YieldMax HOOD Correlations

HOOY Etf

50.85 0.35 0.69%

The current 90-days correlation between YieldMax HOOD Option and 2023 EFT Series is 0.33 (i.e., Weak diversification). The correlation of YieldMax HOOD 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 HOOD Correlation With Market

Very weak diversification

The correlation between YieldMax HOOD Option and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding YieldMax HOOD Option 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 HOOD Option. 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 YieldMax Etf

0.62

PTIR

GraniteShares 2x Long

Pair Corr

Moving against YieldMax Etf

0.6	XYLD	Global X SP	Pair Corr
0.56	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.56	AGQ	ProShares Ultra Silver	Pair Corr
0.47	KNG	FT Cboe Vest	Pair Corr
0.47	BUYW	Main Buywrite ETF	Pair Corr
0.45	DIVO	Amplify CWP Enhanced	Pair Corr
0.43	JEPI	JPMorgan Equity Premium	Pair Corr
0.38	MUU	Direxion Daily MU Trending	Pair Corr
0.37	NUGT	Direxion Daily Gold	Pair Corr
0.37	MULL	GraniteShares 2x Long Trending	Pair Corr
0.31	JNUG	Direxion Daily Junior	Pair Corr
0.7	IBTG	iShares iBonds Dec	Pair Corr
0.56	MYCI	SPDR SSGA My2029	Pair Corr
0.51	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.47	HYSD	Columbia ETF Trust	Pair Corr
0.46	SIXS	6 Meridian Small	Pair Corr
0.46	CPSU	Calamos SP 500	Pair Corr
0.44	GBUG	Sprott Active Gold	Pair Corr
0.39	SHNY	Microsectors Gold	Pair Corr
0.32	QLC	FlexShares Quality Large	Pair Corr
0.72	FROG	Jfrog	Pair Corr
0.71	PHT	PHT	Pair Corr
0.68	CLOX	Series Portfolios Trust	Pair Corr
0.51	ZJAN	Innovator Equity Defined	Pair Corr
0.5	PBJA	PGIM Rock ETF	Pair Corr
0.5	SGOL	abrdn Physical Gold	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.54	-0.62	0.54	-0.57	0.22	-0.15	-0.56	-0.61	META
MSFT	0.66		0.83	-0.51	0.36	-0.2	0.07	-0.32	-0.77	-0.61	MSFT
UBER	0.54	0.83		-0.61	0.57	-0.27	-0.14	-0.27	-0.85	-0.59	UBER
F	-0.62	-0.51	-0.61		-0.7	0.53	0.3	0.41	0.69	0.75	F
T	0.54	0.36	0.57	-0.7		-0.52	-0.5	-0.21	-0.53	-0.47	T
A	-0.57	-0.2	-0.27	0.53	-0.52		-0.18	-0.26	0.46	0.23	A
CRM	0.22	0.07	-0.14	0.3	-0.5	-0.18		0.37	0.07	0.17	CRM
JPM	-0.15	-0.32	-0.27	0.41	-0.21	-0.26	0.37		0.32	0.41	JPM
MRK	-0.56	-0.77	-0.85	0.69	-0.53	0.46	0.07	0.32		0.65	MRK
XOM	-0.61	-0.61	-0.59	0.75	-0.47	0.23	0.17	0.41	0.65		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

UBER	+ 0.83	MSFT
XOM	+ 0.75	F
MRK	+ 0.69	F
MSFT	+ 0.66	META
XOM	+ 0.65	MRK
T	+ 0.57	UBER

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.77	MSFT
T	- 0.7	F
F	- 0.62	META
F	- 0.61	UBER
XOM	- 0.61	MSFT

YieldMax HOOD Competition Risk-Adjusted Indicators

There is a big difference between YieldMax Etf performing well and YieldMax HOOD 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 HOOD'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	1.39	(0.24)	0.00	(0.19)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.90	(0.11)	0.00	(0.11)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.35)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.13	0.08	0.16	1.69	(1.65)	3.38	(2.63)	16.30
T	0.97	(0.24)	0.00	(0.75)	0.00	0.00	1.61	(2.18)	5.75
A	1.25	0.07	0.06	0.13	1.31	(1.37)	2.34	(2.21)	11.03
CRM	1.54	0.06	0.03	0.13	1.97	(1.52)	3.66	(2.92)	9.91
JPM	1.05	0.00	0.01	0.07	1.40	(1.05)	2.00	(1.91)	7.02
MRK	1.45	0.40	0.28	0.53	1.08	(1.84)	4.85	(2.06)	11.45
XOM	0.94	0.06	0.01	0.33	0.99	(1.00)	1.96	(1.51)	4.99

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