Tidal Trust Correlations

Etfs . USA . 
Etf . Tidal Trust II
GPTY Etf   47.72  0.14  0.29%   
The current 90-days correlation between Tidal Trust II and Vanguard Total Stock is 0.79 (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

Poor diversification

The correlation between Tidal Trust II and DJI is 0.63 (i.e., Poor 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 Risk vs Return Analysis 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

  0.97VTI Vanguard Total StockPairCorr
  0.96SPY SPDR SP 500PairCorr
  0.97IVV iShares Core SPPairCorr
  0.64BND Vanguard Total BondPairCorr
  0.95VTV Vanguard Value IndexPairCorr
  0.97VUG Vanguard Growth IndexPairCorr
  0.95VO Vanguard Mid CapPairCorr
  0.95VEA Vanguard FTSE DevelopedPairCorr
  0.94VB Vanguard Small CapPairCorr
  0.95VWO Vanguard FTSE EmergingPairCorr
  0.96XOVR ERShares Private Public Symbol ChangePairCorr
  0.91GAICX GATEWAY INTERNATIONALPairCorr
  0.98HBTA Horizon FundsPairCorr
  0.91AAIAX AMERICAN BEACON INTEPairCorr
  0.9FDV First Trust CapitalPairCorr
  0.91TRSY Xtrackers 0 1PairCorr
  0.93BCHP EGSHARES BLUE CHIPPairCorr
  0.72EUSB iShares TrustPairCorr
  0.97BUFD FT Cboe VestPairCorr
  0.74KGRN KraneShares MSCI ChinaPairCorr
  0.94VABS Virtus Newfleet ABSMBSPairCorr
  0.93AXP American Express Earnings Call TomorrowPairCorr
  0.84CVX Chevron CorpPairCorr
  0.96GE GE Aerospace Earnings Call This WeekPairCorr
  0.96CAT CaterpillarPairCorr
  0.95BAC Bank of America Sell-off TrendPairCorr
  0.89BA Boeing Sell-off TrendPairCorr
  0.97MSFT Microsoft Sell-off TrendPairCorr
  0.84MMM 3M Company Earnings Call TomorrowPairCorr
  0.98CSCO Cisco SystemsPairCorr
  0.69INTC Intel Earnings Call This WeekPairCorr
  0.88AA Alcoa CorpPairCorr
  0.83DD Dupont De Nemours Sell-off TrendPairCorr

Moving against Tidal Etf

  0.73MCD McDonalds Sell-off TrendPairCorr
  0.46KO Coca Cola Earnings Call This WeekPairCorr
  0.44PG Procter GamblePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VTI  0.69  0.11  0.11  0.29  0.53 
(0.80)
 2.06 
(1.18)
 5.09 
SPY  0.75  0.22  0.02 (1.11) 0.97 
(0.78)
 2.08 
(1.69)
 4.99 
IVV  0.68  0.11  0.11  0.28  0.54 
(0.77)
 2.05 
(1.11)
 4.98 
BND  0.27  0.01 (0.47)(0.10) 0.31 
(0.27)
 0.54 
(0.55)
 1.20 
VTV  0.65  0.13 (0.06)(0.79) 0.78 
(0.67)
 1.49 
(1.32)
 4.05 
VUG  0.90  0.31  0.09 (1.80) 0.97 
(1.04)
 2.51 
(1.49)
 5.66 
VO  0.71  0.22  0.03 (1.05) 0.83 
(0.77)
 1.69 
(1.24)
 4.85 
VEA  0.57  0.17  0.13  0.52  0.20 
(0.67)
 1.39 
(1.00)
 4.01 
VB  0.83  0.09  0.10  0.25  0.76 
(0.98)
 2.32 
(1.62)
 6.49 
VWO  0.62  0.25  0.10 (39.54) 0.37 
(0.70)
 2.17 
(1.23)
 4.26 

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