Innovator Growth Correlations

Etfs . USA . 
Etf . Innovator Growth Accelerated
QTJL Etf  USD 35.61  0.20  0.56%   
The current 90-days correlation between Innovator Growth Acc and Innovator Growth 100 Accelerated is 0.99 (i.e., No risk reduction). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator Growth moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator Growth Accelerated moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Growth Correlation With Market

Almost no diversification

The correlation between Innovator Growth Accelerated and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Growth Accelerated and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Innovator Growth 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 inflation.

Moving together with Innovator Etf

  0.94INOV Innovator ETFs TrustPairCorr
  0.98BUFR First Trust CboePairCorr
  0.99BUFD FT Cboe VestPairCorr
  0.99PSEP Innovator SP 500PairCorr
  0.99PJAN Innovator SP 500PairCorr
  0.99PJUL Innovator SP 500PairCorr
  0.99PAUG Innovator Equity PowerPairCorr
  0.99DNOV FT Cboe VestPairCorr
  0.98PMAY Innovator SP 500PairCorr
  0.99PJUN Innovator SP 500PairCorr
  0.98ITDD iShares TrustPairCorr
  0.92ITWO Proshares Russell 2000 Low VolatilityPairCorr
  0.98JPM JPMorgan ChasePairCorr
  0.75MMM 3M CompanyPairCorr
  0.88IBM International BusinessPairCorr
  0.95BAC Bank of America Aggressive PushPairCorr
  0.98AXP American ExpressPairCorr
  0.62WMT Walmart Aggressive PushPairCorr
  0.96BA BoeingPairCorr
  0.64HD Home DepotPairCorr
  0.8TRV The Travelers CompaniesPairCorr

Related Correlations Analysis

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Innovator Growth Constituents Risk-Adjusted Indicators

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