YieldMax Target Correlations

RNTY Etf

52.39 0.44 0.85%

The current 90-days correlation between YieldMax Target 12 and JP Morgan Exchange Traded is 0.28 (i.e., Modest diversification). The correlation of YieldMax Target 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 Target Correlation With Market

Poor diversification

The correlation between YieldMax Target 12 and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding YieldMax Target 12 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with YieldMax Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in YieldMax Target 12. 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

0.92	JEPI	JPMorgan Equity Premium	Pair Corr
0.75	XYLD	Global X SP	Pair Corr
0.78	DIVO	Amplify CWP Enhanced	Pair Corr
0.83	RYLD	Global X Russell	Pair Corr
0.91	KNG	FT Cboe Vest	Pair Corr
0.67	BUYW	Main Buywrite ETF	Pair Corr
0.9	IDME	International Drawdown Low Volatility	Pair Corr
0.63	GDXU	MicroSectors Gold Miners	Pair Corr
0.7	JNUG	Direxion Daily Junior	Pair Corr
0.75	NUGT	Direxion Daily Gold	Pair Corr
0.78	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.94	KORU	Direxion Daily South	Pair Corr
0.8	DGP	DB Gold Double	Pair Corr
0.76	HCMAX	THE HILLMAN FUND	Pair Corr
0.69	RSST	Return Stacked Stocks	Pair Corr
0.9	DFIV	Dimensional International Sell-off Trend	Pair Corr
0.89	AVDS	Avantis International	Pair Corr
0.87	UEVM	VictoryShares Emerging	Pair Corr
0.72	QTAP	Innovator Growth 100	Pair Corr
0.85	DFE	WisdomTree Europe	Pair Corr
0.94	PID	Invesco International	Pair Corr
0.9	RHRX	Starboard Investment	Pair Corr
0.92	FIDU	Fidelity MSCI Industrials	Pair Corr
0.86	FTCS	First Trust Capital	Pair Corr
0.9	STXV	EA Series Trust	Pair Corr
0.8	EAFG	Pacer Funds Trust	Pair Corr
0.8	IJS	iShares SP Small	Pair Corr
0.9	DISV	Dimensional ETF Trust	Pair Corr
0.88	ILOW	AB Active ETFs	Pair Corr
0.92	VYMI	Vanguard International	Pair Corr

Moving against YieldMax Etf

0.75

BULZ

MicroSectors Solactive

Pair Corr

Related Correlations Analysis

	PSCX	EGGS	RETL	NITE	NXTI	HEQQ	MFUL	PWS	JFLI
PSCX		-0.21	0.7	0.44	-0.19	0.64	0.78	0.75	0.83	PSCX
EGGS	-0.21		-0.02	0.43	0.72	0.39	-0.45	-0.11	-0.42	EGGS
RETL	0.7	-0.02		0.68	0.23	0.52	0.34	0.5	0.38	RETL
NITE	0.44	0.43	0.68		0.69	0.72	-0.14	0.27	-0.06	NITE
NXTI	-0.19	0.72	0.23	0.69		0.35	-0.7	-0.29	-0.65	NXTI
HEQQ	0.64	0.39	0.52	0.72	0.35		0.26	0.56	0.34	HEQQ
MFUL	0.78	-0.45	0.34	-0.14	-0.7	0.26		0.69	0.99	MFUL
PWS	0.75	-0.11	0.5	0.27	-0.29	0.56	0.69		0.75	PWS
JFLI	0.83	-0.42	0.38	-0.06	-0.65	0.34	0.99	0.75		JFLI
	PSCX	EGGS	RETL	NITE	NXTI	HEQQ	MFUL	PWS	JFLI

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

JFLI	+ 0.99	MFUL
JFLI	+ 0.83	PSCX
MFUL	+ 0.78	PSCX
PWS	+ 0.75	PSCX
JFLI	+ 0.75	PWS
NXTI	+ 0.72	EGGS

High negative correlations

MFUL	- 0.7	NXTI
JFLI	- 0.65	NXTI
MFUL	- 0.45	EGGS
JFLI	- 0.42	EGGS
PWS	- 0.29	NXTI
EGGS	- 0.21	PSCX

YieldMax Target Constituents Risk-Adjusted Indicators

There is a big difference between YieldMax Etf performing well and YieldMax Target 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 Target'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
PSCX	0.22	0.01	(0.12)	0.13	0.16	(0.25)	0.45	(0.42)	1.82
EGGS	1.00	(0.05)	(0.04)	0.01	1.77	(0.91)	2.20	(2.54)	8.39
RETL	2.74	0.10	0.10	0.11	2.54	(3.59)	5.51	(5.50)	20.07
NITE	0.92	(0.01)	(0.01)	0.07	1.24	(0.88)	2.07	(2.20)	6.28
NXTI	0.89	(0.10)	0.00	(0.01)	0.00	0.00	1.32	(2.01)	6.32
HEQQ	0.49	(0.01)	(0.08)	0.06	0.64	(0.47)	0.92	(1.22)	3.04
MFUL	0.17	0.02	(0.14)	0.18	0.00	(0.19)	0.37	(0.32)	1.24
PWS	0.54	0.01	(0.03)	0.09	0.60	(0.59)	1.41	(1.30)	3.89
JFLI	0.36	0.07	0.05	0.22	0.22	(0.41)	0.74	(0.81)	2.63

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