Innovator Correlations

PJUN Etf

USD 37.50 0.03 0.08%

The current 90-days correlation between Innovator SP 500 and FT Cboe Vest is 0.96 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Innovator moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innovator SP 500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Innovator Correlation With Market

Very poor diversification

The correlation between Innovator SP 500 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 SP 500 and DJI in the same portfolio, assuming nothing else is changed.

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 employment.

Moving together with Innovator Etf

0.86	INOV	Innovator ETFs Trust	Pair Corr
0.97	BUFR	First Trust Cboe	Pair Corr
0.99	BUFD	FT Cboe Vest	Pair Corr
0.96	PSEP	Innovator SP 500	Pair Corr
0.99	PJAN	Innovator SP 500	Pair Corr
1.0	PJUL	Innovator SP 500	Pair Corr
1.0	PAUG	Innovator Equity Power	Pair Corr
0.97	DNOV	FT Cboe Vest	Pair Corr
1.0	PMAY	Innovator SP 500	Pair Corr
0.8	USD	ProShares Ultra Semi	Pair Corr
0.67	SGG	Barclays Capital	Pair Corr
0.66	MLPR	ETRACS Quarterly Pay	Pair Corr
0.68	YCS	ProShares UltraShort Yen	Pair Corr
0.71	TBT	ProShares UltraShort	Pair Corr
0.7	TMV	Direxion Daily 20	Pair Corr
0.87	IAU	iShares Gold Trust	Pair Corr
0.99	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.98	IUSG	iShares Core SP	Pair Corr
0.95	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.63	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.88	HD	Home Depot Earnings Call Today	Pair Corr
0.96	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.78	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.91	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.78	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.88	INTC	Intel Aggressive Push	Pair Corr
0.96	CSCO	Cisco Systems Earnings Call Tomorrow	Pair Corr
0.83	HPQ	HP Inc Earnings Call This Week	Pair Corr
0.73	GE	GE Aerospace Sell-off Trend	Pair Corr
0.82	BAC	Bank of America Aggressive Push	Pair Corr

Moving against Innovator Etf

0.78	NRGU	Bank Of Montreal	Pair Corr
0.69	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.39	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.32	0.7	0.13	0.7	0.12	0.86	0.39	-0.67	0.69	META
MSFT	0.32		0.3	0.27	0.3	-0.03	0.12	-0.09	0.08	-0.18	MSFT
UBER	0.7	0.3		0.3	0.39	0.08	0.52	0.35	-0.33	0.53	UBER
F	0.13	0.27	0.3		0.15	-0.06	0.26	0.58	-0.03	0.15	F
T	0.7	0.3	0.39	0.15		-0.13	0.65	0.33	-0.6	0.24	T
A	0.12	-0.03	0.08	-0.06	-0.13		-0.11	-0.35	0.38	0.22	A
CRM	0.86	0.12	0.52	0.26	0.65	-0.11		0.7	-0.87	0.65	CRM
JPM	0.39	-0.09	0.35	0.58	0.33	-0.35	0.7		-0.68	0.4	JPM
MRK	-0.67	0.08	-0.33	-0.03	-0.6	0.38	-0.87	-0.68		-0.51	MRK
XOM	0.69	-0.18	0.53	0.15	0.24	0.22	0.65	0.4	-0.51		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

CRM	+ 0.86	META
UBER	+ 0.7	META
T	+ 0.7	META
JPM	+ 0.7	CRM
XOM	+ 0.69	META
CRM	+ 0.65	T

High negative correlations

MRK	- 0.87	CRM
MRK	- 0.68	JPM
MRK	- 0.67	META
MRK	- 0.6	T
XOM	- 0.51	MRK
JPM	- 0.35	A

Innovator Competition 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
META	1.08	0.06	0.01	0.26	1.21	(1.26)	2.62	(1.87)	8.02
MSFT	0.89	(0.09)	(0.08)	0.06	1.43	(0.87)	2.08	(1.85)	8.19
UBER	1.59	(0.10)	(0.04)	0.08	2.03	(1.78)	2.97	(2.34)	20.10
F	1.42	(0.08)	0.01	0.12	2.23	(1.40)	2.77	(2.54)	11.72
T	0.91	0.24	0.05	(2.74)	1.01	(1.00)	2.56	(1.86)	6.47
A	1.05	(0.11)	0.00	(0.07)	0.00	0.00	2.11	(2.11)	9.02
CRM	1.24	0.28	0.27	0.42	0.66	(1.51)	3.18	(1.60)	7.07
JPM	1.08	(0.07)	0.05	0.13	1.42	(1.11)	2.05	(2.00)	15.87
MRK	0.81	(0.20)	0.00	(2.17)	0.00	0.00	1.68	(2.13)	4.89
XOM	1.04	(0.06)	(0.09)	0.06	1.40	(1.05)	2.14	(2.66)	5.78

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