Direxion Monthly Correlations

Mutual Funds . USA . 
Fund . Direxion Monthly Small
DXRLX Fund  USD 100.63  0.58  0.58%   
The current 90-days correlation between Direxion Monthly Small and Direxion Monthly High is 0.52 (i.e., Very weak 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

Very poor diversification

The correlation between Direxion Monthly Small and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Monthly Small 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 Small. 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

  0.75HCYAX Direxion Hilton TacticalPairCorr
  0.74HCYIX Direxion Hilton TacticalPairCorr
  0.73DXKSX Direxion Monthly 7PairCorr
  0.88DXNLX Direxion Monthly NasdaqPairCorr
  0.87DXQLX Direxion Monthly NasdaqPairCorr
  0.92DXSLX Direxion MonthlyPairCorr
  0.87RYVYX Nasdaq 100 2xPairCorr
  0.87RYVLX Nasdaq 100 2xPairCorr
  0.87RYCCX Nasdaq 100 2xPairCorr
  0.87UOPIX Ultra Nasdaq 100PairCorr
  0.87UOPSX Ultranasdaq 100 ProfundPairCorr
  0.87RMQHX Monthly RebalancePairCorr
  0.88RMQAX Monthly RebalancePairCorr
  0.87RMQCX Monthly RebalancePairCorr
  0.92INPSX Internet UltrasectorPairCorr
  0.75FTYPX Fidelity Freedom IndexPairCorr
  0.71FFBTX Fidelity Freedom BlendPairCorr
  0.99GCAVX Gmo Small CapPairCorr
  0.67GQLOX Gmo Quality FundPairCorr
  0.75GHVIX Gmo High YieldPairCorr
  0.94GMCQX Gmo Equity AllocationPairCorr
  0.95DFMAX Davidson Multi CapPairCorr
  0.82GAPIX Goldman Sachs EquityPairCorr
  0.95WWLAX Westwood Largecap ValuePairCorr
  0.9GAB Gabelli Equity TrustPairCorr
  0.95TLCYX Touchstone Large CapPairCorr
  0.94AMGOX Alger Mid CapPairCorr
  0.92VFIAX Vanguard 500 IndexPairCorr
  0.93VWELX Vanguard WellingtonPairCorr
  0.92VFINX Vanguard 500 IndexPairCorr
  0.92AMEIX Equity GrowthPairCorr
  0.91MLMAX Global E PortfolioPairCorr
  0.92SAGAX Ridgeworth InnovativePairCorr

Moving against Direxion Mutual Fund

  0.72GABFX Gmo Asset Allocation Steady GrowthPairCorr
  0.71DXKLX Direxion Monthly 7PairCorr
  0.6GAAVX Gmo Alternative AlloPairCorr

Related Correlations Analysis

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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   
DXQLX
+ 1.0
DXNLX
DXNLX
+ 0.82
DXKSX
DXQLX
+ 0.82
DXKSX
DXNLX
+ 0.61
DXHYX
DXQLX
+ 0.61
DXHYX
DXKSX
+ 0.17
DXHYX
  
High negative correlations   
DXKLX
- 1.0
DXKSX
DXNLX
- 0.81
DXKLX
DXQLX
- 0.8
DXKLX
DXKLX
- 0.13
DXHYX

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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