Direxion Daily Related Correlations
SPUU Etf | USD 123.26 0.05 0.04% |
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.
Correlations
MBCC | DIHP | DJAN | MDLV | DJUL | DJUN | SH | VV | DMAR | ||
MBCC | 0.88 | 0.98 | 0.75 | 0.99 | 0.98 | -0.99 | 0.99 | 0.91 | MBCC | |
DIHP | 0.88 | 0.92 | 0.85 | 0.9 | 0.87 | -0.91 | 0.92 | 0.85 | DIHP | |
DJAN | 0.98 | 0.92 | 0.83 | 0.99 | 0.97 | -0.98 | 0.99 | 0.95 | DJAN | |
MDLV | 0.75 | 0.85 | 0.83 | 0.79 | 0.77 | -0.79 | 0.81 | 0.88 | MDLV | |
DJUL | 0.99 | 0.9 | 0.99 | 0.79 | 0.98 | -1.0 | 1.0 | 0.94 | DJUL | |
DJUN | 0.98 | 0.87 | 0.97 | 0.77 | 0.98 | -0.98 | 0.98 | 0.93 | DJUN | |
SH | -0.99 | -0.91 | -0.98 | -0.79 | -1.0 | -0.98 | -1.0 | -0.93 | SH | |
VV | 0.99 | 0.92 | 0.99 | 0.81 | 1.0 | 0.98 | -1.0 | 0.95 | VV | |
DMAR | 0.91 | 0.85 | 0.95 | 0.88 | 0.94 | 0.93 | -0.93 | 0.95 | DMAR | |
MBCC | DIHP | DJAN | MDLV | DJUL | DJUN | SH | VV | DMAR |
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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
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Direxion Daily Constituents Risk-Adjusted Indicators
There is a big difference between Direxion Etf performing well and Direxion Daily 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 Direxion Daily'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
MBCC | 0.53 | 0.06 | 0.08 | 0.19 | 0.27 | 1.62 | 3.98 | |||
DIHP | 0.52 | (0.04) | (0.06) | 0.08 | 0.53 | 1.18 | 2.69 | |||
DJAN | 0.20 | 0.02 | (0.22) | 0.16 | 0.00 | 0.54 | 1.46 | |||
MDLV | 0.43 | 0.01 | (0.05) | 0.13 | 0.36 | 1.21 | 2.58 | |||
DJUL | 0.28 | 0.02 | (0.12) | 0.16 | 0.00 | 0.76 | 1.85 | |||
DJUN | 0.23 | 0.08 | (0.16) | (2.03) | 0.00 | 0.57 | 1.62 | |||
SH | 0.52 | (0.01) | 0.00 | 0.13 | 0.00 | 0.77 | 3.53 | |||
VV | 0.54 | 0.02 | 0.04 | 0.15 | 0.34 | 1.23 | 3.17 | |||
DMAR | 0.08 | 0.03 | (0.81) | 0.40 | 0.00 | 0.24 | 0.66 |