| LABD Etf | | | USD 8.76 0.27 2.99% |
Altman Z Score is one of the simplest fundamental models to determine how likely your company is to fail. The module uses available fundamental data of a given equity to approximate the Altman Z score. Altman Z Score is determined by evaluating five fundamental price points available from the company's current public disclosure documents. Check out
Direxion Daily Piotroski F Score and
Portfolio Optimization analysis.
Direxion Daily SP ETF Z Score Analysis
Direxion Daily's Z-Score is a simple linear, multi-factor model that measures the financial health and economic stability of a company. The score is used to predict the probability of a firm going into bankruptcy within next 24 months or two fiscal years from the day stated on the accounting statements used to calculate it. The model uses five fundamental business ratios that are weighted according to algorithm of Professor Edward Altman who developed it in the late 1960s at New York University..
| First Factor | = | 1.2 * ( | Working Capital | / | Total Assets ) |
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| Second Factor | = | 1.4 * ( | Retained Earnings | / | Total Assets ) |
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| Thrid Factor | = | 3.3 * ( | EBITAD | / | Total Assets ) |
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| Fouth Factor | = | 0.6 * ( | Market Value of Equity | / | Total Liabilities ) |
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| Fifth Factor | = | 0.99 * ( | Revenue | / | Total Assets ) |
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To calculate a Z-Score, one would need to know a company's current working capital, its total assets and liabilities, and the amount of its latest earnings as well as earnings before interest and tax. Z-Scores can be used to compare the odds of bankruptcy of companies in a similar line of business or firms operating in the same industry. Companies with Z-Scores above 3.1 are generally considered to be stable and healthy with a low probability of bankruptcy. Scores that fall between 1.8 and 3.1 lie in a so-called 'grey area,' with scores of less than 1 indicating the highest probability of distress. Z Score is a used widely measure by financial auditors, accountants, money managers, loan processors, wealth advisers, and day traders. In the last 25 years, many financial models that utilize z-scores proved it to be successful as a predictor of corporate bankruptcy.
Based on the company's disclosures, Direxion Daily SP has a Z Score of 0.0. This indicator is about the same for the Direxion Funds average (which is currently at 0.0) family and about the same as
Trading--Inverse Equity (which currently averages 0.0) category. This indicator is about the same for all United States etfs average (which is currently at 0.0).
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Direxion Fundamentals
About Direxion Daily Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Direxion Daily SP's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Direxion Daily using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at
the intrinsic value of Direxion Daily SP based on its fundamental data. In general, a quantitative approach, as applied to this etf, focuses on analyzing
financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
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Direxion Daily Piotroski F Score and
Portfolio Optimization analysis.
Note that the Direxion Daily SP information on this page should be used as a complementary analysis to other Direxion Daily's statistical models used 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
AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
The market value of Direxion Daily SP is measured differently than its book value, which is the value of Direxion that is recorded on the company's balance sheet. Investors also form their own opinion of Direxion Daily's value that differs from its market value or its book value, called intrinsic value, which is Direxion Daily's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Direxion Daily's market value can be influenced by many factors that don't directly affect Direxion Daily's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Direxion Daily's value and its price as these two are different measures arrived at by different means. Investors typically determine if Direxion Daily is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Direxion Daily's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.