Innovator Equity Correlations

XTAP Etf

USD 35.61 0.05 0.14%

The current 90-days correlation between Innovator Equity Acc and Innovator Equity Accelerated is 0.98 (i.e., Almost no 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Innovator Equity Correlation With Market

Poor diversification

The correlation between Innovator Equity Accelerated 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 Equity Accelerated and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Innovator Equity 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

0.61	PSEP	Innovator SP 500	Pair Corr
0.63	PJAN	Innovator SP 500	Pair Corr
0.89	PMAY	Innovator SP 500	Pair Corr
0.67	PJUN	Innovator SP 500	Pair Corr
0.64	MMM	3M Company	Pair Corr

Moving against Innovator Etf

0.62

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	XDAP	XDSQ	XDQQ	QTAP	XBAP
XDAP		0.74	0.71	0.99	0.94	XDAP
XDSQ	0.74		0.98	0.69	0.49	XDSQ
XDQQ	0.71	0.98		0.68	0.47	XDQQ
QTAP	0.99	0.69	0.68		0.94	QTAP
XBAP	0.94	0.49	0.47	0.94		XBAP
	XDAP	XDSQ	XDQQ	QTAP	XBAP

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Innovator Equity Constituents 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
XDAP	0.47	0.04	0.05	0.06	0.71	(0.45)	1.04	(1.26)	4.14
XDSQ	0.73	(0.04)	0.00	(0.04)	0.00	0.00	1.70	(1.61)	4.98
XDQQ	0.91	(0.05)	0.00	(0.05)	0.00	0.00	1.69	(2.55)	6.61
QTAP	0.56	0.05	0.05	0.06	0.84	(0.58)	1.42	(1.64)	4.95
XBAP	0.27	0.03	0.08	0.09	0.32	(0.29)	0.67	(0.64)	2.45

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