Tidal ETF Correlations

THTA Etf

19.06 0.03 0.16%

The current 90-days correlation between Tidal ETF Trust and Global X Funds is 0.54 (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

Good diversification

The correlation between Tidal ETF Trust and DJI is -0.16 (i.e., Good 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 World Market Map 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 estimate.

Moving together with Tidal Etf

0.95	VTI	Vanguard Total Stock	Pair Corr
0.76	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.76	IVV	iShares Core SP	Pair Corr
0.65	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.78	VUG	Vanguard Growth Index	Pair Corr
0.7	VO	Vanguard Mid Cap	Pair Corr
0.91	VB	Vanguard Small Cap	Pair Corr
0.84	T	ATT Inc Aggressive Push	Pair Corr
0.93	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.85	BAC	Bank of America Aggressive Push	Pair Corr
0.81	HD	Home Depot Sell-off Trend	Pair Corr
0.84	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.84	DIS	Walt Disney Aggressive Push	Pair Corr
0.75	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.88	WMT	Walmart Aggressive Push	Pair Corr

Moving against Tidal Etf

0.8	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.69	BND	Vanguard Total Bond	Pair Corr
0.67	XTRE	Bondbloxx ETF Trust	Pair Corr
0.66	AGZ	iShares Agency Bond	Pair Corr
0.59	VEA	Vanguard FTSE Developed	Pair Corr
0.56	XTWO	Bondbloxx ETF Trust	Pair Corr
0.54	UTWO	Rbb Fund	Pair Corr
0.5	LMBS	First Trust Low	Pair Corr
0.49	SHY	iShares 1 3	Pair Corr
0.49	SPTS	SPDR Barclays Short	Pair Corr
0.85	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.81	KO	Coca Cola Sell-off Trend	Pair Corr
0.75	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.27	0.55	0.02	0.55	0.04	0.64	0.28	-0.53	0.72	META
MSFT	0.27		0.22	0.17	0.18	-0.01	0.03	-0.12	0.12	-0.19	MSFT
UBER	0.55	0.22		-0.08	-0.06	0.27	-0.01	-0.14	0.08	0.35	UBER
F	0.02	0.17	-0.08		0.16	-0.49	0.42	0.61	-0.31	0.2	F
T	0.55	0.18	-0.06	0.16		-0.5	0.79	0.6	-0.78	0.38	T
A	0.04	-0.01	0.27	-0.49	-0.5		-0.47	-0.62	0.64	-0.01	A
CRM	0.64	0.03	-0.01	0.42	0.79	-0.47		0.85	-0.91	0.65	CRM
JPM	0.28	-0.12	-0.14	0.61	0.6	-0.62	0.85		-0.83	0.48	JPM
MRK	-0.53	0.12	0.08	-0.31	-0.78	0.64	-0.91	-0.83		-0.56	MRK
XOM	0.72	-0.19	0.35	0.2	0.38	-0.01	0.65	0.48	-0.56		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

JPM	+ 0.85	CRM
CRM	+ 0.79	T
XOM	+ 0.72	META
XOM	+ 0.65	CRM
CRM	+ 0.64	META
MRK	+ 0.64	A

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.62	A
XOM	- 0.56	MRK
MRK	- 0.53	META

Tidal ETF Competition 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
META	1.06	0.06	0.02	0.20	1.40	(1.15)	2.62	(3.15)	8.02
MSFT	0.92	(0.05)	(0.05)	0.05	1.49	(0.89)	2.09	(1.85)	8.19
UBER	1.62	(0.12)	(0.05)	0.00	2.30	(1.74)	2.69	(2.53)	20.10
F	1.43	0.02	(0.04)	0.48	2.24	(1.39)	2.53	(2.90)	11.21
T	0.92	0.28	0.15	(7.88)	0.85	(1.05)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.05)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.34	0.21	0.16	0.30	1.16	(1.53)	3.18	(1.93)	9.09
JPM	1.12	(0.01)	0.06	0.11	1.40	(1.21)	2.05	(2.00)	15.87
MRK	0.91	(0.21)	0.00	(0.74)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.01	(0.05)	(0.08)	0.02	1.33	(1.07)	2.10	(2.09)	5.74

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