Direxion Daily Correlations
TYO Etf | USD 14.51 0.30 2.11% |
The current 90-days correlation between Direxion Daily 7 and Direxion Daily 20 is 0.93 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Direxion Daily moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Direxion Daily 7 10 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Direxion Daily Correlation With Market
Modest diversification
The correlation between Direxion Daily 7 10 and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily 7 10 and DJI in the same portfolio, assuming nothing else is changed.
Direxion |
Moving together with Direxion Etf
0.99 | TBT | ProShares UltraShort | PairCorr |
0.99 | TMV | Direxion Daily 20 | PairCorr |
0.98 | TBF | ProShares Short 20 | PairCorr |
1.0 | PST | ProShares UltraShort | PairCorr |
0.81 | GBTC | Grayscale Bitcoin Trust | PairCorr |
0.79 | USD | ProShares Ultra Semi | PairCorr |
0.67 | TECL | Direxion Daily Technology | PairCorr |
0.69 | ROM | ProShares Ultra Tech | PairCorr |
0.74 | QLD | ProShares Ultra QQQ | PairCorr |
0.67 | SMH | VanEck Semiconductor ETF | PairCorr |
0.72 | SPXL | Direxion Daily SP500 | PairCorr |
0.91 | FBGX | UBS | PairCorr |
0.72 | UPRO | ProShares UltraPro SP500 | PairCorr |
0.81 | EZBC | Franklin Bitcoin ETF Low Volatility | PairCorr |
0.81 | BTC | Grayscale Bitcoin Mini | PairCorr |
0.8 | AAA | Listed Funds Trust | PairCorr |
0.67 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
0.82 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
0.81 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
0.67 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
0.7 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
0.84 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
0.61 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
Moving against Direxion Etf
0.85 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
0.63 | PFE | Pfizer Inc Fiscal Year End 4th of February 2025 | PairCorr |
0.56 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
0.46 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Direxion Daily Competition 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 | ||
---|---|---|---|---|---|---|---|---|---|---|
META | 1.07 | 0.08 | 0.02 | 0.28 | 1.23 | 2.62 | 8.02 | |||
MSFT | 0.90 | (0.06) | (0.07) | 0.08 | 1.42 | 2.08 | 8.19 | |||
UBER | 1.58 | (0.12) | (0.04) | 0.06 | 2.04 | 2.97 | 20.10 | |||
F | 1.40 | (0.04) | 0.02 | 0.13 | 2.19 | 2.77 | 11.72 | |||
T | 0.92 | 0.23 | 0.05 | (3.53) | 1.02 | 2.56 | 6.47 | |||
A | 1.03 | (0.09) | 0.00 | (0.04) | 0.00 | 2.11 | 9.02 | |||
CRM | 1.23 | 0.30 | 0.29 | 0.43 | 0.65 | 3.18 | 7.07 | |||
JPM | 1.08 | (0.05) | 0.05 | 0.13 | 1.42 | 2.05 | 15.87 | |||
MRK | 0.83 | (0.23) | 0.00 | (1.62) | 0.00 | 1.68 | 4.89 | |||
XOM | 1.04 | (0.05) | (0.09) | 0.05 | 1.41 | 2.14 | 5.78 |