Innovator Correlations

Etfs . USA . 
Etf . Innovator SP 500
UOCT Etf  USD 35.70  0.10  0.28%   
The current 90-days correlation between Innovator SP 500 and Innovator SP 500 is 0.88 (i.e., Very poor diversification). The correlation of Innovator 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 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 main economic indicators.

Moving together with Innovator Etf

  0.96BUFR First Trust CboePairCorr
  0.95BUFD FT Cboe VestPairCorr
  0.94PSEP Innovator SP 500PairCorr
  0.91PJAN Innovator SP 500PairCorr
  0.94PJUL Innovator SP 500PairCorr
  0.94PAUG Innovator Equity PowerPairCorr
  0.91DNOV FT Cboe VestPairCorr
  0.93PMAY Innovator SP 500PairCorr
  0.94PJUN Innovator SP 500PairCorr
  0.69NVDL GraniteShares 15x Long Buyout TrendPairCorr
  0.68NVDX T Rex 2X Buyout TrendPairCorr
  0.69NVDU Direxion Daily NVDAPairCorr
  0.94FNGU MicroSectors FANG Index Buyout TrendPairCorr
  0.95WEBL Direxion Daily DowPairCorr
  0.91BITX Volatility Shares Trust Buyout TrendPairCorr
  0.87DIS Walt Disney Sell-off TrendPairCorr
  0.92JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.81TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.76AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.92AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.84T ATT Inc Sell-off TrendPairCorr
  0.72HD Home DepotPairCorr
  0.82CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.93BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr

Moving against Innovator Etf

  0.48WTID UBS ETRACSPairCorr
  0.31INOV Innovator ETFs TrustPairCorr
  0.79KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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