Innovator Equity Correlations

XTAP Etf

USD 39.21 0.01 0.03%

The current 90-days correlation between Innovator Equity Acc and Innovator Growth 100 Accelerated is 0.85 (i.e., Very poor diversification). The correlation of Innovator Equity 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 Equity Correlation With Market

Very poor diversification

The correlation between Innovator Equity Accelerated and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Equity Accelerated and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Innovator Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Innovator Equity Accelerated. 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

0.91	INOV	Innovator ETFs Trust	Pair Corr
1.0	BUFR	First Trust Cboe	Pair Corr
1.0	BUFD	FT Cboe Vest	Pair Corr
0.98	PSEP	Innovator SP 500	Pair Corr
0.98	PJAN	Innovator SP 500	Pair Corr
0.99	PJUL	Innovator SP 500	Pair Corr
1.0	PAUG	Innovator Equity Power	Pair Corr
1.0	DNOV	FT Cboe Vest	Pair Corr
0.98	PMAY	Innovator SP 500	Pair Corr
1.0	PJUN	Innovator SP 500	Pair Corr
0.95	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.66	AMPD	Tidal ETF Services	Pair Corr
0.9	PMBS	PIMCO Mortgage Backed	Pair Corr
0.91	ITWO	Proshares Russell 2000 Low Volatility	Pair Corr
0.93	JPM	JPMorgan Chase	Pair Corr
0.91	CVX	Chevron Corp	Pair Corr
0.85	BA	Boeing	Pair Corr
0.81	BAC	Bank of America Aggressive Push	Pair Corr
0.79	MRK	Merck Company	Pair Corr
0.95	CAT	Caterpillar	Pair Corr
0.78	PFE	Pfizer Inc	Pair Corr
0.8	AA	Alcoa Corp	Pair Corr
0.73	HD	Home Depot	Pair Corr
0.85	JNJ	Johnson Johnson	Pair Corr

Moving against Innovator Etf

0.73	PG	Procter Gamble	Pair Corr
0.52	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	QTAP	XBAP	XDQQ	XDSQ
QTAP		0.98	0.94	0.98	QTAP
XBAP	0.98		0.93	0.96	XBAP
XDQQ	0.94	0.93		0.98	XDQQ
XDSQ	0.98	0.96	0.98		XDSQ
	QTAP	XBAP	XDQQ	XDSQ

Innovator Equity Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator Equity 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 Equity'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
QTAP	0.30	0.06	(0.06)	0.28	0.00	(0.34)	0.87	(0.51)	2.28
XBAP	0.21	0.07	(0.31)	(0.59)	0.00	(0.27)	0.47	(0.35)	1.75
XDQQ	0.35	0.05	(0.05)	0.26	0.14	(0.38)	1.14	(0.50)	2.74
XDSQ	0.31	0.05	(0.03)	0.23	0.00	(0.35)	0.83	(0.43)	3.10

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