Direxion Daily Correlations
| DFEN Etf | USD 33.92 2.12 6.67% |
The current 90-days correlation between Direxion Daily Aerospace and Direxion Daily Homebuilders is 0.49 (i.e., Very weak 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 Aerospace moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Direxion Daily Correlation With Market
Poor diversification
The correlation between Direxion Daily Aerospace and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily Aerospace and DJI in the same portfolio, assuming nothing else is changed.
Direxion |
Moving together with Direxion Etf
| 0.8 | UYG | ProShares Ultra Fina | PairCorr |
| 0.74 | EWC | iShares MSCI Canada | PairCorr |
| 0.62 | HUM | Humana Inc | PairCorr |
| 0.75 | GE | GE Aerospace | PairCorr |
Moving against Direxion Etf
Related Correlations Analysis
| 0.68 | 0.76 | 0.72 | 0.87 | NAIL | ||
| 0.68 | 0.89 | 0.89 | 0.74 | TPOR | ||
| 0.76 | 0.89 | 0.88 | 0.82 | DPST | ||
| 0.72 | 0.89 | 0.88 | 0.65 | DUSL | ||
| 0.87 | 0.74 | 0.82 | 0.65 | RETL | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NAIL | 3.87 | (0.49) | 0.00 | (0.20) | 0.00 | 7.58 | 18.05 | |||
| TPOR | 2.86 | (0.16) | 0.00 | (0.10) | 0.00 | 4.95 | 13.90 | |||
| DPST | 3.63 | (0.32) | 0.00 | (0.12) | 0.00 | 7.37 | 21.75 | |||
| DUSL | 2.45 | (0.02) | 0.00 | (0.04) | 0.00 | 4.21 | 13.09 | |||
| RETL | 3.04 | (0.61) | 0.00 | (0.24) | 0.00 | 4.89 | 14.25 |