Tidal Trust Correlations

ULTY Etf

6.79 0.75 9.95%

The current 90-days correlation between Tidal Trust II and Strategy Shares is 0.5 (i.e., Very weak 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

Very weak diversification

The correlation between Tidal Trust II and DJI is 0.46 (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 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 estimate.

Moving together with Tidal Etf

0.74	RYLD	Global X Russell	Pair Corr
0.67	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.89	UPRO	ProShares UltraPro SP500 Downward Rally	Pair Corr
0.61	QTOC	Innovator ETFs Trust	Pair Corr

Moving against Tidal Etf

0.59	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.54	LDUR	PIMCO Enhanced Low	Pair Corr
0.48	PULS	PGIM Ultra Short	Pair Corr
0.47	SSG	ProShares UltraShort	Pair Corr
0.35	JAAA	Janus Detroit Street Sell-off Trend	Pair Corr
0.85	PSQ	ProShares Short QQQ	Pair Corr
0.54	ULST	SPDR SSgA Ultra	Pair Corr
0.5	FTSM	First Trust Enhanced	Pair Corr
0.5	RAVI	FlexShares Ready Access	Pair Corr
0.48	VTIP	Vanguard Short Term Sell-off Trend	Pair Corr
0.47	ARCM	Arrow Reserve Capital	Pair Corr
0.38	EFAS	Global X MSCI	Pair Corr
0.37	KWT	iShares MSCI Kuwait	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG
DHSB		-0.09	-0.12	-0.11	0.11	0.06	-0.09	-0.11	-0.05	DHSB
MBOX	-0.09		0.51	0.33	-0.08	0.49	0.94	0.72	0.94	MBOX
DIEM	-0.12	0.51		0.78	-0.3	0.24	0.59	0.63	0.49	DIEM
MCHI	-0.11	0.33	0.78		0.03	0.09	0.58	0.81	0.41	MCHI
DIPS	0.11	-0.08	-0.3	0.03		0.16	0.06	0.15	0.07	DIPS
DISO	0.06	0.49	0.24	0.09	0.16		0.47	0.24	0.59	DISO
DIVB	-0.09	0.94	0.59	0.58	0.06	0.47		0.89	0.94	DIVB
DIVD	-0.11	0.72	0.63	0.81	0.15	0.24	0.89		0.76	DIVD
DIVG	-0.05	0.94	0.49	0.41	0.07	0.59	0.94	0.76		DIVG
	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG

Click cells to compare fundamentals

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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

DIVB	+ 0.94	MBOX
DIVG	+ 0.94	MBOX
DIVG	+ 0.94	DIVB
DIVD	+ 0.89	DIVB
DIVD	+ 0.81	MCHI
MCHI	+ 0.78	DIEM

High negative correlations

DIPS	- 0.3	DIEM
DIEM	- 0.12	DHSB
DIVD	- 0.11	DHSB
MCHI	- 0.11	DHSB
DIVB	- 0.09	DHSB
MBOX	- 0.09	DHSB

Tidal Trust Constituents 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
DHSB	0.32	(0.08)	0.00	(0.83)	0.00	0.00	0.49	(0.64)	1.09
MBOX	0.60	(0.03)	0.00	(0.11)	0.00	0.00	0.97	(1.40)	3.55
DIEM	0.64	0.07	0.12	0.14	0.83	(0.67)	1.42	(1.81)	4.44
MCHI	1.42	0.35	0.24	1.58	1.44	(1.59)	2.63	(2.42)	12.27
DIPS	2.06	0.05	0.07	(0.12)	2.61	(2.12)	4.11	(3.60)	23.78
DISO	0.73	(0.02)	0.00	(0.13)	0.00	0.00	1.44	(1.54)	4.40
DIVB	0.55	0.00	0.00	(0.07)	0.00	0.00	1.00	(1.03)	3.05
DIVD	0.53	0.10	0.21	0.16	0.57	(0.60)	1.01	(0.87)	2.77
DIVG	0.51	(0.04)	0.00	(0.16)	0.00	0.00	0.97	(1.18)	3.05

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