Direxion Daily Correlations

Etfs . USA . 
Etf . Direxion Daily FTSE
YINN Etf  USD 44.46  2.56  5.44%   
The current 90-days correlation between Direxion Daily FTSE and Direxion Daily FTSE is -1.0 (i.e., Pay attention - limited upside). 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 FTSE moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Direxion Daily Correlation With Market

Modest diversification

The correlation between Direxion Daily FTSE and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily FTSE 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 Daily FTSE. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Direxion Etf

  0.86GDXU MicroSectors Gold MinersPairCorr
  0.62PG Procter GamblePairCorr
  0.93T ATT Inc Earnings Call TomorrowPairCorr
  0.61CSCO Cisco SystemsPairCorr
  0.93JNJ Johnson JohnsonPairCorr
  0.78TRV The Travelers CompaniesPairCorr
  0.76IBM International BusinessPairCorr
  0.67GE GE AerospacePairCorr
  0.62XOM Exxon Mobil CorpPairCorr
  0.71INTC IntelPairCorr
  0.83MCD McDonaldsPairCorr
  0.93KO Coca ColaPairCorr

Moving against Direxion Etf

  0.77WTMF WisdomTree ManagedPairCorr
  0.7TECL Direxion Daily TechnologyPairCorr
  0.66LABU Direxion Daily SPPairCorr
  0.61QLD ProShares Ultra QQQPairCorr
  0.61FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.61OIH VanEck Oil ServicesPairCorr
  0.57SPXL Direxion Daily SP500PairCorr
  0.57UPRO ProShares UltraPro SP500PairCorr
  0.55GUSH Direxion Daily SPPairCorr
  0.54SSO ProShares Ultra SP500PairCorr
  0.54ARKW ARK Next GenerationPairCorr
  0.43BST BlackRock Science TechPairCorr
  0.8MSFT MicrosoftPairCorr
  0.71CAT CaterpillarPairCorr
  0.68AA Alcoa CorpPairCorr
  0.65AXP American ExpressPairCorr
  0.61DIS Walt DisneyPairCorr
  0.59BAC Bank of AmericaPairCorr
  0.55MRK Merck CompanyPairCorr

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   
BRZU
+ 0.79
EDC
INDL
+ 0.75
YANG
INDL
+ 0.72
LABU
LABU
+ 0.63
YANG
  
High negative correlations   
EDC
- 0.86
YANG
BRZU
- 0.74
YANG
INDL
- 0.52
BRZU
INDL
- 0.43
EDC
LABU
- 0.28
EDC
BRZU
- 0.22
LABU

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.

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