Innovator Correlations

PMAR Etf

USD 44.64 0.05 0.11%

The current 90-days correlation between Innovator SP 500 and KraneShares Trust is 0.11 (i.e., Average 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Innovator Correlation With Market

Very poor diversification

The correlation between Innovator SP 500 and DJI is 0.8 (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 Your Equity Center 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

0.9	INOV	Innovator ETFs Trust	Pair Corr
0.91	BUFR	First Trust Cboe	Pair Corr
0.99	BUFD	FT Cboe Vest	Pair Corr
0.97	PSEP	Innovator SP 500	Pair Corr
0.98	PJAN	Innovator SP 500	Pair Corr
0.98	PJUL	Innovator SP 500	Pair Corr
0.98	PAUG	Innovator Equity Power	Pair Corr
0.91	DNOV	FT Cboe Vest	Pair Corr
0.92	PMAY	Innovator SP 500	Pair Corr
0.75	ITDD	iShares Trust	Pair Corr
0.67	AMPD	Tidal ETF Services	Pair Corr
0.64	ITWO	Proshares Russell 2000	Pair Corr
0.84	CPST	Calamos ETF Trust	Pair Corr
0.74	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.82	AXP	American Express	Pair Corr
0.74	DD	Dupont De Nemours	Pair Corr
0.68	JNJ	Johnson Johnson	Pair Corr
0.66	KO	Coca Cola	Pair Corr
0.62	WMT	Walmart	Pair Corr
0.84	CAT	Caterpillar	Pair Corr
0.85	IBM	International Business	Pair Corr
0.79	BAC	Bank of America	Pair Corr
0.87	AA	Alcoa Corp	Pair Corr

Moving against Innovator Etf

0.4	CVX	Chevron Corp	Pair Corr
0.4	HPQ	HP Inc	Pair Corr
0.63	HD	Home Depot	Pair Corr
0.44	BA	Boeing	Pair Corr

Related Correlations Analysis

	KBUF	EATZ	CDIG	MCHS	THNR	CRED	BEDZ	ION	IRET	GEND
KBUF		0.28	0.19	0.76	-0.39	0.45	0.18	-0.42	0.04	-0.03	KBUF
EATZ	0.28		0.49	0.57	-0.45	0.77	0.82	-0.73	0.66	0.19	EATZ
CDIG	0.19	0.49		0.64	-0.4	0.35	0.57	-0.5	0.15	0.17	CDIG
MCHS	0.76	0.57	0.64		-0.46	0.62	0.53	-0.6	0.26	0.18	MCHS
THNR	-0.39	-0.45	-0.4	-0.46		-0.57	-0.36	0.79	-0.14	0.54	THNR
CRED	0.45	0.77	0.35	0.62	-0.57		0.76	-0.8	0.74	-0.05	CRED
BEDZ	0.18	0.82	0.57	0.53	-0.36	0.76		-0.73	0.64	0.2	BEDZ
ION	-0.42	-0.73	-0.5	-0.6	0.79	-0.8	-0.73		-0.38	0.35	ION
IRET	0.04	0.66	0.15	0.26	-0.14	0.74	0.64	-0.38		0.36	IRET
GEND	-0.03	0.19	0.17	0.18	0.54	-0.05	0.2	0.35	0.36		GEND
	KBUF	EATZ	CDIG	MCHS	THNR	CRED	BEDZ	ION	IRET	GEND

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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

BEDZ	+ 0.82	EATZ
ION	+ 0.79	THNR
CRED	+ 0.77	EATZ
MCHS	+ 0.76	KBUF
BEDZ	+ 0.76	CRED
IRET	+ 0.74	CRED

High negative correlations

ION	- 0.8	CRED
ION	- 0.73	BEDZ
ION	- 0.73	EATZ
ION	- 0.6	MCHS
CRED	- 0.57	THNR
ION	- 0.5	CDIG

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
KBUF	0.55	0.02	(0.04)	0.15	0.75	(0.56)	1.13	(0.81)	4.55
EATZ	0.89	(0.10)	0.00	(1.46)	0.00	0.00	2.14	(1.76)	5.67
CDIG	1.12	(0.04)	(0.01)	0.03	1.57	(1.14)	2.97	(2.84)	9.52
MCHS	0.81	(0.05)	(0.05)	(0.01)	1.27	(0.82)	1.69	(1.61)	7.05
THNR	0.87	0.10	0.03	(0.72)	0.89	(1.00)	2.14	(1.56)	7.36
CRED	0.55	(0.08)	0.00	(1.15)	0.00	0.00	1.07	(1.38)	4.03
BEDZ	0.89	(0.11)	0.00	(0.72)	0.00	0.00	2.08	(1.92)	5.60
ION	1.81	0.48	0.18	(0.57)	1.78	(2.13)	3.32	(2.68)	10.75
IRET	0.61	(0.07)	0.00	(0.34)	0.00	0.00	1.33	(1.02)	3.86
GEND	0.49	0.03	(0.05)	1.13	0.51	(0.61)	1.07	(0.95)	2.85

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