Direxion Work Correlations

WFH Etf

USD 67.91 0.72 1.07%

The current 90-days correlation between Direxion Work From and ProShares Online Retail is 0.73 (i.e., Poor diversification). The correlation of Direxion Work 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.

Direxion Work Correlation With Market

Modest diversification

The correlation between Direxion Work From and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Work From and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Direxion Work From. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Direxion Etf

0.93	VGT	Vanguard Information	Pair Corr
0.82	XLK	Technology Select Sector	Pair Corr
0.92	IYW	iShares Technology ETF	Pair Corr
0.93	CIBR	First Trust NASDAQ	Pair Corr
0.94	FTEC	Fidelity MSCI Information	Pair Corr
0.89	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.98	FDN	First Trust Dow	Pair Corr
0.95	IGM	iShares Expanded Tech	Pair Corr
0.9	VTI	Vanguard Total Stock	Pair Corr
0.9	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.9	IVV	iShares Core SP	Pair Corr
0.96	VUG	Vanguard Growth Index	Pair Corr
0.67	VB	Vanguard Small Cap	Pair Corr
0.71	RFDA	RiverFront Dynamic	Pair Corr
0.89	AXP	American Express Earnings Call Tomorrow	Pair Corr
0.76	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.85	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.82	DIS	Walt Disney	Pair Corr

Moving against Direxion Etf

0.38	VEA	Vanguard FTSE Developed	Pair Corr
0.78	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.71	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.53	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.41	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.41	HPQ	HP Inc	Pair Corr
0.38	INTC	Intel Earnings Call Today	Pair Corr

Related Correlations Analysis

	ONLN	WCLD	CLOU	GERM	EDOC
ONLN		0.81	0.82	0.51	0.9	ONLN
WCLD	0.81		0.99	0.27	0.83	WCLD
CLOU	0.82	0.99		0.28	0.85	CLOU
GERM	0.51	0.27	0.28		0.41	GERM
EDOC	0.9	0.83	0.85	0.41		EDOC
	ONLN	WCLD	CLOU	GERM	EDOC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Direxion Work Constituents Risk-Adjusted Indicators

There is a big difference between Direxion Etf performing well and Direxion Work 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 Work'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
ONLN	0.96	0.07	0.04	0.22	1.21	(1.03)	2.02	(1.81)	7.33
WCLD	1.26	0.23	0.14	0.49	1.35	(1.36)	2.65	(2.48)	9.74
CLOU	1.07	0.24	0.16	0.46	1.09	(1.23)	2.43	(2.08)	8.82
GERM	1.14	(0.04)	0.00	(0.06)	0.00	0.00	2.59	(2.10)	6.76
EDOC	1.21	0.12	0.07	0.38	1.40	(1.36)	3.12	(2.05)	8.65

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC