Tidal Trust Correlations
| HF Etf | USD 23.11 0.01 0.04% |
The current 90-days correlation between Tidal Trust II and iShares Core Aggressive is 0.75 (i.e., Poor 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.
Tidal Trust Correlation With Market
Very weak diversification
The correlation between Tidal Trust II and DJI is 0.58 (i.e., Very weak 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.
Tidal |
Moving together with Tidal Etf
| 0.66 | AOA | iShares Core Aggressive | PairCorr |
| 0.71 | RLY | SPDR SSgA Multi | PairCorr |
| 0.64 | GAL | SPDR SSgA Global | PairCorr |
| 0.63 | PPI | Investment Managers | PairCorr |
| 0.72 | IBM | International Business Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.61 | HD | Home Depot Sell-off Trend | PairCorr |
Related Correlations Analysis
| 0.86 | 0.98 | 0.84 | 0.79 | 0.36 | AOA | ||
| 0.86 | 0.89 | 0.88 | 0.77 | 0.54 | RLY | ||
| 0.98 | 0.89 | 0.83 | 0.84 | 0.45 | GAL | ||
| 0.84 | 0.88 | 0.83 | 0.71 | 0.4 | PPI | ||
| 0.79 | 0.77 | 0.84 | 0.71 | 0.44 | GAA | ||
| 0.36 | 0.54 | 0.45 | 0.4 | 0.44 | GYLD | ||
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Tidal Trust Constituents 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AOA | 0.43 | (0.04) | (0.16) | 0.05 | 0.53 | 0.98 | 2.69 | |||
| RLY | 0.48 | (0.04) | (0.16) | 0.01 | 0.72 | 1.05 | 2.51 | |||
| GAL | 0.37 | (0.03) | (0.20) | 0.05 | 0.43 | 0.72 | 2.28 | |||
| PPI | 0.53 | 0.02 | (0.11) | 0.74 | 0.73 | 1.02 | 3.57 | |||
| GAA | 0.42 | (0.03) | (0.19) | 0.03 | 0.54 | 1.04 | 2.78 | |||
| GYLD | 0.40 | (0.03) | (0.15) | (0.02) | 0.70 | 0.85 | 3.29 |