	0.00	(0.08)	0.00	0.00	3.10	(2.95)	15.92
JPM	0.90	0.08	0.06	0.11	1.21	(0.99)	1.92	(1.51)	6.85
MRK	1.22	(0.07)	0.00	(1.13)	0.00	0.00	2.43	(1.81)	11.57
XOM	0.94	(0.13)	0.00	(0.24)	0.00	0.00	1.76	(2.14)	5.69

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