Direxion Monthly Small Fund Market Value
| DXRLX Fund | USD 77.63 0.96 1.22% |
| Symbol | Direxion |
Direxion Monthly 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Direxion Monthly's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Direxion Monthly.
| 02/11/2024 |
| 05/11/2024 |
If you would invest 0.00 in Direxion Monthly on February 11, 2024 and sell it all today you would earn a total of 0.00 from holding Direxion Monthly Small or generate 0.0% return on investment in Direxion Monthly over 90 days. Direxion Monthly is related to or competes with Scharf Global, Qs Us, Ab Value, Rbc Microcap, and Aam Select. The fund invests at least 80 percent of its net assets in securities of the index, exchange-traded funds that track the ... More
Direxion Monthly Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Direxion Monthly's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Direxion Monthly Small upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.44 | |||
| Information Ratio | 0.0333 | |||
| Maximum Drawdown | 9.81 | |||
| Value At Risk | (3.46) | |||
| Potential Upside | 3.4 |
Direxion Monthly Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Direxion Monthly's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Direxion Monthly's standard deviation. In reality, there are many statistical measures that can use Direxion Monthly historical prices to predict the future Direxion Monthly's volatility.| Risk Adjusted Performance | 0.0512 | |||
| Jensen Alpha | 0.1487 | |||
| Total Risk Alpha | (0.11) | |||
| Sortino Ratio | 0.0299 | |||
| Treynor Ratio | (4.07) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Direxion Monthly's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Direxion Monthly Small Backtested Returns
We consider Direxion Monthly very steady. Direxion Monthly Small secures Sharpe Ratio (or Efficiency) of 0.0172, which denotes the fund had a 0.0172% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Direxion Monthly Small, which you can use to evaluate the volatility of the entity. Please confirm Direxion Monthly's Mean Deviation of 1.71, downside deviation of 2.44, and Coefficient Of Variation of 1400.47 to check if the risk estimate we provide is consistent with the expected return of 0.0371%. The fund shows a Beta (market volatility) of -0.0359, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Direxion Monthly are expected to decrease at a much lower rate. During the bear market, Direxion Monthly is likely to outperform the market.
Auto-correlation | -0.43 |
Modest reverse predictability
Direxion Monthly Small has modest reverse predictability. Overlapping area represents the amount of predictability between Direxion Monthly time series from 11th of February 2024 to 27th of March 2024 and 27th of March 2024 to 11th of May 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Direxion Monthly Small price movement. The serial correlation of -0.43 indicates that just about 43.0% of current Direxion Monthly price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.43 | |
| Spearman Rank Test | -0.17 | |
| Residual Average | 0.0 | |
| Price Variance | 11.77 |
Direxion Monthly Small lagged returns against current returns
Autocorrelation, which is Direxion Monthly mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Direxion Monthly's mutual fund expected returns. We can calculate the autocorrelation of Direxion Monthly returns to help us make a trade decision. For example, suppose you find that Direxion Monthly has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Direxion Monthly regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Direxion Monthly mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Direxion Monthly mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Direxion Monthly mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Direxion Monthly Lagged Returns
When evaluating Direxion Monthly's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Direxion Monthly mutual fund have on its future price. Direxion Monthly autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Direxion Monthly autocorrelation shows the relationship between Direxion Monthly mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Direxion Monthly Small.
Regressed Prices |
| Timeline |
Pair Trading with Direxion Monthly
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Direxion Monthly position performs unexpectedly, the other equity 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 Direxion Monthly will appreciate offsetting losses from the drop in the long position's value.Moving together with Direxion Mutual Fund
| 0.81 | HCYAX | Direxion Hilton Tactical | PairCorr |
| 0.8 | HCYIX | Direxion Hilton Tactical | PairCorr |
| 0.79 | DXHYX | Direxion Monthly High | PairCorr |
Moving against Direxion Mutual Fund
| 0.57 | DXKSX | Direxion Monthly 7 | PairCorr |
The ability to find closely correlated positions to Direxion Monthly could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Direxion Monthly when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Direxion Monthly - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Direxion Monthly Small to buy it.
The correlation of Direxion Monthly 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Direxion Monthly moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Direxion Monthly Small moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Direxion Monthly can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Direxion Monthly Correlation, Direxion Monthly Volatility and Direxion Monthly Alpha and Beta module to complement your research on Direxion Monthly. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
Direxion Monthly technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.