YieldMax Universe Correlations

YMAX Etf

14.10 0.14 1.00%

The current 90-days correlation between YieldMax Universe and Strategy Shares is -0.11 (i.e., Good diversification). The correlation of YieldMax Universe 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.

YieldMax Universe Correlation With Market

Good diversification

The correlation between YieldMax Universe and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding YieldMax Universe and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in YieldMax Universe. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with YieldMax Etf

0.9	XYLD	Global X SP	Pair Corr
0.94	RYLD	Global X Russell	Pair Corr
0.96	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.71	BUYW	Main Buywrite ETF	Pair Corr
0.67	USD	ProShares Ultra Semi	Pair Corr
0.65	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.8	FNGO	MicroSectors FANG Index	Pair Corr
0.65	DUSL	Direxion Daily Indus	Pair Corr
0.73	TECL	Direxion Daily Technology	Pair Corr
0.78	SPXL	Direxion Daily SP500	Pair Corr
0.78	UPRO	ProShares UltraPro SP500	Pair Corr
0.7	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.68	HD	Home Depot	Pair Corr
0.82	AXP	American Express	Pair Corr
0.78	BAC	Bank of America	Pair Corr
0.65	HPQ	HP Inc	Pair Corr

Moving against YieldMax Etf

0.71	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.39	SIXH	ETC 6 Meridian	Pair Corr
0.39	IDME	International Drawdown	Pair Corr
0.65	VZ	Verizon Communications	Pair Corr
0.52	JNJ	Johnson Johnson	Pair Corr
0.49	KO	Coca Cola	Pair Corr
0.44	MCD	McDonalds	Pair Corr
0.42	GDXU	MicroSectors Gold Miners	Pair Corr
0.42	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.31	XOM	Exxon Mobil Corp	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.42	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.69	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.25	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.04	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.57	-0.71	0.17	-0.65	0.58	T
A	0.42	0.69	-0.25	-0.04	-0.57		0.79	0.62	0.1	-0.3	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.79		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.62	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.1	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.3	-0.58	0.07	-0.31		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	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.79	A
A	+ 0.69	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

YieldMax Universe Competition Risk-Adjusted Indicators

There is a big difference between YieldMax Etf performing well and YieldMax Universe 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 YieldMax Universe'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	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.15	(0.15)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

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