Direxion Daily Semiconductor Etf Market Value

SOXS Etf  USD 24.70  2.08  9.20%   
Direxion Daily's market value is the price at which a share of Direxion Daily trades on a public exchange. It measures the collective expectations of Direxion Daily Semiconductor investors about its performance. Direxion Daily is selling for under 24.70 as of the 20th of July 2024; that is 9.20 percent up since the beginning of the trading day. The etf's lowest day price was 22.51.
With this module, you can estimate the performance of a buy and hold strategy of Direxion Daily Semiconductor and determine expected loss or profit from investing in Direxion Daily over a given investment horizon. Check out Direxion Daily Correlation, Direxion Daily Volatility and Direxion Daily Alpha and Beta module to complement your research on Direxion Daily.
Symbol

The market value of Direxion Daily Semic 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.

Direxion Daily '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 Daily's etf 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 Daily.
0.00
06/20/2024
No Change 0.00  0.0 
In 30 days
07/20/2024
0.00
If you would invest  0.00  in Direxion Daily on June 20, 2024 and sell it all today you would earn a total of 0.00 from holding Direxion Daily Semiconductor or generate 0.0% return on investment in Direxion Daily over 30 days. Direxion Daily is related to or competes with Direxion Daily, Direxion Daily, Direxion Daily, Direxion Daily, and Direxion Daily. The fund invests in swap agreements, futures contracts, short positions or other financial instruments that, in combinat... More

Direxion Daily 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 Daily's etf 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 Daily Semiconductor upside and downside potential and time the market with a certain degree of confidence.

Direxion Daily Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Direxion Daily's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Direxion Daily's standard deviation. In reality, there are many statistical measures that can use Direxion Daily historical prices to predict the future Direxion Daily's volatility.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Direxion Daily'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.
Hype
Prediction
LowEstimatedHigh
20.8726.4732.07
Details
Intrinsic
Valuation
LowRealHigh
18.2923.8929.49
Details

Direxion Daily Semic Backtested Returns

Direxion Daily Semic secures Sharpe Ratio (or Efficiency) of -0.14, which denotes the etf had a -0.14% return per unit of risk over the last 3 months. Direxion Daily Semiconductor exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Direxion Daily's Variance of 32.69, mean deviation of 4.3, and Standard Deviation of 5.72 to check the risk estimate we provide. The etf shows a Beta (market volatility) of -0.57, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Direxion Daily are expected to decrease at a much lower rate. During the bear market, Direxion Daily is likely to outperform the market.

Auto-correlation

    
  -0.79  

Almost perfect reverse predictability

Direxion Daily Semiconductor has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Direxion Daily time series from 20th of June 2024 to 5th of July 2024 and 5th of July 2024 to 20th of July 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 Daily Semic price movement. The serial correlation of -0.79 indicates that around 79.0% of current Direxion Daily price fluctuation can be explain by its past prices.
Correlation Coefficient-0.79
Spearman Rank Test-0.06
Residual Average0.0
Price Variance3.85

Direxion Daily Semic lagged returns against current returns

Autocorrelation, which is Direxion Daily etf'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 Daily's etf expected returns. We can calculate the autocorrelation of Direxion Daily returns to help us make a trade decision. For example, suppose you find that Direxion Daily has exhibited high autocorrelation historically, and you observe that the etf 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 Daily 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 Daily etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Direxion Daily etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Direxion Daily etf over time.
   Current vs Lagged Prices   
       Timeline  

Direxion Daily Lagged Returns

When evaluating Direxion Daily's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Direxion Daily etf have on its future price. Direxion Daily 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 Daily autocorrelation shows the relationship between Direxion Daily etf current value and its past values and can show if there is a momentum factor associated with investing in Direxion Daily Semiconductor.
   Regressed Prices   
       Timeline  

Thematic Opportunities

Explore Investment Opportunities

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Additional Information and Resources on Investing in Direxion Etf

When determining whether Direxion Daily Semic is a strong investment it is important to analyze Direxion Daily's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Direxion Daily's future performance. For an informed investment choice regarding Direxion Etf, refer to the following important reports:
Check out Direxion Daily Correlation, Direxion Daily Volatility and Direxion Daily Alpha and Beta module to complement your research on Direxion Daily.
You can also try the Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Direxion Daily technical etf 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, etf market cycles, or different charting patterns.
A focus of Direxion Daily technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Direxion Daily trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...