Tidal Trust Correlations

MARO Etf   33.31  0.11  0.33%   
The current 90-days correlation between Tidal Trust II and Vanguard Total Stock is 0.47 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tidal Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tidal Trust II moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Tidal Trust Correlation With Market

TidalDowDiversified AwayTidalDowDiversified Away100%

Good diversification

The correlation between Tidal Trust II and DJI is -0.02 (i.e., Good 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 Correlation 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 metropolitan statistical area.

Moving together with Tidal Etf

  0.67MSFT MicrosoftPairCorr

Moving against Tidal Etf

  0.49VTV Vanguard Value Index Sell-off TrendPairCorr
  0.44GE GE Aerospace Sell-off TrendPairCorr
  0.36HPQ HP IncPairCorr
  0.34VO Vanguard Mid CapPairCorr
  0.31PG Procter GamblePairCorr
  0.68JNJ Johnson JohnsonPairCorr
  0.46INTC Intel Aggressive PushPairCorr
  0.4CVX Chevron CorpPairCorr
  0.37AA Alcoa CorpPairCorr
  0.36BAC Bank of AmericaPairCorr
  0.35VZ Verizon Communications Sell-off TrendPairCorr
  0.35DD Dupont De NemoursPairCorr

Related Correlations Analysis

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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   
XOMF
TMETA
JPMMETA
JPMT
JPMA
CRMMSFT
  
High negative correlations   
MRKJPM
MRKT
MRKMETA
FMETA
MRKUBER
UBERMSFT

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.22  0.34  0.21  0.81  1.22 
 3.22 
 7.11 
MSFT  0.99 (0.05) 0.00 (0.20) 0.00 
 2.20 
 10.31 
UBER  1.85  0.18  0.06 (1.34) 2.79 
 4.72 
 12.29 
F  1.35 (0.21) 0.00 (0.31) 0.00 
 2.46 
 11.01 
T  0.94  0.24  0.21  0.39  0.93 
 1.91 
 7.94 
A  1.13 (0.02) 0.00 (0.02) 0.00 
 2.81 
 6.12 
CRM  1.50  0.04  0.02  0.07  1.83 
 3.70 
 15.92 
JPM  0.80  0.24  0.24  0.40  0.73 
 1.92 
 5.01 
MRK  1.18 (0.31) 0.00 (1.07) 0.00 
 2.00 
 11.57 
XOM  0.89 (0.15) 0.00 (0.26) 0.00 
 1.72 
 5.69 

Trending Assets

VTI
Vanguard Total Stock
301.84  -0.04  -0.01 
VEA
Vanguard FTSE Developed
51.51  0.02  0.04 
SPY
SPDR SP 500
609.70  0.00  0.00 
VWO
Vanguard FTSE Emerging
45.88  0.28  0.61