Direxion Shares Correlations

LMBO Etf

16.66 0.04 0.24%

The current 90-days correlation between Direxion Shares ETF and Strategy Shares is 0.54 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Direxion Shares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Direxion Shares ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Direxion Shares Correlation With Market

Very weak diversification

The correlation between Direxion Shares ETF and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Shares ETF and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Direxion Shares ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Direxion Etf

0.92	SSO	ProShares Ultra SP500	Pair Corr
0.93	SPXL	Direxion Daily SP500	Pair Corr
0.95	QLD	ProShares Ultra QQQ	Pair Corr
0.93	UPRO	ProShares UltraPro SP500	Pair Corr
0.93	TECL	Direxion Daily Technology	Pair Corr
0.84	LABU	Direxion Daily SP	Pair Corr
0.67	GUSH	Direxion Daily SP	Pair Corr
0.85	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.79	OIH	VanEck Oil Services	Pair Corr
0.94	ARKW	ARK Next Generation	Pair Corr
0.95	WTMF	WisdomTree Managed	Pair Corr
0.87	BST	BlackRock Science Tech	Pair Corr
0.75	CAT	Caterpillar	Pair Corr
0.77	AA	Alcoa Corp	Pair Corr
0.89	AXP	American Express	Pair Corr
0.74	DIS	Walt Disney	Pair Corr
0.84	BAC	Bank of America	Pair Corr
0.82	MSFT	Microsoft	Pair Corr

Moving against Direxion Etf

0.49	GDXU	MicroSectors Gold Miners	Pair Corr
0.46	PG	Procter Gamble	Pair Corr
0.77	TRV	The Travelers Companies	Pair Corr
0.74	JNJ	Johnson Johnson	Pair Corr
0.69	KO	Coca Cola	Pair Corr
0.65	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.57	MCD	McDonalds	Pair Corr
0.43	XOM	Exxon Mobil Corp	Pair Corr
0.31	IBM	International Business	Pair Corr
0.31	INTC	Intel	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	ZIPP	DIPS	DISO	QOWZ	DIVB
DHSB		-0.13	-0.07	-0.02	-0.07	0.11	-0.02	-0.11	-0.1	DHSB
MBOX	-0.13		0.37	0.16	0.27	-0.29	0.42	0.61	0.92	MBOX
DIEM	-0.07	0.37		0.85	-0.26	0.11	-0.35	-0.22	0.52	DIEM
MCHI	-0.02	0.16	0.85		-0.43	0.46	-0.53	-0.6	0.46	MCHI
ZIPP	-0.07	0.27	-0.26	-0.43		-0.44	0.71	0.58	0.16	ZIPP
DIPS	0.11	-0.29	0.11	0.46	-0.44		-0.53	-0.74	-0.04	DIPS
DISO	-0.02	0.42	-0.35	-0.53	0.71	-0.53		0.75	0.27	DISO
QOWZ	-0.11	0.61	-0.22	-0.6	0.58	-0.74	0.75		0.3	QOWZ
DIVB	-0.1	0.92	0.52	0.46	0.16	-0.04	0.27	0.3		DIVB
	DHSB	MBOX	DIEM	MCHI	ZIPP	DIPS	DISO	QOWZ	DIVB

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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

DIVB	+ 0.92	MBOX
MCHI	+ 0.85	DIEM
QOWZ	+ 0.75	DISO
DISO	+ 0.71	ZIPP
QOWZ	+ 0.61	MBOX
QOWZ	+ 0.58	ZIPP

High negative correlations

QOWZ	- 0.74	DIPS
QOWZ	- 0.6	MCHI
DISO	- 0.53	DIPS
DISO	- 0.53	MCHI
DIPS	- 0.44	ZIPP
ZIPP	- 0.43	MCHI

Direxion Shares Constituents Risk-Adjusted Indicators

There is a big difference between Direxion Etf performing well and Direxion Shares 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 Shares' 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
DHSB	0.37	(0.08)	0.00	(0.48)	0.00	0.00	0.82	(0.74)	1.68
MBOX	0.69	0.00	0.00	(0.07)	0.00	0.00	1.08	(1.40)	3.06
DIEM	0.69	0.05	0.09	0.04	0.86	(0.76)	1.43	(1.89)	4.39
MCHI	1.38	0.27	0.20	0.70	1.42	(1.60)	2.63	(2.72)	7.91
ZIPP	5.87	(0.05)	0.00	(0.10)	0.00	0.00	8.73	(20.00)	21.74
DIPS	2.24	0.08	0.08	(0.14)	2.73	(2.40)	5.35	(4.43)	23.78
DISO	0.91	(0.11)	0.00	(0.23)	0.00	0.00	1.47	(2.12)	6.61
QOWZ	1.03	(0.06)	0.00	(0.13)	0.00	0.00	1.52	(2.47)	4.92
DIVB	0.65	0.03	0.00	(0.03)	0.00	0.00	1.15	(1.40)	3.13

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