Innovator Growth Correlations

Etfs . USA . 
Etf . Innovator Growth 100 Accelerated
XDQQ Etf  USD 33.72  0.19  0.57%   
The current 90-days correlation between Innovator Growth 100 and Innovator Equity Accelerated is 0.91 (i.e., Almost no diversification). The correlation of Innovator Growth 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 Growth Correlation With Market

Poor diversification

The correlation between Innovator Growth 100 Accelerat and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innovator Growth 100 Accelerat 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 Growth 100 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 producer price index.

Moving together with Innovator Etf

  0.98SSO ProShares Ultra SP500PairCorr
  0.98SPXL Direxion Daily SP500PairCorr
  0.99QLD ProShares Ultra QQQPairCorr
  0.98UPRO ProShares UltraPro SP500PairCorr
  0.94TECL Direxion Daily TechnologyPairCorr
  0.66GUSH Direxion Daily SP Potential GrowthPairCorr
  0.97FNGU MicroSectors FANG IndexPairCorr
  0.84UYG ProShares Ultra FinaPairCorr
  0.89NVDL GraniteShares 15x LongPairCorr
  0.89NVDX T Rex 2XPairCorr
  0.89NVDU Direxion Daily NVDAPairCorr
  0.89CRPT First Trust SkyBridgePairCorr
  0.79BITX Volatility Shares TrustPairCorr
  0.77CONL GraniteShares ETF TrustPairCorr
  0.88DAPP VanEck Digital TransPairCorr
  0.78DPST Direxion Daily RegionalPairCorr
  0.89WGMI Valkyrie Bitcoin MinersPairCorr
  0.96EOS Eaton Vance EnhancedPairCorr
  0.77ETH Grayscale Ethereum MiniPairCorr
  0.8HPQ HP IncPairCorr
  0.77T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.75TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.82BAC Bank of America Aggressive PushPairCorr
  0.78DIS Walt Disney Sell-off TrendPairCorr
  0.95CSCO Cisco Systems Sell-off TrendPairCorr
  0.67XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr
  0.92INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.92AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.83WMT Walmart Aggressive PushPairCorr

Moving against Innovator Etf

  0.73NRGU Bank Of MontrealPairCorr
  0.83JNJ Johnson Johnson Sell-off TrendPairCorr
  0.79KO Coca Cola Aggressive PushPairCorr
  0.69BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.65PFE Pfizer Inc Aggressive PushPairCorr

Related Correlations Analysis

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Innovator Growth Constituents Risk-Adjusted Indicators

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