Direxion Shares Etf Market Value
| LMBO Etf | 16.66 0.04 0.24% |
| Symbol | Direxion |
The market value of Direxion Shares ETF is measured differently than its book value, which is the value of Direxion that is recorded on the company's balance sheet. Investors also form their own opinion of Direxion Shares' value that differs from its market value or its book value, called intrinsic value, which is Direxion Shares' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Direxion Shares' market value can be influenced by many factors that don't directly affect Direxion Shares' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Direxion Shares' value and its price as these two are different measures arrived at by different means. Investors typically determine if Direxion Shares is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Direxion Shares' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Direxion Shares 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Direxion Shares' etf what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Direxion Shares.
| 12/25/2024 |
| 03/25/2025 |
If you would invest 0.00 in Direxion Shares on December 25, 2024 and sell it all today you would earn a total of 0.00 from holding Direxion Shares ETF or generate 0.0% return on investment in Direxion Shares over 90 days. Direxion Shares is related to or competes with Freedom Day, Franklin Templeton, IShares MSCI, Tidal Trust, IShares Dividend, Altrius Global, and Invesco Exchange. Direxion Shares is entity of United States More
Direxion Shares Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Direxion Shares' etf current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Direxion Shares ETF upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 24.84 | |||
| Value At Risk | (14.00) | |||
| Potential Upside | 6.56 |
Direxion Shares Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Direxion Shares' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Direxion Shares' standard deviation. In reality, there are many statistical measures that can use Direxion Shares historical prices to predict the future Direxion Shares' volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.65) | |||
| Total Risk Alpha | (0.41) | |||
| Treynor Ratio | 1.14 |
Direxion Shares ETF Backtested Returns
Direxion Shares ETF secures Sharpe Ratio (or Efficiency) of -0.11, which denotes the etf had a -0.11 % return per unit of risk over the last 3 months. Direxion Shares ETF exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Direxion Shares' Variance of 29.07, standard deviation of 5.39, and Mean Deviation of 4.13 to check the risk estimate we provide. The etf shows a Beta (market volatility) of -0.55, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Direxion Shares are expected to decrease at a much lower rate. During the bear market, Direxion Shares is likely to outperform the market.
Auto-correlation | -0.46 |
Modest reverse predictability
Direxion Shares ETF has modest reverse predictability. Overlapping area represents the amount of predictability between Direxion Shares time series from 25th of December 2024 to 8th of February 2025 and 8th of February 2025 to 25th of March 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Direxion Shares ETF price movement. The serial correlation of -0.46 indicates that about 46.0% of current Direxion Shares price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.46 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 18.75 |
Direxion Shares ETF lagged returns against current returns
Autocorrelation, which is Direxion Shares etf's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Direxion Shares' etf expected returns. We can calculate the autocorrelation of Direxion Shares returns to help us make a trade decision. For example, suppose you find that Direxion Shares has exhibited high autocorrelation historically, and you observe that the etf is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Direxion Shares regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Direxion Shares etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Direxion Shares etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Direxion Shares etf over time.
Current vs Lagged Prices |
| Timeline |
Direxion Shares Lagged Returns
When evaluating Direxion Shares' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Direxion Shares etf have on its future price. Direxion Shares autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Direxion Shares autocorrelation shows the relationship between Direxion Shares etf current value and its past values and can show if there is a momentum factor associated with investing in Direxion Shares ETF.
Regressed Prices |
| Timeline |
Pair Trading with Direxion Shares
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Direxion Shares position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Direxion Shares will appreciate offsetting losses from the drop in the long position's value.Moving together with Direxion Etf
| 0.9 | SSO | ProShares Ultra SP500 | PairCorr |
| 0.91 | SPXL | Direxion Daily SP500 | PairCorr |
| 0.93 | QLD | ProShares Ultra QQQ | PairCorr |
| 0.91 | UPRO | ProShares UltraPro SP500 | PairCorr |
| 0.9 | TECL | Direxion Daily Technology | PairCorr |
Moving against Direxion Etf
The ability to find closely correlated positions to Direxion Shares could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Direxion Shares when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Direxion Shares - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Direxion Shares ETF to buy it.
The correlation of Direxion Shares 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 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. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Direxion Shares can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Direxion Shares Correlation, Direxion Shares Volatility and Direxion Shares Alpha and Beta module to complement your research on Direxion Shares. You can also try the Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
Direxion Shares technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.