Tidal Trust Correlations

OARK Etf

9.21 0.11 1.21%

The current 90-days correlation between Tidal Trust II and Tidal Trust II is 0.64 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tidal Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tidal Trust II moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Tidal Trust Correlation With Market

Very weak diversification

The correlation between Tidal Trust II and DJI is 0.56 (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.

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Check out Your Equity Center 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 metropolitan statistical area.

Moving together with Tidal Etf

0.91	JEPI	JPMorgan Equity Premium	Pair Corr
0.95	XYLD	Global X SP	Pair Corr
0.94	DIVO	Amplify CWP Enhanced	Pair Corr
0.96	RYLD	Global X Russell	Pair Corr
0.95	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.85	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.87	KNG	FT Cboe Vest	Pair Corr
0.9	BUYW	Main Buywrite ETF	Pair Corr
0.91	IDME	International Drawdown	Pair Corr
0.87	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.94	ITDD	iShares Trust	Pair Corr
0.78	PMBS	PIMCO Mortgage Backed	Pair Corr
0.94	VXF	Vanguard Extended Market	Pair Corr
0.93	FMIL	Fidelity New Millennium	Pair Corr
0.95	IYW	iShares Technology ETF	Pair Corr
0.73	FXU	First Trust Utilities	Pair Corr
0.96	SCHC	Schwab International	Pair Corr
0.92	FNDA	Schwab Fundamental Small	Pair Corr
0.86	VDE	Vanguard Energy Index	Pair Corr
0.96	IBDS	iShares iBonds Dec	Pair Corr
0.96	ARTY	iShares Future AI Symbol Change	Pair Corr
0.84	XLE	Energy Select Sector	Pair Corr
0.93	IWD	iShares Russell 1000	Pair Corr
0.85	XOP	SPDR SP Oil	Pair Corr
0.98	JPST	JPMorgan Ultra Short Sell-off Trend	Pair Corr
0.95	GEMD	Goldman Sachs ETF	Pair Corr
0.95	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.95	IWN	iShares Russell 2000	Pair Corr
0.95	VSHY	Virtus ETF Trust	Pair Corr
0.93	IJS	iShares SP Small	Pair Corr
0.96	HYG	iShares iBoxx High	Pair Corr
0.9	MDY	SPDR SP MIDCAP	Pair Corr
0.94	VOO	Vanguard SP 500	Pair Corr
0.97	XME	SPDR SP Metals	Pair Corr
0.72	IMST	Bitwise Funds Trust	Pair Corr
0.87	IYJ	iShares Industrials ETF	Pair Corr
0.95	VYM	Vanguard High Dividend	Pair Corr

Moving against Tidal Etf

0.78	MPAY	Exchange Traded Concepts	Pair Corr
0.46	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.97	0.82	0.79	0.56	0.92	0.17	0.93	0.21	0.51	META
MSFT	0.97		0.84	0.83	0.51	0.86	0.17	0.95	0.23	0.5	MSFT
UBER	0.82	0.84		0.88	0.41	0.78	0.46	0.85	0.18	0.44	UBER
F	0.79	0.83	0.88		0.42	0.8	0.16	0.89	0.43	0.68	F
T	0.56	0.51	0.41	0.42		0.63	0.11	0.46	0.35	0.27	T
A	0.92	0.86	0.78	0.8	0.63		0.15	0.86	0.36	0.63	A
CRM	0.17	0.17	0.46	0.16	0.11	0.15		0.09	-0.33	-0.21	CRM
JPM	0.93	0.95	0.85	0.89	0.46	0.86	0.09		0.32	0.59	JPM
MRK	0.21	0.23	0.18	0.43	0.35	0.36	-0.33	0.32		0.54	MRK
XOM	0.51	0.5	0.44	0.68	0.27	0.63	-0.21	0.59	0.54		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

MSFT	+ 0.97	META
JPM	+ 0.95	MSFT
JPM	+ 0.93	META
A	+ 0.92	META
JPM	+ 0.89	F
F	+ 0.88	UBER

High negative correlations

MRK	- 0.33	CRM
XOM	- 0.21	CRM

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	1.47	0.27	0.25	0.41	0.82	(1.79)	3.99	(2.00)	10.48
MSFT	0.84	0.33	0.36	0.63	0.00	(1.04)	2.33	(1.03)	8.85
UBER	1.60	0.05	0.05	0.25	1.44	(1.99)	4.19	(2.54)	10.87
F	1.29	0.10	0.04	0.33	1.40	(1.40)	2.69	(2.33)	7.46
T	1.00	(0.02)	(0.12)	0.14	1.30	(1.05)	2.35	(2.35)	5.71
A	1.53	(0.10)	0.02	0.14	1.77	(1.61)	2.82	(2.89)	14.01
CRM	1.30	(0.17)	(0.04)	0.09	1.64	(1.29)	2.95	(3.19)	9.31
JPM	0.88	0.19	0.16	0.40	0.54	(1.01)	2.25	(1.31)	6.03
MRK	1.40	(0.08)	(0.04)	0.13	1.82	(1.38)	2.90	(3.31)	10.58
XOM	1.10	(0.01)	(0.10)	0.16	1.39	(1.07)	2.18	(2.58)	6.28

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