Direxion Daily Correlations

DUSL Etf

USD 56.34 0.18 0.32%

The current 90-days correlation between Direxion Daily Indus and Direxion Daily Transportation is 0.72 (i.e., Poor 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 Industrials 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 Industrials and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily Industrials 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 Industrials. 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

0.87	SSO	ProShares Ultra SP500	Pair Corr
0.86	SPXL	Direxion Daily SP500	Pair Corr
0.8	QLD	ProShares Ultra QQQ	Pair Corr
0.86	UPRO	ProShares UltraPro SP500	Pair Corr
0.72	TECL	Direxion Daily Technology	Pair Corr
0.62	LABU	Direxion Daily SP	Pair Corr
0.7	GUSH	Direxion Daily SP	Pair Corr
0.77	UYG	ProShares Ultra Fina	Pair Corr
0.79	OIH	VanEck Oil Services	Pair Corr
0.85	ARKW	ARK Next Generation	Pair Corr
0.81	WTMF	WisdomTree Managed	Pair Corr
0.69	EWC	iShares MSCI Canada	Pair Corr
0.64	HUM	Humana Inc	Pair Corr
0.85	BST	BlackRock Science Tech	Pair Corr
0.75	CAT	Caterpillar	Pair Corr
0.87	AXP	American Express	Pair Corr
0.83	BAC	Bank of America Aggressive Push	Pair Corr

Moving against Direxion Etf

0.41	TRV	The Travelers Companies	Pair Corr
0.4	KO	Coca Cola Aggressive Push	Pair Corr
0.36	JNJ	Johnson Johnson	Pair Corr
0.35	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	TPOR	UTSL	WANT	RETL	HIBL
TPOR		0.38	0.86	0.83	0.9	TPOR
UTSL	0.38		0.12	0.05	0.33	UTSL
WANT	0.86	0.12		0.98	0.94	WANT
RETL	0.83	0.05	0.98		0.92	RETL
HIBL	0.9	0.33	0.94	0.92		HIBL
	TPOR	UTSL	WANT	RETL	HIBL

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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
TPOR	2.88	(0.24)	0.00	(0.09)	0.00	0.00	4.95	(5.09)	13.90
UTSL	2.48	0.07	0.02	0.06	3.22	(2.59)	5.15	(6.09)	14.85
WANT	3.22	(0.69)	0.00	(0.19)	0.00	0.00	6.03	(7.21)	18.81
RETL	2.95	(0.75)	0.00	(0.22)	0.00	0.00	4.91	(6.76)	14.20
HIBL	4.21	(0.54)	0.00	(0.15)	0.00	0.00	5.95	(10.48)	19.52

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