Innovator Correlations

Etfs . USA . 
Etf . Innovator SP 500
UDEC Etf  USD 38.46  0.30  0.79%   
The current 90-days correlation between Innovator SP 500 and First Trust Exchange Traded is 0.96 (i.e., Almost no 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.

Innovator Correlation With Market

Very poor diversification

The correlation between Innovator SP 500 and DJI is 0.83 (i.e., Very 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.
  
Build AI portfolio with Innovator Etf
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 services.

Moving together with Innovator Etf

  0.93INOV Innovator ETFs TrustPairCorr
  0.99BUFR First Trust CboePairCorr
  0.99BUFD FT Cboe VestPairCorr
  0.96PSEP Innovator SP 500PairCorr
  0.99PJAN Innovator SP 500PairCorr
  0.98PJUL Innovator SP 500PairCorr
  0.97PAUG Innovator Equity PowerPairCorr
  0.96DNOV FT Cboe VestPairCorr
  0.97PMAY Innovator SP 500PairCorr
  0.77WGMI Valkyrie Bitcoin MinersPairCorr
  0.83SHAG WisdomTree Yield EnhancedPairCorr
  0.86GOP Unusual Whales Subversive Symbol ChangePairCorr
  0.94ISRCF iShares V PublicPairCorr
  0.96QQQ Invesco QQQ TrustPairCorr
  0.78SLV iShares Silver TrustPairCorr
  0.9EQTYX WisdomTree Siegel GlobalPairCorr
  0.97ESGE iShares ESG AwarePairCorr
  0.93RFDA RiverFront DynamicPairCorr
  0.93FEMR Fidelity Covington TrustPairCorr
  0.95IGM iShares Expanded TechPairCorr
  0.76JNK SPDR Bloomberg HighPairCorr
  0.97BJUN Innovator SP 500PairCorr
  0.95IYW iShares Technology ETFPairCorr
  0.86PPI Investment ManagersPairCorr
  0.7AGMI Themes Silver MinersPairCorr
  0.91ICLN iShares Global Clean Sell-off TrendPairCorr
  0.97EMOP AB Active ETFs,PairCorr
  0.7WIA Western AssetClaymorePairCorr
  0.99BMAR Innovator SP 500PairCorr
  0.99JEPQ JPMorgan Nasdaq EquityPairCorr
  0.8VEMY Virtus ETF TrustPairCorr
  0.89CEMB iShares JP MorganPairCorr
  0.88EEMV iShares MSCI EmergingPairCorr
  0.88BKLN Invesco Senior LoanPairCorr
  0.76CNXT VanEck ChiNext ETFPairCorr
  0.94IXSRF IXSRFPairCorr

Moving against Innovator Etf

  0.52VIXY ProShares VIX Short Downward RallyPairCorr

Related Correlations Analysis


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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DMAY  0.18  0.00 (0.09) 0.05  0.19 
(0.20)
 0.39 
(0.34)
 1.57 
DAPR  0.13  0.00 (0.14) 0.06  0.10 
(0.14)
 0.31 
(0.28)
 0.96 
BSEP  0.34  0.01 (0.01) 0.07  0.43 
(0.33)
 0.72 
(0.68)
 2.88 
USEP  0.22  0.00 (0.06) 0.05  0.27 
(0.23)
 0.50 
(0.49)
 1.66 
DSEP  0.22 (0.01)(0.09) 0.03  0.31 
(0.23)
 0.48 
(0.45)
 1.91 
UJUL  0.19  0.00 (0.08) 0.05  0.25 
(0.19)
 0.56 
(0.39)
 1.56 
BOCT  0.35  0.01 (0.01) 0.06  0.53 
(0.33)
 0.86 
(0.76)
 2.99 
IJUL  0.32 (0.03)(0.11)(0.02) 0.42 
(0.33)
 0.53 
(0.67)
 1.96 
BUFG  0.30  0.01 (0.03) 0.05  0.42 
(0.31)
 0.78 
(0.70)
 2.59 
IAPR  0.24 (0.01)(0.11) 0.00  0.32 
(0.25)
 0.46 
(0.53)
 1.34 

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