Correlation Between Tidal Trust and Figma,

Can any of the company-specific risk be diversified away by investing in both Tidal Trust and Figma, at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Tidal Trust and Figma, into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Tidal Trust II and Figma, Inc, you can compare the effects of market volatilities on Tidal Trust and Figma, and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Tidal Trust with a short position of Figma,. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tidal Trust and Figma,.

Diversification Opportunities for Tidal Trust and Figma,

0.34

Correlation Coefficient

Tidal Trust  Figma,

Weak diversification

The 3 months correlation between Tidal and Figma, is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Tidal Trust II and Figma, Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Figma, Inc and Tidal Trust is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Tidal Trust II are associated (or correlated) with Figma,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Figma, Inc has no effect on the direction of Tidal Trust i.e., Tidal Trust and Figma, go up and down completely randomly.

Pair Corralation between Tidal Trust and Figma,

Allowing for the 90-day total investment horizon Tidal Trust is expected to generate 275.16 times less return on investment than Figma,. But when comparing it to its historical volatility, Tidal Trust II is 168.21 times less risky than Figma,. It trades about 0.14 of its potential returns per unit of risk. Figma, Inc is currently generating about 0.22 of returns per unit of risk over similar time horizon. If you would invest  2,182  in Figma, Inc on May 9, 2025 and sell it today you would earn a total of  5,642  from holding Figma, Inc or generate 258.57% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	35.48%
Values	Daily Returns

Tidal Trust II  vs.  Figma, Inc

Tidal Trust II

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Tidal Trust II are ranked lower than 10 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable technical and fundamental indicators, Tidal Trust is not utilizing all of its potentials. The latest stock price disturbance, may contribute to mid-run losses for the stockholders.

Figma, Inc

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Figma, Inc are ranked lower than 17 (%) of all global equities and portfolios over the last 90 days. Despite nearly unsteady forward indicators, Figma, reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Tidal Trust and Figma,

The main advantage of trading using opposite Tidal Trust and Figma, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tidal Trust position performs unexpectedly, Figma, can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Figma, will offset losses from the drop in Figma,'s long position.

The idea behind Tidal Trust II and Figma, Inc pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

Check out your portfolio center.

Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.