Direxion Auspice Correlations

COM Etf

USD 29.29 0.05 0.17%

The current 90-days correlation between Direxion Auspice Broad and GraniteShares Bloomberg Commodity is 0.82 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Direxion Auspice moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Direxion Auspice Broad moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Direxion Auspice Correlation With Market

Average diversification

The correlation between Direxion Auspice Broad and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Auspice Broad and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Direxion Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Direxion Auspice Broad. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with Direxion Etf

0.71	PDBC	Invesco Optimum Yield Sell-off Trend	Pair Corr
0.92	FTGC	First Trust Global	Pair Corr
0.72	DBC	Invesco DB Commodity	Pair Corr
0.69	COMT	iShares GSCI Commodity	Pair Corr
0.69	GSG	iShares SP GSCI	Pair Corr
0.96	DJP	iPath Bloomberg Commodity	Pair Corr
0.96	BCI	abrdn Bloomberg All	Pair Corr
0.98	CMDY	iShares Bloomberg Roll	Pair Corr
0.96	COMB	GraniteShares Bloomberg	Pair Corr
0.93	GCC	WisdomTree Continuous	Pair Corr
0.88	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.76	TQQQ	ProShares UltraPro QQQ	Pair Corr
0.72	WTTHF	SSgA SPDR ETFs	Pair Corr
0.93	PPLT	abrdn Physical Platinum	Pair Corr
0.75	SPY	SPDR SP 500	Pair Corr
0.92	AGQ	ProShares Ultra Silver	Pair Corr
0.74	QQQI	NEOS Nasdaq 100	Pair Corr
0.68	AJUL	Innovator Equity Defined	Pair Corr
0.83	TSLY	YieldMax TSLA Option	Pair Corr
0.74	IOO	iShares Global 100	Pair Corr
0.64	XLC	Communication Services	Pair Corr
0.88	SGDJ	Sprott Junior Gold	Pair Corr
0.79	EMCR	Xtrackers Emerging	Pair Corr
0.63	UTHY	US Treasury 30	Pair Corr
0.61	JHMB	John Hancock Exchange	Pair Corr
0.7	MAGS	Roundhill Magnificent	Pair Corr
0.75	ACWI	iShares MSCI ACWI	Pair Corr
0.68	CLIX	ProShares Long Onlin	Pair Corr
0.7	WEEK	WEEK	Pair Corr
0.88	NLR	VanEck UraniumNuclear	Pair Corr
0.86	OARK	YieldMax ARKK Option	Pair Corr
0.79	IQM	Franklin Templeton ETF Potential Growth	Pair Corr
0.7	VRIG	Invesco Variable Rate	Pair Corr

Moving against Direxion Etf

0.54

VIXY

ProShares VIX Short Upward Rally

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.2	0.09	-0.01	0.65	-0.26	-0.5	0.0	-0.37	-0.21	META
MSFT	0.2		-0.12	-0.13	-0.45	0.05	-0.3	0.03	-0.1	-0.28	MSFT
UBER	0.09	-0.12		0.81	0.11	0.6	-0.46	0.73	0.38	0.63	UBER
F	-0.01	-0.13	0.81		0.07	0.71	-0.46	0.65	0.61	0.61	F
T	0.65	-0.45	0.11	0.07		-0.32	-0.12	0.0	-0.23	0.02	T
A	-0.26	0.05	0.6	0.71	-0.32		-0.38	0.69	0.73	0.57	A
CRM	-0.5	-0.3	-0.46	-0.46	-0.12	-0.38		-0.3	-0.18	-0.04	CRM
JPM	0.0	0.03	0.73	0.65	0.0	0.69	-0.3		0.23	0.8	JPM
MRK	-0.37	-0.1	0.38	0.61	-0.23	0.73	-0.18	0.23		0.26	MRK
XOM	-0.21	-0.28	0.63	0.61	0.02	0.57	-0.04	0.8	0.26		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

F	+ 0.81	UBER
XOM	+ 0.8	JPM
JPM	+ 0.73	UBER
MRK	+ 0.73	A
A	+ 0.71	F
JPM	+ 0.69	A

High negative correlations

CRM	- 0.5	META
CRM	- 0.46	F
CRM	- 0.46	UBER
T	- 0.45	MSFT
CRM	- 0.38	A
MRK	- 0.37	META

Direxion Auspice Competition Risk-Adjusted Indicators

There is a big difference between Direxion Etf performing well and Direxion Auspice 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 Auspice'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
META	1.30	(0.02)	(0.03)	0.04	1.48	(1.46)	2.18	(2.32)	15.10
MSFT	0.75	(0.01)	(0.05)	0.04	0.94	(0.76)	1.86	(1.64)	6.50
UBER	1.39	0.01	(0.01)	0.08	1.93	(1.33)	3.62	(3.30)	8.86
F	1.17	(0.03)	(0.01)	0.04	1.63	(1.19)	2.98	(2.04)	9.82
T	0.84	(0.04)	0.00	1.26	0.00	0.00	1.82	(2.30)	6.47
A	1.46	0.22	0.18	0.20	1.11	(1.68)	3.82	(2.15)	10.46
CRM	1.42	(0.19)	0.00	(0.12)	0.00	0.00	2.63	(3.33)	8.74
JPM	0.79	0.04	0.03	0.10	1.00	(0.81)	1.69	(1.52)	4.93
MRK	1.29	0.01	0.00	0.08	1.35	(1.44)	2.91	(2.36)	9.11
XOM	0.91	(0.04)	(0.05)	(0.01)	1.38	(0.81)	1.72	(2.42)	4.70

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