Direxion Daily Sp Etf Performance
| LABU Etf | USD 88.83 2.78 3.23% |
The etf shows a Beta (market volatility) of 0.96, which means possible diversification benefits within a given portfolio. Direxion Daily returns are very sensitive to returns on the market. As the market goes up or down, Direxion Daily is expected to follow.
Risk-Adjusted Performance
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Over the last 90 days Direxion Daily SP has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unsteady performance in the last few months, the Etf's fundamental drivers remain comparatively stable which may send shares a bit higher in May 2024. The newest uproar may also be a sign of mid-term up-swing for the exchange-traded fund private investors. ...more
1 | Direxion Daily SP Biotech Bull 3x Shares Shares Gap Down to 132.73 | 02/13/2024 |
2 | 5 Best-Performing Leveraged ETFs of February | 03/01/2024 |
3 | 4 Best InverseLeveraged ETF Areas of Last Week - Zacks Investment Research | 03/04/2024 |
4 | Direxion Daily SP Biotech Bull 3x Shares Shares Down 5.8 | 03/11/2024 |
5 | Noteworthy ETF Inflows LABU, FDMT, ETNB, ACAD - Nasdaq | 03/22/2024 |
| In Threey Sharp Ratio | -0.62 |
Direxion |
Direxion Daily Relative Risk vs. Return Landscape
If you would invest 11,888 in Direxion Daily SP on January 23, 2024 and sell it today you would lose (3,283) from holding Direxion Daily SP or give up 27.62% of portfolio value over 90 days. Direxion Daily SP is currently does not generate positive expected returns and assumes 5.6003% risk (volatility on return distribution) over the 90 days horizon. In different words, 49% of etfs are less volatile than Direxion, and 99% of all traded equity instruments are projected to make higher returns than the company over the 90 days investment horizon. Expected Return |
| Risk |
Direxion Daily Market Risk Analysis
Today, many novice investors tend to focus exclusively on investment returns with little concern for Direxion Daily's investment risk. Standard deviation is the most common way to measure market volatility of etfs, such as Direxion Daily SP, and traders can use it to determine the average amount a Direxion Daily's price has deviated from the expected return over a period of time. It is calculated by determining the expected price for the established period and then subtracting this figure from each price point. The differences are then squared, summed, and averaged to produce the variance.
Sharpe Ratio = -0.0625
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| Negative Returns | LABU |
Estimated Market Risk
| 5.6 actual daily | 49 51% of assets are more volatile |
Expected Return
| -0.35 actual daily | 0 Most of other assets have higher returns |
Risk-Adjusted Return
| -0.06 actual daily | 0 Most of other assets perform better |
Based on monthly moving average Direxion Daily is not performing at its full potential. However, if added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of Direxion Daily by adding Direxion Daily to a well-diversified portfolio.
Direxion Daily Fundamentals Growth
Direxion Etf prices reflect investors' perceptions of the future prospects and financial health of Direxion Daily, and Direxion Daily fundamentals are critical determinants of its market performance. Overall, investors pay close attention to revenue and earnings growth, profit margins, and debt levels. These fundamentals can have a significant impact on Direxion Etf performance.
| Price To Earning | 21.86 X | |||
| Price To Book | 3.01 X | |||
| Price To Sales | 7.92 X | |||
| Total Asset | 1.01 B | |||
About Direxion Daily Performance
To evaluate Direxion Daily SP Etf as a possible investment, you need to clearly understand its upside potential, downside risk, and overall future performance outlook. You may be satisfied when Direxion Daily generates a 15% return over the last few months, but what if the market is generating 25% over the same period? In this case, it makes sense to compare Direxion Etf's performance with different market indexes, such as the Dow or NASDAQ Composite. These indexes can act as benchmarks that will help you to understand Direxion Daily SP market performance in a much more refined way. The Macroaxis performance score is an integer between 0 and 100 that represents Direxion's market performance from a risk-adjusted return perspective. Generally speaking, the higher the score, the better is overall performance as compared to other investors. The score is normalized against the average investing universe (the best we can interpret from the data available). Within this methodology, scores of individual equity instruments will always be inferior to the scores of portfolios of equities as portfolios typically diversify a lot of unsystematic risks away. The formula to derive the Macroaxis score bases on multiple unequally-weighted factors. For more information, refer to our portfolio performance evaluation section.
Please also refer to our technical analysis and fundamental analysis pages.The fund invests at least 80 percent of its net assets in financial instruments and securities of the index, exchange-traded funds that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index. SP Biotech is traded on NYSEARCA Exchange in the United States.| Direxion Daily SP generated a negative expected return over the last 90 days | |
| Direxion Daily SP has high historical volatility and very poor performance | |
| Direxion Daily SP created five year return of -38.0% |
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Direxion Daily SP. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of labor statistics. 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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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.