Tidal Trust Correlations

JPMO Etf

18.88 0.59 3.03%

The current 90-days correlation between Tidal Trust II and Tidal Trust II is -0.07 (i.e., Good 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

Very weak diversification

The correlation between Tidal Trust II and DJI is 0.5 (i.e., Very weak 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 Risk vs Return 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 various price indices.

Moving together with Tidal Etf

0.61	XYLD	Global X SP	Pair Corr
0.67	DIVO	Amplify CWP Enhanced	Pair Corr
0.77	RYLD	Global X Russell	Pair Corr
0.64	BUYW	Main Buywrite ETF	Pair Corr
0.73	GE	GE Aerospace	Pair Corr

Moving against Tidal Etf

0.42

MCD

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Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.62	-0.43	-0.5	0.58	0.48	0.34	0.62	-0.15	-0.63	META
MSFT	0.62		-0.46	-0.23	0.48	0.2	0.55	0.3	-0.01	-0.46	MSFT
UBER	-0.43	-0.46		0.65	-0.3	0.27	-0.11	-0.25	0.31	0.78	UBER
F	-0.5	-0.23	0.65		0.05	-0.2	0.01	-0.06	0.09	0.9	F
T	0.58	0.48	-0.3	0.05		0.11	0.51	0.59	-0.17	-0.17	T
A	0.48	0.2	0.27	-0.2	0.11		0.1	0.26	0.25	-0.17	A
CRM	0.34	0.55	-0.11	0.01	0.51	0.1		0.0	0.27	-0.16	CRM
JPM	0.62	0.3	-0.25	-0.06	0.59	0.26	0.0		-0.55	-0.24	JPM
MRK	-0.15	-0.01	0.31	0.09	-0.17	0.25	0.27	-0.55		0.16	MRK
XOM	-0.63	-0.46	0.78	0.9	-0.17	-0.17	-0.16	-0.24	0.16		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

XOM	+ 0.9	F
XOM	+ 0.78	UBER
F	+ 0.65	UBER
MSFT	+ 0.62	META
JPM	+ 0.62	META
JPM	+ 0.59	T

High negative correlations

XOM	- 0.63	META
MRK	- 0.55	JPM
F	- 0.5	META
XOM	- 0.46	MSFT
UBER	- 0.46	MSFT
UBER	- 0.43	META

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.41	0.26	0.13	0.73	1.40	(1.61)	3.43	(2.31)	7.43
MSFT	1.12	(0.03)	0.00	(0.42)	0.00	0.00	2.20	(2.79)	7.31
UBER	1.56	(0.23)	0.00	(3.08)	0.00	0.00	2.67	(5.35)	12.29
F	1.47	(0.18)	0.00	(0.20)	0.00	0.00	2.57	(2.90)	11.21
T	1.00	0.10	0.04	0.30	1.08	(1.12)	1.91	(1.84)	7.94
A	1.15	0.13	0.04	1.36	1.14	(1.37)	2.81	(2.16)	5.70
CRM	1.55	0.28	0.13	0.81	1.42	(1.88)	3.96	(2.95)	14.80
JPM	1.05	0.25	0.15	0.96	1.05	(1.23)	1.92	(1.42)	15.87
MRK	1.03	(0.11)	0.00	(0.43)	0.00	0.00	2.00	(2.13)	5.24
XOM	0.82	(0.16)	0.00	(0.28)	0.00	0.00	1.71	(1.74)	6.06

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