YieldMax Correlations

GPTY Etf

43.53 0.04 0.09%

The current 90-days correlation between YieldMax AI Tech and Invesco Exchange Traded is -0.14 (i.e., Good diversification). The correlation of YieldMax 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 Correlation With Market

Significant diversification

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

Build AI portfolio with YieldMax Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in YieldMax AI Tech. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with YieldMax Etf

0.69	PTIR	GraniteShares 2x Long	Pair Corr
0.63	XLK	Technology Select Sector Aggressive Push	Pair Corr

Moving against YieldMax Etf

0.47	KNG	FT Cboe Vest	Pair Corr
0.41	NUGT	Direxion Daily Gold	Pair Corr
0.37	GDXU	MicroSectors Gold Miners	Pair Corr
0.34	JNUG	Direxion Daily Junior	Pair Corr
0.35	SIXS	6 Meridian Small	Pair Corr
0.32	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.47	FROG	Jfrog	Pair Corr
0.32	SIL	Global X Silver	Pair Corr

Related Correlations Analysis

	GRPZ	TEKX	EKG	MCHS	VYLD	PCEM	NZUS	ZSC	CTWO	EAFG
GRPZ		-0.06	0.45	0.33	0.81	0.4	0.48	-0.01	0.53	0.79	GRPZ
TEKX	-0.06		-0.06	0.2	-0.19	0.4	0.46	0.21	-0.13	0.06	TEKX
EKG	0.45	-0.06		-0.45	0.57	-0.32	0.54	0.47	0.74	0.45	EKG
MCHS	0.33	0.2	-0.45		0.15	0.78	0.23	-0.43	-0.31	0.28	MCHS
VYLD	0.81	-0.19	0.57	0.15		0.26	0.48	0.13	0.69	0.86	VYLD
PCEM	0.4	0.4	-0.32	0.78	0.26		0.39	-0.29	-0.19	0.39	PCEM
NZUS	0.48	0.46	0.54	0.23	0.48	0.39		0.27	0.42	0.51	NZUS
ZSC	-0.01	0.21	0.47	-0.43	0.13	-0.29	0.27		0.49	0.13	ZSC
CTWO	0.53	-0.13	0.74	-0.31	0.69	-0.19	0.42	0.49		0.66	CTWO
EAFG	0.79	0.06	0.45	0.28	0.86	0.39	0.51	0.13	0.66		EAFG
	GRPZ	TEKX	EKG	MCHS	VYLD	PCEM	NZUS	ZSC	CTWO	EAFG

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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

EAFG	+ 0.86	VYLD
VYLD	+ 0.81	GRPZ
EAFG	+ 0.79	GRPZ
PCEM	+ 0.78	MCHS
CTWO	+ 0.74	EKG
CTWO	+ 0.69	VYLD

High negative correlations

MCHS	- 0.45	EKG
ZSC	- 0.43	MCHS
PCEM	- 0.32	EKG
CTWO	- 0.31	MCHS
ZSC	- 0.29	PCEM
CTWO	- 0.19	PCEM

YieldMax Constituents Risk-Adjusted Indicators

There is a big difference between YieldMax Etf performing well and YieldMax 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'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
GRPZ	0.84	(0.05)	(0.04)	0.02	1.00	(0.96)	1.86	(1.84)	4.38
TEKX	1.78	(0.07)	(0.01)	0.02	2.50	(1.58)	3.39	(3.78)	9.69
EKG	0.81	0.14	0.12	0.21	0.88	(0.88)	1.86	(1.18)	4.70
MCHS	0.86	(0.05)	0.00	(0.07)	0.00	0.00	1.50	(1.61)	6.19
VYLD	0.53	0.07	0.01	(0.91)	0.73	(0.54)	1.59	(1.24)	3.33
PCEM	0.60	(0.02)	0.00	(0.08)	0.00	0.00	1.09	(1.45)	3.68
NZUS	0.64	0.02	0.01	0.08	0.87	(0.59)	1.40	(1.33)	3.57
ZSC	0.62	0.19	0.14	(1.82)	0.61	(0.70)	1.36	(1.03)	5.80
CTWO	0.86	0.17	0.08	1.73	1.03	(1.03)	1.88	(1.67)	7.34
EAFG	0.66	0.09	0.04	0.55	0.78	(0.66)	1.29	(1.30)	3.78

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