Innovator Correlations

Etfs . USA . 
Etf . Innovator SP 500
UJAN Etf  USD 38.76  0.01  0.03%   
The current 90-days correlation between Innovator SP 500 and Innovator ETFs Trust is 0.41 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator SP 500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Correlation With Market

Poor diversification

The correlation between Innovator SP 500 and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator SP 500 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 SP 500. 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

  0.99BUFR First Trust CboePairCorr
  0.99BUFD FT Cboe VestPairCorr
  0.98PSEP Innovator SP 500PairCorr
  1.0PJAN Innovator SP 500PairCorr
  0.98PJUL Innovator SP 500PairCorr
  0.98PAUG Innovator Equity PowerPairCorr
  0.96DNOV FT Cboe VestPairCorr
  0.99PMAY Innovator SP 500PairCorr
  0.99PJUN Innovator SP 500PairCorr
  0.97UPRO ProShares UltraPro SP500PairCorr
  0.99QTJA Innovator ETFs TrustPairCorr
  0.87QTOC Innovator ETFs TrustPairCorr
  0.87XTOC Innovator ETFs TrustPairCorr
  0.99QTAP Innovator Growth 100PairCorr
  0.93TSJA TSJAPairCorr
  1.0XTJA Innovator ETFs TrustPairCorr
  0.94DSJA DSJAPairCorr
  1.0XDJA Innovator ETFs TrustPairCorr
  0.99XTAP Innovator Equity AccPairCorr
  0.81HD Home DepotPairCorr
  0.83T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.88BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.89INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.91CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.94AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.95AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.63XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.87WMT Walmart Aggressive PushPairCorr

Moving against Innovator Etf

  0.88MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.84KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.83JNJ Johnson Johnson Sell-off TrendPairCorr
  0.7BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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
PAUG
+ 1.0
BUFR
PMAY
+ 1.0
BUFR
PAUG
+ 1.0
PSEP
PSEP
+ 0.99
BUFD
  
High negative correlations   
DNOV
- 0.24
INOV
BUFD
- 0.16
INOV
BUFR
- 0.15
INOV
PMAY
- 0.13
INOV
PSEP
- 0.11
INOV
PAUG
- 0.09
INOV

Innovator Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator 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'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.

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