Tidal ETF Correlations

LBAY Etf

USD 26.54 0.09 0.34%

The current 90-days correlation between Tidal ETF Trust and KFA Mount Lucas is 0.17 (i.e., Average diversification). The correlation of Tidal ETF 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.

Tidal ETF Correlation With Market

Very weak diversification

The correlation between Tidal ETF Trust and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tidal ETF Trust 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 ETF Trust. 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 Tidal Etf

0.77	BND	Vanguard Total Bond	Pair Corr
0.78	VEA	Vanguard FTSE Developed	Pair Corr

Moving against Tidal Etf

0.79	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.73	FFHG	FFHG	Pair Corr
0.71	SENT	AdvisorShares	Pair Corr
0.71	ETH	Grayscale Ethereum Mini	Pair Corr
0.7	CLSE	Trust For Professional	Pair Corr
0.7	VUG	Vanguard Growth Index	Pair Corr
0.66	VB	Vanguard Small Cap	Pair Corr
0.64	FTLS	First Trust LongShort	Pair Corr
0.63	VTI	Vanguard Total Stock	Pair Corr
0.61	VO	Vanguard Mid Cap	Pair Corr
0.6	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.6	IVV	iShares Core SP	Pair Corr
0.59	BUG	Global X Cybersecurity	Pair Corr
0.54	XLK	Technology Select Sector	Pair Corr
0.52	ASPY	ASPY	Pair Corr
0.39	VTV	Vanguard Value Index	Pair Corr
0.82	MSTY	YieldMax MSTR Option	Pair Corr
0.81	IBIT	iShares Bitcoin Trust Aggressive Push	Pair Corr
0.81	BTC	Grayscale Bitcoin Mini	Pair Corr
0.8	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.78	MAGS	Roundhill Magnificent	Pair Corr
0.77	XLC	Communication Services Sell-off Trend	Pair Corr
0.75	FDN	First Trust Dow	Pair Corr
0.73	USFR	WisdomTree Floating Rate	Pair Corr
0.72	DISO	Tidal Trust II	Pair Corr
0.71	XLF	Financial Select Sector Aggressive Push	Pair Corr
0.69	PUTW	WisdomTree CBOE SP	Pair Corr
0.68	VONG	Vanguard Russell 1000	Pair Corr
0.64	OEF	iShares SP 100	Pair Corr
0.6	VOO	Vanguard SP 500	Pair Corr
0.56	VIS	Vanguard Industrials	Pair Corr
0.52	DIVG	Invesco Exchange Traded	Pair Corr

Related Correlations Analysis

	KMLM	BTAL	DBMF	FTLS	CTA
KMLM		0.7	0.59	-0.8	-0.65	KMLM
BTAL	0.7		0.31	-0.86	-0.57	BTAL
DBMF	0.59	0.31		-0.58	-0.69	DBMF
FTLS	-0.8	-0.86	-0.58		0.73	FTLS
CTA	-0.65	-0.57	-0.69	0.73		CTA
	KMLM	BTAL	DBMF	FTLS	CTA

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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

CTA	+ 0.73	FTLS
BTAL	+ 0.7	KMLM
DBMF	+ 0.59	KMLM
DBMF	+ 0.31	BTAL

High negative correlations

FTLS	- 0.86	BTAL
FTLS	- 0.8	KMLM
CTA	- 0.69	DBMF
CTA	- 0.65	KMLM
FTLS	- 0.58	DBMF
CTA	- 0.57	BTAL

Tidal ETF Constituents Risk-Adjusted Indicators

There is a big difference between Tidal Etf performing well and Tidal ETF 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 ETF'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
KMLM	0.55	(0.11)	0.00	(2.04)	0.00	0.00	1.32	(1.17)	3.36
BTAL	0.68	(0.03)	0.00	0.18	0.00	0.00	1.33	(1.57)	3.84
DBMF	0.34	(0.07)	0.00	(0.11)	0.00	0.00	0.51	(0.83)	2.11
FTLS	0.45	(0.02)	(0.12)	0.09	0.53	(0.47)	1.01	(0.87)	3.05
CTA	0.57	0.10	(0.04)	(10.86)	0.43	(0.69)	1.33	(0.77)	4.01

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