Tidal ETF Correlations

JOJO Etf

USD 15.17 0.23 1.54%

The current 90-days correlation between Tidal ETF Trust and ATAC Rotation ETF is 0.63 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tidal ETF moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tidal ETF Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Tidal ETF Correlation With Market

Weak diversification

The correlation between Tidal ETF Trust and DJI is 0.35 (i.e., Weak 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 inflation.

Moving together with Tidal Etf

0.64	FFIU	Fieldstone UVA Uncon	Pair Corr
0.61	AIQ	Global X Artificial	Pair Corr
0.66	JNJ	Johnson Johnson	Pair Corr
0.61	XOM	Exxon Mobil Corp	Pair Corr

Moving against Tidal Etf

0.32

Boeing

Pair Corr

Related Correlations Analysis

	RORO	ATACX	JSCP	IBTL	LBAY
RORO		0.77	-0.2	0.6	0.8	RORO
ATACX	0.77		-0.07	0.53	0.84	ATACX
JSCP	-0.2	-0.07		0.55	-0.06	JSCP
IBTL	0.6	0.53	0.55		0.7	IBTL
LBAY	0.8	0.84	-0.06	0.7		LBAY
	RORO	ATACX	JSCP	IBTL	LBAY

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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

LBAY	+ 0.84	ATACX
LBAY	+ 0.8	RORO
ATACX	+ 0.77	RORO
LBAY	+ 0.7	IBTL
IBTL	+ 0.6	RORO
IBTL	+ 0.55	JSCP

High negative correlations

JSCP	- 0.2	RORO
JSCP	- 0.07	ATACX
LBAY	- 0.06	JSCP

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
RORO	0.82	(0.14)	0.00	(0.19)	0.00	0.00	1.82	(1.61)	6.12
ATACX	0.74	0.03	0.03	0.05	0.91	(0.78)	1.60	(1.44)	5.16
JSCP	0.09	0.02	0.09	0.27	0.00	(0.11)	0.30	(0.24)	0.58
IBTL	0.25	0.01	0.03	0.10	0.22	(0.29)	0.51	(0.40)	1.48
LBAY	0.61	(0.10)	0.00	(0.35)	0.00	0.00	1.18	(1.78)	4.97

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