Innovator Nasdaq Correlations

Etfs . USA . 
Etf . Innovator Nasdaq 100 Power
NAPR Etf  USD 51.45  0.06  0.12%   
The current 90-days correlation between Innovator Nasdaq 100 and Innovator Growth 100 Power is 0.86 (i.e., Very poor diversification). The correlation of Innovator Nasdaq 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 Nasdaq Correlation With Market

Very poor diversification

The correlation between Innovator Nasdaq 100 Power and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Nasdaq 100 Power and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Innovator Etf
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Innovator Nasdaq 100 Power. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Innovator Etf

  0.97INOV Innovator ETFs TrustPairCorr
  1.0BUFR First Trust CboePairCorr
  0.98BUFD FT Cboe VestPairCorr
  0.99PSEP Innovator SP 500PairCorr
  1.0PJAN Innovator SP 500PairCorr
  0.98PJUL Innovator SP 500PairCorr
  0.98PAUG Innovator Equity PowerPairCorr
  0.99DNOV FT Cboe VestPairCorr
  0.98PMAY Innovator SP 500PairCorr
  0.98PJUN Innovator SP 500PairCorr
  0.88BTCL T Rex 2XPairCorr
  0.88BITU ProShares TrustPairCorr
  0.88BTFX Valkyrie Bitcoin FuturesPairCorr
  0.88BITX Volatility Shares TrustPairCorr
  0.78MSTY YieldMax MSTR Option Downward RallyPairCorr
  0.96DFEN Direxion Daily AerospacePairCorr
  0.94BA BoeingPairCorr
  0.88DD Dupont De NemoursPairCorr
  0.96CAT CaterpillarPairCorr
  0.74INTC Intel Earnings Call This WeekPairCorr
  0.97DIS Walt DisneyPairCorr
  0.96AXP American ExpressPairCorr
  0.96CSCO Cisco SystemsPairCorr
  0.97BAC Bank of AmericaPairCorr
  0.85PFE Pfizer IncPairCorr
  0.98MSFT MicrosoftPairCorr

Moving against Innovator Etf

  0.92WTID UBS ETRACSPairCorr
  0.6KO Coca Cola Earnings Call This WeekPairCorr
  0.48PG Procter GamblePairCorr
  0.38VZ Verizon Communications Earnings Call This WeekPairCorr

Related Correlations Analysis

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Innovator Nasdaq Constituents Risk-Adjusted Indicators

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