Correlation Between Unusual Whales and Innovator Capital
Can any of the company-specific risk be diversified away by investing in both Unusual Whales and Innovator Capital at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Unusual Whales and Innovator Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Unusual Whales Subversive and Innovator Capital Management, you can compare the effects of market volatilities on Unusual Whales and Innovator Capital and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Unusual Whales with a short position of Innovator Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Unusual Whales and Innovator Capital.
Diversification Opportunities for Unusual Whales and Innovator Capital
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Unusual and Innovator is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Unusual Whales Subversive and Innovator Capital Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Innovator Capital and Unusual Whales is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Unusual Whales Subversive are associated (or correlated) with Innovator Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Innovator Capital has no effect on the direction of Unusual Whales i.e., Unusual Whales and Innovator Capital go up and down completely randomly.
Pair Corralation between Unusual Whales and Innovator Capital
Considering the 90-day investment horizon Unusual Whales Subversive is expected to generate 16.29 times more return on investment than Innovator Capital. However, Unusual Whales is 16.29 times more volatile than Innovator Capital Management. It trades about 0.1 of its potential returns per unit of risk. Innovator Capital Management is currently generating about 0.3 per unit of risk. If you would invest 3,509 in Unusual Whales Subversive on September 8, 2025 and sell it today you would earn a total of 195.00 from holding Unusual Whales Subversive or generate 5.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 35.38% |
| Values | Daily Returns |
Unusual Whales Subversive vs. Innovator Capital Management
Performance |
| Timeline |
| Unusual Whales Subversive |
| Innovator Capital |
Risk-Adjusted Performance
Solid
Weak | Strong |
Unusual Whales and Innovator Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Unusual Whales and Innovator Capital
The main advantage of trading using opposite Unusual Whales and Innovator Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Unusual Whales position performs unexpectedly, Innovator Capital can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Innovator Capital will offset losses from the drop in Innovator Capital's long position.| Unusual Whales vs. Strategy Shares | Unusual Whales vs. Freedom Day Dividend | Unusual Whales vs. Franklin Templeton ETF | Unusual Whales vs. iShares MSCI China |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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