Innovator Correlations

UJUL Etf

USD 34.75 0.05 0.14%

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

Good diversification

The correlation between Innovator SP 500 and DJI is -0.01 (i.e., Good 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 World Market Map 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

1.0	BUFR	First Trust Cboe	Pair Corr
0.99	BUFD	FT Cboe Vest	Pair Corr
0.99	PSEP	Innovator SP 500	Pair Corr
0.98	PJAN	Innovator SP 500	Pair Corr
1.0	PJUL	Innovator SP 500	Pair Corr
1.0	PAUG	Innovator Equity Power	Pair Corr
0.94	DNOV	FT Cboe Vest	Pair Corr
0.99	PMAY	Innovator SP 500	Pair Corr
1.0	PJUN	Innovator SP 500	Pair Corr
0.89	DSJA	DSJA	Pair Corr
0.85	RSPY	Tuttle Capital Management	Pair Corr
0.82	MEME	Roundhill Investments	Pair Corr
0.87	ITDD	iShares Trust	Pair Corr
0.93	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.87	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.88	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.81	HPQ	HP Inc	Pair Corr
0.63	BAC	Bank of America Aggressive Push	Pair Corr
0.72	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.64	HD	Home Depot Sell-off Trend	Pair Corr

Moving against Innovator Etf

0.79	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.77	KO	Coca Cola Sell-off Trend	Pair Corr
0.53	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.36	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.22	0.55	0.09	0.35	0.09	0.57	0.28	-0.46	0.75	META
MSFT	0.22		0.2	0.22	0.02	0.01	-0.04	-0.13	0.19	-0.22	MSFT
UBER	0.55	0.2		-0.08	-0.04	0.29	0.0	-0.15	0.07	0.35	UBER
F	0.09	0.22	-0.08		0.16	-0.51	0.44	0.63	-0.31	0.2	F
T	0.35	0.02	-0.04	0.16		-0.43	0.77	0.32	-0.78	0.38	T
A	0.09	0.01	0.29	-0.51	-0.43		-0.46	-0.62	0.61	0.0	A
CRM	0.57	-0.04	0.0	0.44	0.77	-0.46		0.72	-0.91	0.64	CRM
JPM	0.28	-0.13	-0.15	0.63	0.32	-0.62	0.72		-0.66	0.42	JPM
MRK	-0.46	0.19	0.07	-0.31	-0.78	0.61	-0.91	-0.66		-0.56	MRK
XOM	0.75	-0.22	0.35	0.2	0.38	0.0	0.64	0.42	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.77	T
XOM	+ 0.75	META
JPM	+ 0.72	CRM
XOM	+ 0.64	CRM
JPM	+ 0.63	F
MRK	+ 0.61	A

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.78	T
MRK	- 0.66	JPM
JPM	- 0.62	A
XOM	- 0.56	MRK
A	- 0.51	F

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	1.10	0.06	0.02	0.21	1.42	(1.19)	2.62	(3.15)	8.02
MSFT	0.92	(0.06)	(0.06)	0.03	1.51	(0.89)	2.09	(1.85)	8.19
UBER	1.65	(0.13)	0.00	(0.01)	0.00	0.00	2.69	(2.53)	20.10
F	1.43	0.02	(0.04)	0.48	2.24	(1.39)	2.53	(2.90)	11.21
T	0.92	0.28	0.15	(7.88)	0.85	(1.05)	2.56	(1.72)	6.47
A	1.21	(0.10)	0.00	(0.10)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.29	0.39	0.23	9.52	0.91	(1.53)	3.18	(1.91)	9.09
JPM	1.15	(0.03)	0.04	0.10	1.40	(1.25)	2.05	(2.00)	15.87
MRK	0.91	(0.21)	0.00	(0.74)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.01	(0.05)	(0.08)	0.02	1.33	(1.07)	2.10	(2.09)	5.74

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC