Direxion Correlations

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Direxion moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Direxion moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Related Correlations Analysis

	KOMP	PRNT	QQQJ	ARKX	IZRL
KOMP		0.74	0.93	0.6	0.38	KOMP
PRNT	0.74		0.78	0.6	0.67	PRNT
QQQJ	0.93	0.78		0.61	0.55	QQQJ
ARKX	0.6	0.6	0.61		0.72	ARKX
IZRL	0.38	0.67	0.55	0.72		IZRL
	KOMP	PRNT	QQQJ	ARKX	IZRL

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Direxion Constituents Risk-Adjusted Indicators

There is a big difference between Direxion Etf performing well and Direxion 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'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
KOMP	1.05	(0.10)	0.00	(0.18)	0.00	0.00	1.57	(1.76)	6.00
PRNT	1.09	(0.03)	0.00	(0.07)	0.00	0.00	1.79	(2.54)	6.89
QQQJ	0.73	(0.06)	0.00	(0.14)	0.00	0.00	1.15	(1.31)	4.17
ARKX	1.61	(0.01)	0.00	(0.03)	0.00	0.00	2.66	(2.59)	9.43
IZRL	1.00	0.09	0.08	0.15	1.20	(1.02)	2.05	(2.16)	5.96

Direxion Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Direxion etf to make a market-neutral strategy. Peer analysis of Direxion could also be used in its relative valuation, which is a method of valuing Direxion by comparing valuation metrics with similar companies.

SPDR Kensho New The 3D Printing Invesco NASDAQ Next ARK Space Exploration ARK Israel Innovative American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

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Direxion Correlations

Related Correlations Analysis

Direxion Constituents Risk-Adjusted Indicators

Direxion Related Equities

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