Innovator Small Correlations

KJUN Etf

27.43 0.10 0.37%

The current 90-days correlation between Innovator Small Cap and FT Vest Equity is -0.1 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator Small moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator Small Cap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Small Correlation With Market

Good diversification

The correlation between Innovator Small Cap 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 Small Cap 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 Small Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Innovator Etf

0.95	INOV	Innovator ETFs Trust	Pair Corr
0.96	BUFR	First Trust Cboe	Pair Corr
0.96	BUFD	FT Cboe Vest	Pair Corr
0.96	PSEP	Innovator SP 500	Pair Corr
0.96	PJAN	Innovator SP 500	Pair Corr
0.97	PJUL	Innovator SP 500	Pair Corr
0.95	PAUG	Innovator Equity Power	Pair Corr
0.96	DNOV	FT Cboe Vest	Pair Corr
0.95	PMAY	Innovator SP 500	Pair Corr
0.96	PJUN	Innovator SP 500	Pair Corr
0.96	SIXD	AIM ETF Products	Pair Corr
0.91	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.96	CEFD	ETRACS Monthly Pay	Pair Corr
0.67	DRGN	Themes China Generative	Pair Corr
0.78	EBND	SPDR Bloomberg Emerging	Pair Corr
0.7	CVX	Chevron Corp	Pair Corr
0.84	GE	GE Aerospace	Pair Corr
0.79	DD	Dupont De Nemours	Pair Corr
0.92	BAC	Bank of America Earnings Call This Week	Pair Corr
0.84	AXP	American Express	Pair Corr
0.79	HPQ	HP Inc	Pair Corr
0.86	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.75	CAT	Caterpillar	Pair Corr
0.81	JNJ	Johnson Johnson Earnings Call This Week	Pair Corr
0.88	TRV	The Travelers Companies Earnings Call This Week	Pair Corr

Moving against Innovator Etf

0.96	VIXY	ProShares VIX Short	Pair Corr
0.96	VXX	iPath Series B	Pair Corr
0.42	YCL	ProShares Ultra Yen	Pair Corr
0.82	KO	Coca Cola	Pair Corr
0.64	DIS	Walt Disney	Pair Corr
0.48	BA	Boeing	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.04	-0.02	0.63	-0.18	-0.56	0.13	-0.31	-0.24	META
MSFT	0.28		-0.22	-0.16	-0.37	-0.12	-0.25	0.15	-0.12	-0.35	MSFT
UBER	0.04	-0.22		0.79	0.11	0.66	-0.45	0.52	0.35	0.64	UBER
F	-0.02	-0.16	0.79		0.08	0.74	-0.45	0.57	0.64	0.61	F
T	0.63	-0.37	0.11	0.08		-0.11	-0.25	0.18	-0.1	0.03	T
A	-0.18	-0.12	0.66	0.74	-0.11		-0.34	0.42	0.62	0.59	A
CRM	-0.56	-0.25	-0.45	-0.45	-0.25	-0.34		-0.23	-0.14	-0.03	CRM
JPM	0.13	0.15	0.52	0.57	0.18	0.42	-0.23		0.17	0.62	JPM
MRK	-0.31	-0.12	0.35	0.64	-0.1	0.62	-0.14	0.17		0.23	MRK
XOM	-0.24	-0.35	0.64	0.61	0.03	0.59	-0.03	0.62	0.23		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

F	+ 0.79	UBER
A	+ 0.74	F
A	+ 0.66	UBER
XOM	+ 0.64	UBER
MRK	+ 0.64	F
T	+ 0.63	META

High negative correlations

CRM	- 0.56	META
CRM	- 0.45	F
CRM	- 0.45	UBER
T	- 0.37	MSFT
XOM	- 0.35	MSFT
CRM	- 0.34	A

Innovator Small Competition Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Small 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 Small'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	1.24	(0.04)	(0.05)	0.00	1.36	(1.42)	2.12	(2.27)	14.28
MSFT	0.74	0.06	0.01	0.25	0.82	(0.77)	1.86	(1.47)	6.50
UBER	1.40	0.04	0.00	0.16	1.80	(1.42)	3.62	(2.30)	8.86
F	1.18	(0.07)	(0.02)	0.02	1.66	(1.18)	2.98	(2.20)	9.82
T	0.85	(0.11)	0.00	(1.50)	0.00	0.00	1.75	(2.33)	6.47
A	1.57	0.08	0.08	0.11	1.62	(1.71)	3.82	(2.59)	10.12
CRM	1.32	(0.18)	0.00	(0.10)	0.00	0.00	2.32	(3.30)	8.74
JPM	0.74	0.04	0.04	0.11	0.89	(0.77)	1.69	(1.49)	4.93
MRK	1.31	0.03	0.03	0.10	1.37	(1.43)	2.91	(2.57)	8.73
XOM	0.89	(0.01)	(0.05)	0.03	1.32	(0.81)	1.72	(2.42)	4.70

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