Tidal Trust Correlations

GDXY Etf

14.81 0.05 0.34%

The current 90-days correlation between Tidal Trust II and Strategy Shares is 0.27 (i.e., Modest diversification). The correlation of Tidal Trust 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.

Tidal Trust Correlation With Market

Modest diversification

The correlation between Tidal Trust II and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tidal Trust II and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Tidal Trust II. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Tidal Etf

0.76	VIG	Vanguard Dividend	Pair Corr
0.62	RXI	iShares Global Consumer	Pair Corr
0.84	T	ATT Inc Aggressive Push	Pair Corr
0.73	KO	Coca Cola	Pair Corr
0.88	IBM	International Business Sell-off Trend	Pair Corr
0.82	MMM	3M Company	Pair Corr
0.78	JNJ	Johnson Johnson	Pair Corr
0.85	CSCO	Cisco Systems	Pair Corr
0.81	WMT	Walmart Aggressive Push	Pair Corr

Moving against Tidal Etf

0.83	MRK	Merck Company Aggressive Push	Pair Corr
0.44	WGMI	Valkyrie Bitcoin Miners	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.44	0.59	-0.64	0.75	0.3	-0.21	0.85	-0.83	-0.32	META
MSFT	-0.44		-0.65	0.39	-0.6	0.27	0.76	-0.51	0.62	0.01	MSFT
UBER	0.59	-0.65		-0.2	0.75	-0.09	-0.53	0.74	-0.76	0.33	UBER
F	-0.64	0.39	-0.2		-0.38	0.04	0.44	-0.39	0.64	0.74	F
T	0.75	-0.6	0.75	-0.38		-0.17	-0.42	0.69	-0.78	0.04	T
A	0.3	0.27	-0.09	0.04	-0.17		0.3	0.44	0.04	-0.11	A
CRM	-0.21	0.76	-0.53	0.44	-0.42	0.3		-0.31	0.47	0.1	CRM
JPM	0.85	-0.51	0.74	-0.39	0.69	0.44	-0.31		-0.79	-0.04	JPM
MRK	-0.83	0.62	-0.76	0.64	-0.78	0.04	0.47	-0.79		0.17	MRK
XOM	-0.32	0.01	0.33	0.74	0.04	-0.11	0.1	-0.04	0.17		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

JPM	+ 0.85	META
CRM	+ 0.76	MSFT
T	+ 0.75	META
T	+ 0.75	UBER
JPM	+ 0.74	UBER
XOM	+ 0.74	F

High negative correlations

MRK	- 0.83	META
MRK	- 0.79	JPM
MRK	- 0.78	T
MRK	- 0.76	UBER
UBER	- 0.65	MSFT
F	- 0.64	META

Tidal Trust Competition Risk-Adjusted Indicators

There is a big difference between Tidal Etf performing well and Tidal Trust 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 Tidal Trust'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	1.36	0.28	0.17	0.57	1.44	(1.42)	3.22	(2.29)	7.11
MSFT	1.03	(0.05)	0.00	(0.16)	0.00	0.00	2.20	(1.90)	10.31
UBER	1.95	0.16	0.06	3.78	2.78	(1.95)	4.72	(3.13)	12.29
F	1.35	(0.11)	0.00	(0.13)	0.00	0.00	2.55	(2.89)	10.97
T	0.94	0.30	0.27	0.50	0.88	(1.12)	1.90	(1.75)	7.94
A	1.07	(0.03)	0.00	(0.07)	0.00	0.00	2.81	(2.16)	9.03
CRM	1.45	(0.15)	0.00	(0.22)	0.00	0.00	2.21	(3.81)	15.92
JPM	0.89	0.14	0.11	0.15	1.16	(0.97)	1.97	(1.51)	6.85
MRK	1.26	(0.10)	0.00	(2.54)	0.00	0.00	2.15	(2.24)	11.57
XOM	0.91	(0.12)	0.00	(0.43)	0.00	0.00	1.76	(2.14)	5.69

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