Innovator Equity Correlations

Etfs . USA . 
Etf . Innovator Equity Accelerated
XTAP Etf  USD 39.60  0.18  0.46%   
The current 90-days correlation between Innovator Equity Acc and Innovator ETFs Trust is 0.63 (i.e., 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

Poor diversification

The correlation between Innovator Equity Accelerated and DJI is 0.79 (i.e., 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

  0.96INOV Innovator ETFs TrustPairCorr
  1.0BUFR First Trust CboePairCorr
  0.99BUFD FT Cboe VestPairCorr
  0.99PSEP Innovator SP 500PairCorr
  0.99PJAN Innovator SP 500PairCorr
  0.99PJUL Innovator SP 500PairCorr
  0.99PAUG Innovator Equity PowerPairCorr
  0.99DNOV FT Cboe VestPairCorr
  0.99PMAY Innovator SP 500PairCorr
  0.99PJUN Innovator SP 500PairCorr
  0.9GDXU MicroSectors Gold MinersPairCorr
  0.9JNUG Direxion Daily JuniorPairCorr
  0.92NUGT Direxion Daily GoldPairCorr
  0.76SHNY Microsectors GoldPairCorr
  0.8WGMI Valkyrie Bitcoin MinersPairCorr
  0.87TESL Simplify Volt TSLA Symbol ChangePairCorr
  0.9GDMN WisdomTree Efficient Gold Low VolatilityPairCorr
  0.85AXP American Express Buyout TrendPairCorr
  0.75DD Dupont De NemoursPairCorr
  0.7CAT CaterpillarPairCorr
  0.66WMT Walmart Aggressive PushPairCorr
  0.61HD Home DepotPairCorr
  0.71XOM Exxon Mobil CorpPairCorr
  0.8TRV The Travelers CompaniesPairCorr
  0.88GE GE Aerospace Earnings Call TomorrowPairCorr
  0.72HPQ HP IncPairCorr
  0.78AA Alcoa Corp Earnings Call This WeekPairCorr
  0.83JPM JPMorgan ChasePairCorr

Moving against Innovator Etf

  0.7WTID UBS ETRACSPairCorr
  0.79KO Coca Cola Earnings Call TomorrowPairCorr
  0.59BA BoeingPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
IFEB  0.24  0.02 (0.02) 0.11  0.19 
(0.26)
 0.59 
(0.56)
 1.76 
APRH  0.11  0.01 (0.09) 0.16  0.19 
(0.15)
 0.24 
(0.16)
 2.89 
JUNT  0.23  0.02 (0.02) 0.09  0.19 
(0.27)
 0.58 
(0.32)
 2.02 
AUGZ  0.38  0.03  0.02  0.10  0.49 
(0.41)
 1.03 
(0.55)
 3.09 
XNOV  0.11  0.02 (0.11) 0.13  0.00 
(0.13)
 0.31 
(0.17)
 0.94 
YFYA  0.06  0.01 (0.32) 0.15  0.00 
(0.12)
 0.20 
(0.10)
 0.41 
QTAP  0.23  0.02 (0.03) 0.11  0.23 
(0.24)
 0.71 
(0.51)
 1.93 
JANZ  0.37  0.03  0.02  0.09  0.42 
(0.41)
 1.09 
(0.57)
 3.21 
IDEC  0.28  0.04  0.02  0.13  0.19 
(0.31)
 0.69 
(0.56)
 2.12 
PSFM  0.16  0.02 (0.09) 0.11  0.00 
(0.17)
 0.33 
(0.32)
 1.20 

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