Innovator IBD Correlations

Etfs . USA . 
Etf . Innovator IBD 50
FFTY Etf  USD 29.55  0.39  1.30%   
The current 90-days correlation between Innovator IBD 50 and Invesco NASDAQ 100 is 0.74 (i.e., Poor diversification). The correlation of Innovator IBD 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 IBD Correlation With Market

Modest diversification

The correlation between Innovator IBD 50 and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator IBD 50 and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Innovator IBD 50. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Innovator Etf

  0.98VOT Vanguard Mid CapPairCorr
  0.98IWP iShares Russell MidPairCorr
  0.93ARKK ARK Innovation ETFPairCorr
  0.86IJK iShares SP MidPairCorr
  0.98JKH iShares Morningstar MidPairCorr
  0.97KOMP SPDR Kensho NewPairCorr
  0.86MDYG SPDR SP 400PairCorr
  0.98IMCG iShares Morningstar MidPairCorr
  0.99FPX First Trust EquityPairCorr
  0.86IVOG Vanguard SP MidPairCorr
  0.97VTI Vanguard Total StockPairCorr
  0.96SPY SPDR SP 500 Aggressive PushPairCorr
  0.96IVV iShares Core SPPairCorr
  0.89VUG Vanguard Growth IndexPairCorr
  0.91VO Vanguard Mid CapPairCorr
  0.94VB Vanguard Small CapPairCorr
  0.88QJUN First Trust ExchangePairCorr
  0.93FNCL Fidelity MSCI FinancialsPairCorr
  0.94TRFK Pacer Funds TrustPairCorr
  0.79QYLD Global X NASDAQPairCorr
  0.96DAT ProShares Big DataPairCorr
  0.92ETHE Grayscale Ethereum TrustPairCorr
  0.84BULZ MicroSectors SolactivePairCorr
  0.95SNPE Xtrackers SP 500PairCorr
  0.86FELG Fidelity Covington TrustPairCorr
  0.8AMZU Direxion Daily AMZNPairCorr
  0.91JEPQ JPMorgan Nasdaq EquityPairCorr
  0.97IPAY Amplify ETF TrustPairCorr
  0.93ENFR Alerian Energy InfraPairCorr
  0.93AIPI REX AI EquityPairCorr
  0.84BSCO Invesco BulletShares 2024PairCorr
  0.62TBX ProShares Short 7PairCorr
  0.92NERD Roundhill Video GamesPairCorr
  0.81RXI iShares Global ConsumerPairCorr
  0.88XLY Consumer DiscretionaryPairCorr

Moving against Innovator Etf

  0.34BND Vanguard Total Bond Sell-off TrendPairCorr
  0.61VEA Vanguard FTSE DevelopedPairCorr

Related Correlations Analysis

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Innovator IBD Constituents Risk-Adjusted Indicators

There is a big difference between Innovator Etf performing well and Innovator IBD 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 IBD'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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