Direxion Daily Correlations

DPST Etf

USD 93.65 1.33 1.40%

The current 90-days correlation between Direxion Daily Regional and Direxion Daily Homebuilders is 0.63 (i.e., Poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Direxion Daily Correlation With Market

Poor diversification

The correlation between Direxion Daily Regional and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily Regional and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Direxion Daily Regional. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Direxion Etf

0.94	SSO	ProShares Ultra SP500	Pair Corr
0.94	SPXL	Direxion Daily SP500	Pair Corr
0.9	QLD	ProShares Ultra QQQ	Pair Corr
0.94	UPRO	ProShares UltraPro SP500	Pair Corr
0.8	TECL	Direxion Daily Technology	Pair Corr
0.74	LABU	Direxion Daily SP Downward Rally	Pair Corr
0.63	GUSH	Direxion Daily SP	Pair Corr
0.76	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.73	UYG	ProShares Ultra Fina	Pair Corr
0.76	OIH	VanEck Oil Services	Pair Corr
0.95	ARKW	ARK Next Generation	Pair Corr
0.86	WTMF	WisdomTree Managed	Pair Corr
0.67	EWC	iShares MSCI Canada	Pair Corr
0.9	BST	BlackRock Science Tech	Pair Corr
0.66	CAT	Caterpillar	Pair Corr
0.92	AXP	American Express	Pair Corr
0.78	DIS	Walt Disney	Pair Corr
0.92	BAC	Bank of America Aggressive Push	Pair Corr
0.66	MSFT	Microsoft Aggressive Push	Pair Corr

Moving against Direxion Etf

0.31	GDXU	MicroSectors Gold Miners	Pair Corr
0.58	TRV	The Travelers Companies	Pair Corr
0.5	JNJ	Johnson Johnson	Pair Corr
0.48	KO	Coca Cola Sell-off Trend	Pair Corr
0.42	MCD	McDonalds	Pair Corr
0.4	T	ATT Inc Aggressive Push	Pair Corr
0.31	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	NAIL	RETL	TPOR	DFEN	DUSL
NAIL		0.87	0.68	0.2	0.72	NAIL
RETL	0.87		0.74	0.07	0.65	RETL
TPOR	0.68	0.74		0.44	0.89	TPOR
DFEN	0.2	0.07	0.44		0.71	DFEN
DUSL	0.72	0.65	0.89	0.71		DUSL
	NAIL	RETL	TPOR	DFEN	DUSL

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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	0.00	7.58	(7.95)	18.05
RETL	3.04	(0.61)	0.00	(0.24)	0.00	0.00	4.89	(6.97)	14.25
TPOR	2.86	(0.16)	0.00	(0.10)	0.00	0.00	4.95	(7.20)	13.90
DFEN	2.81	0.33	0.08	0.09	3.28	(3.14)	6.34	(6.03)	17.05
DUSL	2.45	(0.02)	0.00	(0.04)	0.00	0.00	4.21	(5.11)	13.09

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