Correlation Between Tidal Trust and Mattel
Can any of the company-specific risk be diversified away by investing in both Tidal Trust and Mattel at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Tidal Trust and Mattel into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Tidal Trust II and Mattel Inc, you can compare the effects of market volatilities on Tidal Trust and Mattel and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Tidal Trust with a short position of Mattel. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tidal Trust and Mattel.
Diversification Opportunities for Tidal Trust and Mattel
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Tidal and Mattel is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding Tidal Trust II and Mattel Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mattel Inc and Tidal Trust is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Tidal Trust II are associated (or correlated) with Mattel. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mattel Inc has no effect on the direction of Tidal Trust i.e., Tidal Trust and Mattel go up and down completely randomly.
Pair Corralation between Tidal Trust and Mattel
Given the investment horizon of 90 days Tidal Trust II is expected to generate 0.44 times more return on investment than Mattel. However, Tidal Trust II is 2.26 times less risky than Mattel. It trades about 0.19 of its potential returns per unit of risk. Mattel Inc is currently generating about -0.02 per unit of risk. If you would invest 507.00 in Tidal Trust II on May 29, 2025 and sell it today you would earn a total of 73.00 from holding Tidal Trust II or generate 14.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.41% |
| Values | Daily Returns |
Tidal Trust II vs. Mattel Inc
Performance |
| Timeline |
| Tidal Trust II |
| Mattel Inc |
Tidal Trust and Mattel Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tidal Trust and Mattel
The main advantage of trading using opposite Tidal Trust and Mattel positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tidal Trust position performs unexpectedly, Mattel can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Mattel will offset losses from the drop in Mattel's long position.| Tidal Trust vs. Strategy Shares | Tidal Trust vs. Freedom Day Dividend | Tidal Trust vs. iShares MSCI China | Tidal Trust vs. iShares Dividend and |
| Mattel vs. Hasbro Inc | Mattel vs. United Parks Resorts | Mattel vs. JAKKS Pacific | Mattel vs. Planet Fitness |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Other Complementary Tools
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated |