Innovator Equity Correlations

TAPR Etf

USD 24.75 0.02 0.04%

The current 90-days correlation between Innovator Equity Defined and FT Vest Equity is -0.22 (i.e., Very good 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

Good diversification

The correlation between Innovator Equity Defined and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Equity Defined and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Innovator Etf

Check out World Market Map to better understand how to build diversified portfolios. 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

0.74	ARKW	ARK Next Generation	Pair Corr
0.78	WTMF	WisdomTree Managed	Pair Corr
0.7	EWC	iShares MSCI Canada	Pair Corr
0.82	BST	BlackRock Science Tech	Pair Corr
0.7	IRET	iREIT MarketVector	Pair Corr
0.8	XTAP	Innovator Equity Acc	Pair Corr
0.84	PJUL	Innovator SP 500	Pair Corr
0.84	SHE	SPDR SSGA Gender	Pair Corr
0.73	MARM	FT Vest Equity	Pair Corr
0.77	AVDV	Avantis International	Pair Corr
0.8	IMSXF	iShares V Public	Pair Corr
0.78	BTCC	Grayscale Funds Trust	Pair Corr
0.79	CNEQ	Alger ETF	Pair Corr
0.84	OCTP	PGIM Large Cap	Pair Corr
0.84	VT	Vanguard Total World	Pair Corr
0.82	NUHY	Nuveen ESG High	Pair Corr
0.83	JNK	SPDR Bloomberg High	Pair Corr
0.78	IJUL	Innovator MSCI EAFE	Pair Corr
0.63	VNLA	Janus Henderson Short	Pair Corr
0.77	BUZZ	VanEck Social Sentiment	Pair Corr
0.75	PABD	iShares Paris Aligned	Pair Corr
0.83	NZAC	SPDR MSCI ACWI	Pair Corr

Moving against Innovator Etf

0.53

HUM

Humana Inc

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.92	0.75	0.82	0.48	0.69	0.51	0.91	-0.18	0.15	META
MSFT	0.92		0.89	0.84	0.53	0.41	0.43	0.94	-0.46	-0.13	MSFT
UBER	0.75	0.89		0.89	0.45	0.3	0.62	0.9	-0.5	-0.16	UBER
F	0.82	0.84	0.89		0.5	0.59	0.7	0.9	-0.2	0.2	F
T	0.48	0.53	0.45	0.5		0.3	0.15	0.57	-0.13	0.16	T
A	0.69	0.41	0.3	0.59	0.3		0.58	0.52	0.51	0.7	A
CRM	0.51	0.43	0.62	0.7	0.15	0.58		0.54	0.14	0.29	CRM
JPM	0.91	0.94	0.9	0.9	0.57	0.52	0.54		-0.36	0.08	JPM
MRK	-0.18	-0.46	-0.5	-0.2	-0.13	0.51	0.14	-0.36		0.7	MRK
XOM	0.15	-0.13	-0.16	0.2	0.16	0.7	0.29	0.08	0.7		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.94	MSFT
MSFT	+ 0.92	META
JPM	+ 0.91	META
JPM	+ 0.9	UBER
JPM	+ 0.9	F
UBER	+ 0.89	MSFT

High negative correlations

MRK	- 0.5	UBER
MRK	- 0.46	MSFT
MRK	- 0.36	JPM
MRK	- 0.2	F
MRK	- 0.18	META
XOM	- 0.16	UBER

Innovator Equity Competition 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
META	2.08	0.24	0.09	0.18	2.46	(2.36)	4.23	(4.29)	21.50
MSFT	1.22	0.32	0.20	0.35	1.15	(1.34)	2.40	(2.36)	13.79
UBER	1.88	0.23	0.10	0.20	2.29	(2.04)	4.19	(3.48)	16.18
F	1.71	0.11	0.04	0.14	2.24	(1.75)	2.90	(3.84)	13.07
T	1.14	0.08	0.03	0.29	1.79	(1.14)	2.01	(2.62)	8.83
A	1.77	(0.10)	0.00	(0.06)	0.00	0.00	2.76	(4.15)	14.45
CRM	1.59	(0.11)	0.00	(0.07)	0.00	0.00	3.01	(3.64)	13.13
JPM	1.32	0.23	0.10	0.23	1.95	(1.38)	2.75	(2.12)	11.14
MRK	1.62	(0.26)	0.00	(0.35)	0.00	0.00	2.55	(4.72)	10.58
XOM	1.29	0.02	0.00	0.05	2.27	(1.20)	2.62	(2.77)	10.53

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