Tidal Trust Correlations

TSLY Etf   12.81  0.28  2.14%   
The current 90-days correlation between Tidal Trust II and Tidal Trust II is 0.73 (i.e., Poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Tidal Trust Correlation With Market

Weak diversification

The correlation between Tidal Trust II and DJI is 0.38 (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 bureau of economic analysis.

Moving together with Tidal Etf

  0.82JEPQ JPMorgan Nasdaq EquityPairCorr
  0.81NUSI NEOS ETF TrustPairCorr
  0.63BA BoeingPairCorr
  0.69IBM International BusinessPairCorr
  0.74MSFT MicrosoftPairCorr

Moving against Tidal Etf

  0.31SIXH ETC 6 MeridianPairCorr
  0.6XOM Exxon Mobil Corp Earnings Call TomorrowPairCorr
  0.48HPQ HP IncPairCorr
  0.41PFE Pfizer Inc Earnings Call This WeekPairCorr
  0.34AA Alcoa CorpPairCorr

Related Correlations Analysis

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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   
XOMF
XOMUBER
AMETA
MSFTMETA
CRMT
JPMA
  
High negative correlations   
CRMUBER
XOMMETA
MRKJPM
FMETA
XOMMSFT
UBERMSFT

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.39  0.25  0.13  0.74  1.40 
 3.43 
 7.43 
MSFT  1.02  0.06 (0.01) 0.63  1.57 
 2.20 
 7.31 
UBER  1.58 (0.26) 0.00 (2.57) 0.00 
 2.67 
 12.29 
F  1.49 (0.13) 0.00 (0.15) 0.00 
 2.57 
 11.21 
T  1.01  0.10  0.05  0.27  1.10 
 1.91 
 7.94 
A  1.18  0.12  0.06  0.33  1.13 
 2.81 
 8.06 
CRM  1.51  0.32  0.16  1.11  1.42 
 3.70 
 14.80 
JPM  1.05  0.26  0.16  1.00  1.05 
 1.92 
 15.87 
MRK  1.03 (0.13) 0.00 (0.52) 0.00 
 2.00 
 5.24 
XOM  0.82 (0.18) 0.00 (0.33) 0.00 
 1.71 
 6.06