Direxion Daily Correlations
GGLL Etf | USD 35.63 0.70 2.00% |
The current 90-days correlation between Direxion Daily GOOGL and Direxion Daily AMZN is 0.62 (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 GOOGL moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Direxion Daily Correlation With Market
Average diversification
The correlation between Direxion Daily GOOGL and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily GOOGL and DJI in the same portfolio, assuming nothing else is changed.
Direxion |
Moving together with Direxion Etf
Moving against Direxion Etf
0.39 | BABX | GraniteShares 175x Long Downward Rally | PairCorr |
0.36 | UYG | ProShares Ultra Fina | PairCorr |
0.34 | GDXU | MicroSectors Gold Miners | PairCorr |
0.33 | LABU | Direxion Daily SP | PairCorr |
0.73 | XOM | Exxon Mobil Corp | PairCorr |
0.72 | DD | Dupont De Nemours | PairCorr |
0.69 | TRV | The Travelers Companies | PairCorr |
0.65 | JNJ | Johnson Johnson | PairCorr |
0.61 | HPQ | HP Inc | PairCorr |
0.53 | KO | Coca Cola | PairCorr |
0.47 | AA | Alcoa Corp | PairCorr |
0.42 | T | ATT Inc Aggressive Push | PairCorr |
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
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Direxion Daily Competition 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 | ||
---|---|---|---|---|---|---|---|---|---|---|
META | 1.36 | 0.28 | 0.17 | 0.57 | 1.44 | 3.22 | 7.11 | |||
MSFT | 1.03 | (0.05) | 0.00 | (0.16) | 0.00 | 2.20 | 10.31 | |||
UBER | 1.95 | 0.16 | 0.06 | 3.78 | 2.78 | 4.72 | 12.29 | |||
F | 1.35 | (0.11) | 0.00 | (0.13) | 0.00 | 2.55 | 10.97 | |||
T | 0.94 | 0.30 | 0.27 | 0.50 | 0.88 | 1.90 | 7.94 | |||
A | 1.07 | (0.03) | 0.00 | (0.07) | 0.00 | 2.81 | 9.03 | |||
CRM | 1.45 | (0.15) | 0.00 | (0.22) | 0.00 | 2.21 | 15.92 | |||
JPM | 0.89 | 0.14 | 0.11 | 0.15 | 1.16 | 1.97 | 6.85 | |||
MRK | 1.26 | (0.10) | 0.00 | (2.54) | 0.00 | 2.15 | 11.57 | |||
XOM | 0.91 | (0.12) | 0.00 | (0.25) | 0.00 | 1.76 | 5.69 |