Tidal Trust Correlations

WNTR Etf

USD 37.60 0.52 1.40%

The current 90-days correlation between Tidal Trust II and Tidal Trust II is 0.52 (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

Excellent diversification

The correlation between Tidal Trust II and DJI is -0.57 (i.e., Excellent 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.

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Check out Your Current Watchlist 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 against Tidal Etf

0.83	JDIV	JP Morgan Exchange	Pair Corr
0.82	AGEM	abrdn Emerging Markets	Pair Corr
0.82	FNDC	Schwab Fundamental	Pair Corr
0.81	BPI	Grayscale Funds Trust	Pair Corr
0.81	FYC	First Trust Small	Pair Corr
0.8	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.8	AOHY	Angel Oak High	Pair Corr
0.8	NFXL	Direxion Daily NFLX	Pair Corr
0.8	PWRD	Perfect World Symbol Change	Pair Corr
0.8	BRRR	Valkyrie Bitcoin	Pair Corr
0.79	DFEV	Dimensional ETF Trust	Pair Corr
0.79	TOV	EA Series Trust	Pair Corr
0.79	FORH	Formidable ETF	Pair Corr
0.78	FNGO	MicroSectors FANG Index	Pair Corr
0.78	DUSL	Direxion Daily Indus	Pair Corr
0.78	WTMF	WisdomTree Managed	Pair Corr
0.78	FID	First Trust Intl	Pair Corr
0.77	FRNW	Fidelity Covington Trust	Pair Corr
0.76	CBTJ	Calamos Bitcoin 80	Pair Corr
0.75	TECL	Direxion Daily Technology	Pair Corr
0.75	XAR	SPDR SP Aerospace	Pair Corr
0.73	SPXL	Direxion Daily SP500 Sell-off Trend	Pair Corr
0.73	UPRO	ProShares UltraPro SP500 Sell-off Trend	Pair Corr
0.69	USD	ProShares Ultra Semi	Pair Corr
0.69	GSIG	Goldman Sachs Access	Pair Corr
0.67	OBND	SSGA Active Trust	Pair Corr
0.87	GPGEX	Grandeur Peak Global	Pair Corr
0.87	IPAC	iShares Core MSCI	Pair Corr
0.87	DMCY	Democracy International	Pair Corr
0.86	CGIE	Capital Group Intern	Pair Corr
0.86	IXUS	iShares Core MSCI	Pair Corr
0.85	EURL	Direxion Daily FTSE	Pair Corr
0.84	XHYT	BondBloxx ETF Trust	Pair Corr
0.82	GLOF	iShares MSCI Global	Pair Corr
0.81	VOLT	Tema Electrification ETF	Pair Corr
0.81	EAOM	iShares ESG Aware	Pair Corr
0.8	ARKB	ARK 21Shares Bitcoin	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.91	0.74	0.81	0.47	0.67	0.53	0.9	-0.17	0.13	META
MSFT	0.91		0.89	0.84	0.54	0.37	0.43	0.94	-0.47	-0.17	MSFT
UBER	0.74	0.89		0.89	0.46	0.26	0.61	0.91	-0.51	-0.19	UBER
F	0.81	0.84	0.89		0.49	0.56	0.7	0.9	-0.21	0.17	F
T	0.47	0.54	0.46	0.49		0.25	0.14	0.58	-0.17	0.13	T
A	0.67	0.37	0.26	0.56	0.25		0.6	0.47	0.55	0.7	A
CRM	0.53	0.43	0.61	0.7	0.14	0.6		0.54	0.17	0.31	CRM
JPM	0.9	0.94	0.91	0.9	0.58	0.47	0.54		-0.38	0.03	JPM
MRK	-0.17	-0.47	-0.51	-0.21	-0.17	0.55	0.17	-0.38		0.72	MRK
XOM	0.13	-0.17	-0.19	0.17	0.13	0.7	0.31	0.03	0.72		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	+ 0.94	MSFT
MSFT	+ 0.91	META
JPM	+ 0.91	UBER
JPM	+ 0.9	META
JPM	+ 0.9	F
UBER	+ 0.89	MSFT

High negative correlations

MRK	- 0.51	UBER
MRK	- 0.47	MSFT
MRK	- 0.38	JPM
MRK	- 0.21	F
XOM	- 0.19	UBER
MRK	- 0.17	T

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	2.11	0.23	0.08	0.16	2.52	(2.36)	4.23	(4.29)	21.50
MSFT	1.23	0.32	0.20	0.33	1.19	(1.34)	2.40	(2.36)	13.79
UBER	1.90	0.22	0.09	0.18	2.28	(2.09)	4.19	(3.48)	16.18
F	1.69	0.10	0.04	0.12	2.24	(1.72)	2.90	(3.84)	13.07
T	1.15	0.06	0.03	0.22	1.77	(1.16)	2.01	(2.62)	8.83
A	1.78	(0.08)	0.00	(0.05)	0.00	0.00	2.76	(4.15)	14.45
CRM	1.59	(0.12)	0.00	(0.08)	0.00	0.00	3.01	(3.64)	13.13
JPM	1.32	0.24	0.11	0.23	1.95	(1.38)	2.75	(2.12)	11.14
MRK	1.62	(0.25)	0.00	(0.34)	0.00	0.00	2.55	(4.72)	10.58
XOM	1.28	0.00	0.00	0.02	2.24	(1.20)	2.62	(2.77)	10.53

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