Innovator Premium Correlations

LAPR Etf

25.14 0.04 0.16%

The current 90-days correlation between Innovator Premium Income and Innovator SP 500 is 0.4 (i.e., Very weak diversification). The correlation of Innovator Premium 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 Premium Correlation With Market

Almost no diversification

The correlation between Innovator Premium Income and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Premium Income 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 Premium Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Innovator Etf

0.91	INOV	Innovator ETFs Trust	Pair Corr
0.93	BUFR	First Trust Cboe	Pair Corr
0.94	BUFD	FT Cboe Vest	Pair Corr
0.92	PSEP	Innovator SP 500	Pair Corr
0.94	PJAN	Innovator SP 500	Pair Corr
0.94	PJUL	Innovator SP 500	Pair Corr
0.93	PAUG	Innovator Equity Power	Pair Corr
0.91	DNOV	FT Cboe Vest	Pair Corr
0.98	PMAY	Innovator SP 500	Pair Corr
0.92	ACII	Innovator ETFs Trust	Pair Corr
0.83	JNUG	Direxion Daily Junior	Pair Corr
0.77	GDXU	MicroSectors Gold Miners Upward Rally	Pair Corr
0.83	NUGT	Direxion Daily Gold	Pair Corr
0.84	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.61	AGQ	ProShares Ultra Silver	Pair Corr
0.67	GGLL	Direxion Daily GOOGL	Pair Corr
0.82	DGP	DB Gold Double	Pair Corr
0.96	WLDR	Affinity World Leaders	Pair Corr
0.96	XYLD	Global X SP	Pair Corr
0.92	DMCY	Democracy International	Pair Corr
0.91	TAXT	Northern Trust Tax	Pair Corr
0.66	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.89	FIDU	Fidelity MSCI Industrials	Pair Corr
0.94	XAUG	FT Cboe Vest	Pair Corr
0.91	PFF	iShares Preferred	Pair Corr
0.88	UDI	USCF ETF Trust	Pair Corr
0.84	STXE	EA Series Trust	Pair Corr
0.83	IAUM	iShares Gold Trust	Pair Corr
0.9	WDNA	WisdomTree BioRevolution	Pair Corr
0.93	FB	ProShares Trust ProShares	Pair Corr
0.91	IRTR	iShares Trust	Pair Corr
0.87	XFIX	Fm Investments Symbol Change	Pair Corr
0.94	NULV	Nuveen ESG Large	Pair Corr
0.89	REGL	ProShares SP MidCap	Pair Corr
0.82	SCDV	ETF Series Solutions	Pair Corr
0.93	PSFD	Pacer Swan SOS	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

Innovator Premium Competition Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Premium 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 Premium'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	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

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