Direxion Daily Correlations

RETL Etf

USD 6.72 0.60 9.80%

The current 90-days correlation between Direxion Daily Retail and Direxion Daily Transportation is 0.68 (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 Retail moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Direxion Daily Correlation With Market

Significant diversification

The correlation between Direxion Daily Retail and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily Retail and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Direxion Daily Retail. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Direxion Etf

0.88	SSO	ProShares Ultra SP500	Pair Corr
0.89	SPXL	Direxion Daily SP500	Pair Corr
0.9	QLD	ProShares Ultra QQQ	Pair Corr
0.89	UPRO	ProShares UltraPro SP500	Pair Corr
0.92	TECL	Direxion Daily Technology	Pair Corr
0.89	LABU	Direxion Daily SP	Pair Corr
0.68	GUSH	Direxion Daily SP	Pair Corr
0.69	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.79	OIH	VanEck Oil Services	Pair Corr
0.85	ARKW	ARK Next Generation	Pair Corr
0.92	WTMF	WisdomTree Managed	Pair Corr
0.81	BST	BlackRock Science Tech	Pair Corr
0.67	CAT	Caterpillar	Pair Corr
0.81	AXP	American Express	Pair Corr
0.65	DIS	Walt Disney	Pair Corr
0.77	BAC	Bank of America Aggressive Push	Pair Corr
0.63	MSFT	Microsoft Aggressive Push	Pair Corr

Moving against Direxion Etf

0.7	GDXU	MicroSectors Gold Miners	Pair Corr
0.51	PG	Procter Gamble	Pair Corr
0.68	TRV	The Travelers Companies	Pair Corr
0.68	KO	Coca Cola	Pair Corr
0.67	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.6	T	ATT Inc Sell-off Trend	Pair Corr
0.6	MCD	McDonalds	Pair Corr
0.42	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.37	INTC	Intel Sell-off Trend	Pair Corr
0.35	IBM	International Business	Pair Corr

Related Correlations Analysis

	TPOR	MIDU	NAIL	DPST	CURE
TPOR		0.78	0.75	0.91	-0.01	TPOR
MIDU	0.78		0.76	0.83	-0.14	MIDU
NAIL	0.75	0.76		0.76	-0.31	NAIL
DPST	0.91	0.83	0.76		0.0	DPST
CURE	-0.01	-0.14	-0.31	0.0		CURE
	TPOR	MIDU	NAIL	DPST	CURE

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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

DPST	+ 0.91	TPOR
DPST	+ 0.83	MIDU
MIDU	+ 0.78	TPOR
NAIL	+ 0.76	MIDU
DPST	+ 0.76	NAIL
NAIL	+ 0.75	TPOR

High negative correlations

CURE	- 0.31	NAIL
CURE	- 0.14	MIDU
CURE	- 0.01	TPOR
CURE	- 0.0	DPST

Direxion Daily Constituents 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
TPOR	2.83	(0.17)	0.00	(0.55)	0.00	0.00	4.95	(5.09)	13.90
MIDU	2.66	(0.29)	0.00	(0.14)	0.00	0.00	4.87	(6.38)	12.22
NAIL	3.73	(0.34)	0.00	5.65	0.00	0.00	7.58	(7.66)	18.05
DPST	3.38	(0.21)	0.00	1.44	0.00	0.00	7.37	(7.82)	21.75
CURE	1.90	0.24	0.14	(3.71)	1.78	(2.24)	3.61	(3.09)	10.07

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