Direxion Daily Small Etf Profile
| TZA Etf | USD 21.77 0.15 0.69% |
Performance0 of 100
| Odds Of DistressLess than 9
|
Direxion Daily is trading at 21.77 as of the 19th of April 2024, a 0.69 percent increase since the beginning of the trading day. The etf's open price was 21.62. Direxion Daily has less than a 9 % chance of experiencing financial distress in the next few years, but has generated negative returns over the last 90 days. Equity ratings for Direxion Daily Small are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 26th of December 2022 and ending today, the 19th of April 2024. Click here to learn more.
The fund invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse or short leveraged exposure to the index equal to at least 80 percent of the funds net assets . Smallcap Bear is traded on NYSEARCA Exchange in the United States.. More on Direxion Daily Small
Moving together with Direxion Etf
| 0.88 | SH | ProShares Short SP500 Aggressive Push | PairCorr |
| 0.86 | SPXU | ProShares UltraPro Short | PairCorr |
| 0.87 | SDS | ProShares UltraShort | PairCorr |
| 0.88 | SPXS | Direxion Daily SP Aggressive Push | PairCorr |
| 0.89 | QID | ProShares UltraShort QQQ | PairCorr |
| 0.89 | RWM | ProShares Short Russ | PairCorr |
Moving against Direxion Etf
| 0.88 | ARKW | ARK Next Generation | PairCorr |
| 0.84 | EWC | iShares MSCI Canada | PairCorr |
| 0.77 | WTMF | WisdomTree Managed | PairCorr |
| 0.71 | BST | BlackRock Science Tech | PairCorr |
| 0.58 | OIH | VanEck Oil Services | PairCorr |
| 0.51 | MRK | Merck Company Earnings Call This Week | PairCorr |
Direxion Etf Highlights
Most reasonable investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend. Direxion Daily's investment highlights are automatically generated signals that are significant enough to either complement your investing judgment regarding Direxion Daily or challenge it. These highlights can help you better understand the position you are entering and avoid costly mistakes.
| Thematic Ideas | (View all Themes) |
| Business Concentration | Size And Style ETFs, Small Cap ETFs, Trading--Inverse Equity, Direxion Funds (View all Sectors) |
| Issuer | Direxion |
| Inception Date | 2008-11-05 |
| Benchmark | Russell 2000 Index |
| Entity Type | Regulated Investment Company |
| Asset Under Management | 398.62 Million |
| Average Trading Valume | 23.8 Million |
| Asset Type | Equity |
| Category | Size and Style |
| Focus | Small Cap |
| Market Concentration | Developed Markets |
| Region | North America |
| Administrator | U.S. Bancorp Fund Services, LLC |
| Advisor | Rafferty Asset Management, LLC |
| Custodian | The Bank of New York Mellon Corporation |
| Distributor | Foreside Fund Services, LLC |
| Portfolio Manager | Paul Brigandi, Tony Ng |
| Transfer Agent | The Bank of New York Mellon Corporation |
| Fiscal Year End | 31-Aug |
| Exchange | NYSE Arca, Inc. |
| Number of Constituents | 33.0 |
| Market Maker | Virtu Financial |
| Total Expense | 1.0 |
| Management Fee | 0.75 |
| Country Name | USA |
| Returns Y T D | 9.71 |
| Name | Direxion Daily Small Cap Bear 3X Shares |
| Currency Code | USD |
| Open Figi | BBG000JLF4M3 |
| In Threey Volatility | 62.45 |
| 1y Volatility | 65.42 |
| 200 Day M A | 25.1106 |
| 50 Day M A | 19.0918 |
| Code | TZA |
| Updated At | 18th of April 2024 |
| Currency Name | US Dollar |
Direxion Daily Small [TZA] is traded in USA and was established 2008-11-05. The fund is classified under Trading--Inverse Equity category within Direxion Funds family. The entity is thematically classified as Size And Style ETFs. Direxion Daily Small at this time have 551.1 M in assets. , while the total return for the last 3 years was -10.6%.
Check Direxion Daily Probability Of Bankruptcy
Sector Allocation
Investors will always prefer to have their portfolios divercified against different sectors. The broad sector allocation increases the possibility of making a profit or at least avoiding a loss. However, this may also reduce the expected return on Direxion Etf. Generally, it depends on diversification level and type but usually, the broader the sector allocation, the less risk can be expected from holding Direxion Etf, and the less return is expected.
Institutional investors that are interested in enforcing a sector tilt in their portfolio can use exchange-traded funds, such as Direxion Daily Small Etf, as a low-cost alternative to building a custom portfolio. So, using sector ETFs to diversify your portfolio can be a profitable strategy. However, no matter what sectors are desirable at a given time, no single industry should ever make up more than 20 percent of your stock portfolio.
