Direxion Monthly Correlations

Mutual Funds . USA . 
Fund . Direxion Monthly Nasdaq 100
DXQLX Fund  USD 91.69  1.34  1.48%   
The current 90-days correlation between Direxion Monthly Nasdaq and Direxion Monthly Sp is 0.95 (i.e., Almost no diversification). The correlation of Direxion Monthly 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 Monthly Correlation With Market

Poor diversification

The correlation between Direxion Monthly Nasdaq 100 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 Monthly Nasdaq 100 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 Monthly Nasdaq 100. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with DIREXION Mutual Fund

  0.8HCYAX Direxion Hilton TacticalPairCorr
  0.79HCYIX Direxion Hilton TacticalPairCorr
  0.61DXHYX Direxion Monthly HighPairCorr
  0.82DXKSX Direxion Monthly 7PairCorr
  1.0DXNLX Direxion Monthly NasdaqPairCorr
  0.87DXRLX Direxion Monthly Small Steady GrowthPairCorr
  0.98DXSLX Direxion MonthlyPairCorr
  1.0RYVYX Nasdaq 100 2xPairCorr
  1.0RYVLX Nasdaq 100 2xPairCorr
  1.0RYCCX Nasdaq 100 2xPairCorr
  1.0UOPIX Ultra Nasdaq 100PairCorr
  1.0UOPSX Ultranasdaq 100 ProfundPairCorr
  1.0RMQHX Monthly RebalancePairCorr
  1.0RMQAX Monthly RebalancePairCorr
  1.0RMQCX Monthly RebalancePairCorr
  0.93INPSX Internet UltrasectorPairCorr
  0.74PFN Pimco Income StrategyPairCorr
  0.85XNKGX Nuveen Georgia QualityPairCorr
  0.74XPPRX Voya Prime RatePairCorr
  0.82PCF Putnam High IncomePairCorr
  0.95DFMAX Davidson Multi CapPairCorr
  0.81PGAIX Pimco Global MultiPairCorr
  0.92SAGAX Ridgeworth InnovativePairCorr
  0.88FSEIX Nuveen Mid CapPairCorr
  0.93ARIDX Amg River RoadPairCorr
  0.85WWLAX Westwood Largecap ValuePairCorr
  0.97VWELX Vanguard WellingtonPairCorr
  0.98MLMAX Global E PortfolioPairCorr
  0.87TLCYX Touchstone Large CapPairCorr
  0.73GAB Gabelli Equity TrustPairCorr
  0.68LIGYX Loomis Sayles InternPairCorr
  0.91AMGIX Income GrowthPairCorr

Moving against DIREXION Mutual Fund

  0.8DXKLX Direxion Monthly 7PairCorr
  0.66XNXJX Nuveen New JerseyPairCorr
  0.43NXJ Nuveen New JerseyPairCorr
  0.32XDSMX Dreyfus StrategicPairCorr
  0.61XNBHX Neuberger Berman IntPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between DIREXION Mutual Fund performing well and Direxion Monthly Mutual Fund 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 Monthly'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.

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