Tidal ETF Correlations

HFND Etf

USD 22.73 0.10 0.44%

The current 90-days correlation between Tidal ETF Trust and iMGP DBi Managed is 0.43 (i.e., Very weak diversification). The correlation of Tidal ETF 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.

Tidal ETF Correlation With Market

Very weak diversification

The correlation between Tidal ETF Trust and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tidal ETF Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Tidal ETF Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Tidal Etf

0.96	QAI	IQ Hedge Multi	Pair Corr
0.64	DALT	Regents Park Funds	Pair Corr
0.8	NVDL	GraniteShares 15x Long	Pair Corr
0.8	NVDX	T Rex 2X	Pair Corr
0.8	NVDU	Direxion Daily NVDA	Pair Corr
0.71	BITX	Volatility Shares Trust Upward Rally	Pair Corr
0.67	CONL	GraniteShares ETF Trust Upward Rally	Pair Corr
0.81	CRPT	First Trust SkyBridge	Pair Corr
0.81	USD	ProShares Ultra Semi	Pair Corr
0.67	DPST	Direxion Daily Regional	Pair Corr
0.79	DAPP	VanEck Digital Trans	Pair Corr
0.84	DVY	iShares Select Dividend	Pair Corr
0.81	IGV	iShares Expanded Tech	Pair Corr
0.86	PUI	Invesco DWA Utilities	Pair Corr
0.93	ITOT	iShares Core SP	Pair Corr
0.92	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.87	SFYX	SoFi Next 500	Pair Corr
0.64	DRVN	Driven Brands Holdings	Pair Corr
0.93	TDSC	Cabana Target Drawdown	Pair Corr
0.74	BAC	Bank of America Aggressive Push	Pair Corr
0.89	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.81	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.88	HD	Home Depot Sell-off Trend	Pair Corr
0.93	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.89	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.91	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.72	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.67	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.89	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.79	WMT	Walmart Aggressive Push	Pair Corr
0.74	DIS	Walt Disney Aggressive Push	Pair Corr

Moving against Tidal Etf

0.75	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.64	KO	Coca Cola Sell-off Trend	Pair Corr

Related Correlations Analysis

	DBMF	CTA	NOPE	KMLM	DBEH
DBMF		-0.67	0.67	0.6	0.27	DBMF
CTA	-0.67		-0.79	-0.66	-0.24	CTA
NOPE	0.67	-0.79		0.87	0.27	NOPE
KMLM	0.6	-0.66	0.87		0.22	KMLM
DBEH	0.27	-0.24	0.27	0.22		DBEH
	DBMF	CTA	NOPE	KMLM	DBEH

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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

KMLM	+ 0.87	NOPE
NOPE	+ 0.67	DBMF
KMLM	+ 0.6	DBMF
DBEH	+ 0.27	DBMF
DBEH	+ 0.27	NOPE
DBEH	+ 0.22	KMLM

High negative correlations

NOPE	- 0.79	CTA
CTA	- 0.67	DBMF
KMLM	- 0.66	CTA
DBEH	- 0.24	CTA

Tidal ETF Constituents Risk-Adjusted Indicators

There is a big difference between Tidal Etf performing well and Tidal ETF 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 ETF'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
DBMF	0.35	(0.07)	0.00	(0.11)	0.00	0.00	0.51	(0.83)	2.11
CTA	0.59	0.11	(0.02)	(8.97)	0.45	(0.71)	1.33	(0.77)	4.01
NOPE	1.11	(0.28)	0.00	1.66	0.00	0.00	2.21	(2.48)	6.86
KMLM	0.56	(0.10)	0.00	(2.23)	0.00	0.00	1.32	(1.17)	3.36
DBEH	0.40	0.02	(0.13)	(0.37)	0.67	(0.39)	0.77	(1.18)	2.70

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