Tidal Trust Correlations

WNTR Etf

USD 29.90 1.21 3.89%

The current 90-days correlation between Tidal Trust II and Tidal Trust II is 0.03 (i.e., Significant 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 good diversification

The correlation between Tidal Trust II and DJI is -0.26 (i.e., Very good 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.

Build AI portfolio with Tidal Etf

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 housing.

Moving together with Tidal Etf

0.71	JEPI	JPMorgan Equity Premium	Pair Corr
0.79	XYLD	Global X SP	Pair Corr
0.82	DIVO	Amplify CWP Enhanced	Pair Corr
0.84	RYLD	Global X Russell	Pair Corr
0.76	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.63	IDME	International Drawdown	Pair Corr
0.8	ITDD	iShares Trust	Pair Corr
0.77	PPIE	Putnam ETF Trust	Pair Corr
0.64	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.61	VTI	Vanguard Total Stock	Pair Corr
0.65	HELO	JP Morgan Exchange	Pair Corr
0.68	VTV	Vanguard Value Index	Pair Corr
0.62	JUNT	AIM ETF Products	Pair Corr
0.66	MUU	Direxion Daily MU	Pair Corr
0.61	MAYT	AIM ETF Products	Pair Corr
0.82	MCHI	iShares MSCI China	Pair Corr
0.74	ESPO	VanEck Video Gaming	Pair Corr
0.75	PGJ	Invesco Golden Dragon	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.53	0.21	0.24	0.58	0.23	-0.79	0.34	-0.04	-0.12	META
MSFT	0.53		-0.33	-0.25	-0.13	-0.37	-0.47	0.14	-0.24	-0.35	MSFT
UBER	0.21	-0.33		0.74	0.45	0.59	-0.24	0.5	0.17	0.6	UBER
F	0.24	-0.25	0.74		0.54	0.67	-0.41	0.51	0.46	0.63	F
T	0.58	-0.13	0.45	0.54		0.67	-0.54	0.49	0.39	0.22	T
A	0.23	-0.37	0.59	0.67	0.67		-0.19	0.63	0.36	0.66	A
CRM	-0.79	-0.47	-0.24	-0.41	-0.54	-0.19		-0.41	-0.11	0.05	CRM
JPM	0.34	0.14	0.5	0.51	0.49	0.63	-0.41		0.08	0.62	JPM
MRK	-0.04	-0.24	0.17	0.46	0.39	0.36	-0.11	0.08		0.28	MRK
XOM	-0.12	-0.35	0.6	0.63	0.22	0.66	0.05	0.62	0.28		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

F	+ 0.74	UBER
A	+ 0.67	F
A	+ 0.67	T
XOM	+ 0.66	A
XOM	+ 0.63	F
JPM	+ 0.63	A

High negative correlations

CRM	- 0.79	META
CRM	- 0.54	T
CRM	- 0.47	MSFT
JPM	- 0.41	CRM
CRM	- 0.41	F
A	- 0.37	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	1.20	(0.01)	(0.03)	0.08	1.31	(1.37)	2.12	(2.27)	14.28
MSFT	0.73	0.02	(0.05)	0.16	0.81	(0.78)	1.77	(1.47)	6.50
UBER	1.37	0.09	0.01	0.55	1.70	(1.41)	3.26	(2.30)	8.86
F	1.12	0.10	0.09	0.16	1.16	(1.22)	3.36	(1.83)	7.46
T	0.77	0.00	(0.07)	0.12	1.03	(0.77)	1.80	(1.96)	5.41
A	1.37	(0.10)	(0.02)	0.04	1.67	(1.40)	2.82	(2.60)	8.31
CRM	1.28	(0.10)	0.00	0.32	0.00	0.00	2.32	(3.25)	8.74
JPM	0.78	0.04	0.04	0.13	1.01	(0.80)	1.69	(1.51)	5.01
MRK	1.14	(0.04)	(0.06)	(0.01)	1.57	(1.08)	2.90	(2.57)	7.78
XOM	0.95	0.04	(0.02)	0.26	1.33	(0.90)	1.72	(2.42)	6.25

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