Tidal Trust Correlations

TIME Etf

USD 24.42 0.27 1.09%

The current 90-days correlation between Tidal Trust II and Tegna Inc is 0.19 (i.e., Average diversification). The correlation of Tidal Trust 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.

Tidal Trust Correlation With Market

Weak diversification

The correlation between Tidal Trust II and DJI is 0.39 (i.e., 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 World Market Map 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 signals in population.

Moving together with Tidal Etf

0.61	VGT	Vanguard Information	Pair Corr
0.67	XLK	Technology Select Sector	Pair Corr
0.7	IYW	iShares Technology ETF	Pair Corr
0.77	CIBR	First Trust NASDAQ	Pair Corr
0.61	FTEC	Fidelity MSCI Information	Pair Corr
0.75	IGV	iShares Expanded Tech	Pair Corr
0.89	FDN	First Trust Dow	Pair Corr
0.88	IGM	iShares Expanded Tech	Pair Corr
0.83	QLD	ProShares Ultra QQQ	Pair Corr
0.81	SPXL	Direxion Daily SP500	Pair Corr
0.81	UPRO	ProShares UltraPro SP500	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.49	0.66	-0.58	0.71	0.2	-0.2	0.87	-0.84	-0.13	META
MSFT	-0.49		-0.67	0.53	-0.69	0.39	0.82	-0.48	0.63	0.04	MSFT
UBER	0.66	-0.67		-0.3	0.77	-0.16	-0.57	0.73	-0.78	0.36	UBER
F	-0.58	0.53	-0.3		-0.39	0.21	0.47	-0.38	0.67	0.63	F
T	0.71	-0.69	0.77	-0.39		-0.33	-0.52	0.63	-0.76	0.1	T
A	0.2	0.39	-0.16	0.21	-0.33		0.47	0.38	0.11	0.07	A
CRM	-0.2	0.82	-0.57	0.47	-0.52	0.47		-0.26	0.46	0.05	CRM
JPM	0.87	-0.48	0.73	-0.38	0.63	0.38	-0.26		-0.78	0.09	JPM
MRK	-0.84	0.63	-0.78	0.67	-0.76	0.11	0.46	-0.78		0.08	MRK
XOM	-0.13	0.04	0.36	0.63	0.1	0.07	0.05	0.09	0.08		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

JPM	+ 0.87	META
CRM	+ 0.82	MSFT
T	+ 0.77	UBER
JPM	+ 0.73	UBER
T	+ 0.71	META
MRK	+ 0.67	F

High negative correlations

MRK	- 0.84	META
MRK	- 0.78	JPM
MRK	- 0.78	UBER
MRK	- 0.76	T
T	- 0.69	MSFT
UBER	- 0.67	MSFT

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	1.43	0.26	0.16	0.31	1.56	(1.45)	3.22	(2.30)	7.11
MSFT	1.05	(0.06)	0.00	(0.21)	0.00	0.00	2.56	(2.14)	10.31
UBER	1.90	0.13	0.07	5.75	2.78	(1.88)	4.72	(3.13)	12.28
F	1.38	(0.08)	0.00	(0.14)	0.00	0.00	2.55	(2.89)	10.14
T	1.03	0.26	0.18	0.32	1.36	(1.13)	1.90	(1.97)	11.66
A	1.14	(0.04)	0.00	(0.11)	0.00	0.00	2.81	(2.53)	9.03
CRM	1.45	(0.18)	0.00	(0.29)	0.00	0.00	2.21	(3.81)	15.92
JPM	0.95	0.08	0.05	0.02	1.46	(0.95)	1.97	(1.73)	6.85
MRK	1.24	(0.11)	0.00	(2.67)	0.00	0.00	2.15	(2.24)	11.57
XOM	0.94	(0.13)	0.00	(0.31)	0.00	0.00	1.76	(2.50)	5.89

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