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.
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

  0.91JEPI JPMorgan Equity PremiumPairCorr
  0.95XYLD Global X SPPairCorr
  0.94DIVO Amplify CWP EnhancedPairCorr
  0.96RYLD Global X RussellPairCorr
  0.95JEPQ JPMorgan Nasdaq EquityPairCorr
  0.85NUSI NEOS ETF Trust Symbol ChangePairCorr
  0.87KNG FT Cboe VestPairCorr
  0.9BUYW Main Buywrite ETFPairCorr
  0.91IDME International DrawdownPairCorr
  0.87PFFL ETRACS 2xMonthly PayPairCorr
  0.94ITDD iShares TrustPairCorr
  0.78PMBS PIMCO Mortgage BackedPairCorr
  0.94VXF Vanguard Extended MarketPairCorr
  0.93FMIL Fidelity New MillenniumPairCorr
  0.95IYW iShares Technology ETFPairCorr
  0.73FXU First Trust UtilitiesPairCorr
  0.96SCHC Schwab InternationalPairCorr
  0.92FNDA Schwab Fundamental SmallPairCorr
  0.86VDE Vanguard Energy IndexPairCorr
  0.96IBDS iShares iBonds DecPairCorr
  0.96ARTY iShares Future AI Symbol ChangePairCorr
  0.84XLE Energy Select SectorPairCorr
  0.93IWD iShares Russell 1000PairCorr
  0.85XOP SPDR SP OilPairCorr
  0.98JPST JPMorgan Ultra Short Sell-off TrendPairCorr
  0.95GEMD Goldman Sachs ETFPairCorr
  0.95VABS Virtus Newfleet ABSMBSPairCorr
  0.95IWN iShares Russell 2000PairCorr
  0.95VSHY Virtus ETF TrustPairCorr
  0.93IJS iShares SP SmallPairCorr
  0.96HYG iShares iBoxx HighPairCorr
  0.9MDY SPDR SP MIDCAPPairCorr
  0.94VOO Vanguard SP 500PairCorr
  0.97XME SPDR SP MetalsPairCorr
  0.72IMST Bitwise Funds TrustPairCorr
  0.87IYJ iShares Industrials ETFPairCorr
  0.95VYM Vanguard High DividendPairCorr

Moving against Tidal Etf

  0.78MPAY Exchange Traded ConceptsPairCorr
  0.46FNGU MicroSectors FANG Index Symbol ChangePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
MSFTMETA
JPMMSFT
JPMMETA
AMETA
JPMF
FUBER
  
High negative correlations   
MRKCRM
XOMCRM

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.47  0.27  0.25  0.41  0.82 
 3.99 
 10.48 
MSFT  0.84  0.33  0.36  0.63  0.00 
 2.33 
 8.85 
UBER  1.60  0.05  0.05  0.25  1.44 
 4.19 
 10.87 
F  1.29  0.10  0.04  0.33  1.40 
 2.69 
 7.46 
T  1.00 (0.02)(0.12) 0.14  1.30 
 2.35 
 5.71 
A  1.53 (0.10) 0.02  0.14  1.77 
 2.82 
 14.01 
CRM  1.30 (0.17)(0.04) 0.09  1.64 
 2.95 
 9.31 
JPM  0.88  0.19  0.16  0.40  0.54 
 2.25 
 6.03 
MRK  1.40 (0.08)(0.04) 0.13  1.82 
 2.90 
 10.58 
XOM  1.10 (0.01)(0.10) 0.16  1.39 
 2.18 
 6.28