Direxion Daily Correlations

CURE Etf

USD 98.88 0.03 0.03%

The current 90-days correlation between Direxion Daily Healthcare and Direxion Daily Retail is 0.35 (i.e., Weak diversification). The correlation of Direxion Daily 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Direxion Daily Correlation With Market

Poor diversification

The correlation between Direxion Daily Healthcare and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily Healthcare and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Direxion Daily Healthcare. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Direxion Etf

0.69	NRGU	Bank Of Montreal	Pair Corr
0.68	LABU	Direxion Daily SP	Pair Corr
0.93	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.92	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.64	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Moving against Direxion Etf

0.88	BITX	Volatility Shares Trust	Pair Corr
0.86	WEBL	Direxion Daily Dow	Pair Corr
0.83	FNGU	MicroSectors FANG Index	Pair Corr
0.82	UYG	ProShares Ultra Fina	Pair Corr
0.77	QLD	ProShares Ultra QQQ	Pair Corr
0.76	SSO	ProShares Ultra SP500 Sell-off Trend	Pair Corr
0.75	SPXL	Direxion Daily SP500 Sell-off Trend	Pair Corr
0.75	UPRO	ProShares UltraPro SP500 Sell-off Trend	Pair Corr
0.65	NVDL	GraniteShares 15x Long	Pair Corr
0.65	NVDU	Direxion Daily NVDA	Pair Corr
0.64	NVDX	T Rex 2X	Pair Corr
0.62	TECL	Direxion Daily Technology	Pair Corr
0.49	GUSH	Direxion Daily SP	Pair Corr
0.44	USD	ProShares Ultra Semi Buyout Trend	Pair Corr
0.38	FBL	GraniteShares 15x Long	Pair Corr
0.87	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.86	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.85	DIS	Walt Disney	Pair Corr
0.84	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.64	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.53	HD	Home Depot	Pair Corr
0.41	CAT	Caterpillar Sell-off Trend	Pair Corr
0.36	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	RETL	DRN	TECL	MIDU	NAIL
RETL		-0.25	0.7	0.9	-0.36	RETL
DRN	-0.25		-0.53	-0.34	0.76	DRN
TECL	0.7	-0.53		0.79	-0.51	TECL
MIDU	0.9	-0.34	0.79		-0.4	MIDU
NAIL	-0.36	0.76	-0.51	-0.4		NAIL
	RETL	DRN	TECL	MIDU	NAIL

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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

MIDU	+ 0.9	RETL
MIDU	+ 0.79	TECL
NAIL	+ 0.76	DRN
TECL	+ 0.7	RETL

High negative correlations

TECL	- 0.53	DRN
NAIL	- 0.51	TECL
NAIL	- 0.4	MIDU
NAIL	- 0.36	RETL
MIDU	- 0.34	DRN
DRN	- 0.25	RETL

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
RETL	2.70	0.28	0.16	0.18	2.30	(3.30)	6.90	(4.21)	15.53
DRN	2.19	(0.24)	0.00	(1.74)	0.00	0.00	3.77	(4.67)	12.07
TECL	2.43	0.12	0.07	0.14	3.36	(2.53)	5.44	(6.15)	18.15
MIDU	2.03	0.09	0.15	0.12	1.67	(2.21)	5.10	(3.15)	15.74
NAIL	3.38	(0.46)	0.00	(0.17)	0.00	0.00	6.93	(8.12)	21.87

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