Innovator Equity Correlations

Etfs . USA . 
Etf . Innovator Equity Accelerated
XTAP Etf  USD 34.49  0.09  0.26%   
The current 90-days correlation between Innovator Equity Acc and Innovator Equity Accelerated is 0.99 (i.e., No risk reduction). 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 0.77 (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.
  
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

  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
  0.95DNOV FT Cboe VestPairCorr
  1.0PMAY Innovator SP 500PairCorr
  1.0PJUN Innovator SP 500PairCorr
  0.97FNGU MicroSectors FANG IndexPairCorr
  0.86USD ProShares Ultra SemiPairCorr
  0.98FNGO MicroSectors FANG IndexPairCorr
  0.84GBTC Grayscale Bitcoin TrustPairCorr
  0.9TECL Direxion Daily TechnologyPairCorr
  0.98FNGS MicroSectors FANG ETNPairCorr
  0.92ROM ProShares Ultra TechPairCorr
  0.97QLD ProShares Ultra QQQPairCorr
  0.75SMH VanEck Semiconductor ETFPairCorr
  0.81DIS Walt DisneyPairCorr
  0.84CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.66XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.91INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.79TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.96CSCO Cisco Systems Aggressive PushPairCorr
  0.75JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.85HPQ HP IncPairCorr
  0.95AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.79HD Home DepotPairCorr
  0.93AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr

Moving against Innovator Etf

  0.84MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.63PFE Pfizer Inc Aggressive PushPairCorr
  0.48PG Procter GamblePairCorr

Related Correlations Analysis

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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.

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