Tidal ETF Correlations

GVLU Etf

USD 23.76 0.02 0.08%

The current 90-days correlation between Tidal ETF Trust and Gotham Enhanced 500 is 0.78 (i.e., Poor diversification). The correlation of Tidal ETF 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 ETF Correlation With Market

Modest diversification

The correlation between Tidal ETF Trust and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tidal ETF Trust 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 ETF Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Tidal Etf

0.94	VOE	Vanguard Mid Cap	Pair Corr
0.7	SDY	SPDR SP Dividend	Pair Corr
0.98	IWS	iShares Russell Mid	Pair Corr
0.85	SPYD	SPDR Portfolio SP	Pair Corr
0.98	COWZ	Pacer Cash Cows Sell-off Trend	Pair Corr
0.92	IJJ	iShares SP Mid	Pair Corr
0.95	DON	WisdomTree MidCap	Pair Corr
0.88	RPV	Invesco SP 500	Pair Corr
0.95	PEY	Invesco High Yield	Pair Corr
0.94	PKW	Invesco BuyBack Achievers	Pair Corr
0.72	UPRO	ProShares UltraPro SP500	Pair Corr
0.76	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.65	BAC	Bank of America Earnings Call This Week	Pair Corr
0.69	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.84	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.78	AA	Alcoa Corp Earnings Call This Week	Pair Corr

Moving against Tidal Etf

0.43

PFE

Pfizer Inc Aggressive Push

Pair Corr

Related Correlations Analysis

	GSPY	HAPY	ZIG	GSUS	GUSA
GSPY		0.9	0.64	0.99	0.99	GSPY
HAPY	0.9		0.9	0.86	0.89	HAPY
ZIG	0.64	0.9		0.58	0.63	ZIG
GSUS	0.99	0.86	0.58		1.0	GSUS
GUSA	0.99	0.89	0.63	1.0		GUSA
	GSPY	HAPY	ZIG	GSUS	GUSA

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Tidal ETF Constituents Risk-Adjusted Indicators

There is a big difference between Tidal Etf performing well and Tidal ETF 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 ETF'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
GSPY	0.57	0.05	0.06	0.31	0.78	(0.60)	1.13	(1.10)	5.32
HAPY	0.66	0.03	0.04	0.13	0.83	(0.69)	1.40	(1.15)	6.97
ZIG	0.78	(0.01)	0.00	(0.03)	0.00	0.00	1.56	(1.73)	8.80
GSUS	0.59	0.06	0.07	0.37	0.81	(0.61)	1.11	(1.17)	5.59
GUSA	0.61	0.06	0.07	0.38	0.81	(0.58)	0.98	(1.19)	5.72

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