Direxion Daily Target Price Odds Analysis
What are Direxion Daily's target price odds to finish over the current price? Depending on a normal probability distribution, the odds of Direxion Daily jumping above the current price in 90 days from now is about 10.51%. The Direxion Daily Small probability density function shows the probability of Direxion Daily etf to fall within a particular range of prices over 90 days. Considering the 90-day investment horizon Direxion Daily Small has a beta of -5.2179. This usually implies as returns on its benchmark rise, returns on holding Direxion Daily Small are expected to decrease by similarly larger amounts. On the other hand, during market turmoils, Direxion Daily is expected to outperform its benchmark. Additionally, direxion Daily Small has an alpha of 0.2917, implying that it can generate a 0.29 percent excess return over NYSE Composite after adjusting for the inherited market risk (beta).
Based on a normal probability distribution, the odds of Direxion Daily to move above the current price in 90 days from now is about 10.51 (This Direxion Daily Small probability density function shows the probability of Direxion Etf to fall within a particular range of prices over 90 days) .
Direxion Daily Top Holders
| AAOPX | Opportunistic Fund Class | Mutual Fund | Allocation--70% to 85% Equity |
| AACOX | Opportunistic Fund Class | Mutual Fund | Allocation--50% to 70% Equity |
| AIOPX | Opportunistic Fund Institutional | Mutual Fund | Allocation--70% to 85% Equity |
| APOPX | Opportunistic Fund Investor | Mutual Fund | Allocation--50% to 70% Equity |
Direxion Daily Small Risk Profiles
Investors will always prefer to have the highest possible return on investment while minimizing volatility. Direxion Daily market risk premium is the additional return an investor will receive from holding Direxion Daily long position in a well-diversified portfolio. The market premium is part of the Capital Asset Pricing Model (CAPM), which most analysts and investors use to calculate the acceptable rate of return on investment in Direxion Daily. At the center of the CAPM is the concept of risk and reward, which is usually communicated by investors using alpha and beta measures. Although Direxion Daily's alpha and beta are two of the key measurements used to evaluate Direxion Daily's performance over the market, the standard measures of volatility play an important role as well.
| Risk Adjusted Performance | 0.0077 | |||
| Jensen Alpha | 0.2917 | |||
| Total Risk Alpha | (0.38) | |||
| Treynor Ratio | 0.0027 |
Direxion Daily Against Markets
Picking the right benchmark for Direxion Daily etf is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in Direxion Daily etf price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for Direxion Daily is critical whether you are bullish or bearish towards Direxion Daily Small at a given time. Please also check how Direxion Daily's historical prices are related to one of the top price index indicators.
Be your own money manager
Our tools can tell you how much better you can do entering a position in Direxion Daily without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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How to buy Direxion Etf?
Before investing in Direxion Daily, you must ensure you fully understand your financial goals and how diversified (or not) your overall investments are now. Then, after you clearly understand your investment objectives, consider investing in Direxion Daily. To buy Direxion Daily etf, you can follow these steps:- Choose a brokerage firm: You need to select a brokerage firm to buy shares of Direxion Daily. Some popular options include Charles Schwab, Fidelity, TD Ameritrade, and Robinhood.
- Open an account: Once you have chosen a brokerage firm, you will need to open an account. You will be required to provide personal information, such as your name, address, and Social Security number.
- Fund your account: You will need to deposit funds into your brokerage account to purchase Direxion Daily etf. You can do this by transferring funds from your bank account or other investment accounts.
- Place your order: Once you have located Direxion Daily Small etf in your brokerage account, you can place your order to buy it. You will need to specify the number of shares you want to buy and the price you are willing to pay.
- Monitor your investment: After you have purchased Direxion Daily Small etf, you should monitor your investment to track its performance and make informed decisions about buying, selling, or holding the etf
It's important to note that investing in stocks, such as Direxion Daily Small, carries risks, and you should carefully consider your investment goals and risk tolerance before making any investment decisions. Also, remember various factors, including economic indicators, change in net worth, political events, company-specific news, and investor sentiment, can influence the stock market. These factors can cause fluctuations in etf prices and lead to market volatility affecting your buy or sell decision. However, volatility can also present opportunities for investors to make gains by buying stocks when prices are low and selling when they are high. It's important for investors to have a long-term perspective and a well-diversified portfolio to manage the impact of stock market volatility on their investments. For more information on how to buy Direxion Etf please use our How to Invest in Direxion Daily guide.
Already Invested in Direxion Daily Small?
The danger of trading Direxion Daily Small is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Direxion Daily is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Direxion Daily. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Direxion Daily Small is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Direxion Daily Small offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Direxion Daily's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Direxion Daily Small Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Direxion Daily Small Etf: Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Direxion Daily Small. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in nation. Note that the Direxion Daily Small information on this page should be used as a complementary analysis to other Direxion Daily's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
The market value of Direxion Daily Small 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 Daily's value that differs from its market value or its book value, called intrinsic value, which is Direxion Daily's 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 Daily's market value can be influenced by many factors that don't directly affect Direxion Daily's 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 Daily's value and its price as these two are different measures arrived at by different means. Investors typically determine if Direxion Daily is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Direxion Daily's 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.