Innovator Correlations

UJAN Etf

USD 40.82 0.07 0.17%

The current 90-days correlation between Innovator SP 500 and Innovator SP 500 is 0.95 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator SP 500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Correlation With Market

Very poor diversification

The correlation between Innovator SP 500 and DJI is 0.88 (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 nation.

Moving together with Innovator Etf

0.97	INOV	Innovator ETFs Trust	Pair Corr
1.0	BUFR	First Trust Cboe	Pair Corr
1.0	BUFD	FT Cboe Vest	Pair Corr
1.0	PSEP	Innovator SP 500	Pair Corr
1.0	PJAN	Innovator SP 500	Pair Corr
0.99	PJUL	Innovator SP 500	Pair Corr
0.99	PAUG	Innovator Equity Power	Pair Corr
1.0	DNOV	FT Cboe Vest	Pair Corr
0.98	PMAY	Innovator SP 500	Pair Corr
0.99	PJUN	Innovator SP 500	Pair Corr
0.88	BTCL	T Rex 2X	Pair Corr
0.88	BITU	ProShares Trust	Pair Corr
0.88	BTFX	Valkyrie Bitcoin Futures	Pair Corr
0.88	BITX	Volatility Shares Trust	Pair Corr
0.79	MSTY	YieldMax MSTR Option	Pair Corr
0.98	DFEN	Direxion Daily Aerospace	Pair Corr
0.94	BA	Boeing Earnings Call This Week	Pair Corr
0.9	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.98	CAT	Caterpillar	Pair Corr
0.78	INTC	Intel Earnings Call This Week	Pair Corr
0.96	DIS	Walt Disney	Pair Corr
0.96	AXP	American Express	Pair Corr
0.98	CSCO	Cisco Systems	Pair Corr
0.98	BAC	Bank of America	Pair Corr
0.86	PFE	Pfizer Inc	Pair Corr
0.98	MSFT	Microsoft Aggressive Push	Pair Corr

Moving against Innovator Etf

0.91	WTID	UBS ETRACS	Pair Corr
0.56	KO	Coca Cola Earnings Call Today	Pair Corr
0.51	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.42	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	UJUL	UOCT	BJAN	UAPR	PJAN
UJUL		0.99	1.0	0.98	0.99	UJUL
UOCT	0.99		0.99	1.0	0.98	UOCT
BJAN	1.0	0.99		0.98	1.0	BJAN
UAPR	0.98	1.0	0.98		0.98	UAPR
PJAN	0.99	0.98	1.0	0.98		PJAN
	UJUL	UOCT	BJAN	UAPR	PJAN

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
UJUL	0.51	0.09	0.06	0.27	0.31	(0.56)	1.29	(1.12)	3.93
UOCT	0.34	0.12	(0.03)	18.73	0.00	(0.40)	0.91	(0.58)	2.65
BJAN	0.46	0.08	0.05	0.26	0.35	(0.51)	1.23	(0.85)	3.35
UAPR	0.27	0.09	(0.12)	(7.60)	0.00	(0.30)	0.82	(0.52)	2.21
PJAN	0.36	0.06	(0.01)	0.26	0.19	(0.40)	1.11	(0.58)	2.55

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