Direxion Daily Correlations

Etfs . USA . 
Etf . Direxion Daily Aerospace
DFEN Etf  USD 65.01  5.42  7.70%   
The current 90-days correlation between Direxion Daily Aerospace and Direxion Daily Homebuilders is -0.07 (i.e., Good diversification). 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 Aerospace moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Direxion Daily Correlation With Market

Weak diversification

The correlation between Direxion Daily Aerospace and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily Aerospace and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Direxion Etf
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Direxion Daily Aerospace. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in national income and product accounts.

Moving together with Direxion Etf

  0.87SSO ProShares Ultra SP500PairCorr
  0.87SPXL Direxion Daily SP500PairCorr
  0.9QLD ProShares Ultra QQQPairCorr
  0.87UPRO ProShares UltraPro SP500PairCorr
  0.94TECL Direxion Daily TechnologyPairCorr
  0.87LABU Direxion Daily SPPairCorr
  0.79FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.85VTI Vanguard Total StockPairCorr
  0.86SPY SPDR SP 500PairCorr
  0.86IVV iShares Core SPPairCorr
  0.69BND Vanguard Total BondPairCorr
  0.8VTV Vanguard Value IndexPairCorr
  0.88VUG Vanguard Growth IndexPairCorr
  0.83VO Vanguard Mid CapPairCorr
  0.75VEA Vanguard FTSE DevelopedPairCorr
  0.7VB Vanguard Small CapPairCorr
  0.84VWO Vanguard FTSE EmergingPairCorr
  0.95CAT CaterpillarPairCorr
  0.75JNJ Johnson Johnson Earnings Call This WeekPairCorr
  0.62BAC Bank of America Earnings Call This WeekPairCorr
  0.85INTC IntelPairCorr
  0.79JPM JPMorgan Chase Earnings Call This WeekPairCorr
  0.7TRV The Travelers Companies Earnings Call This WeekPairCorr

Moving against Direxion Etf

  0.75KO Coca ColaPairCorr
  0.69DIS Walt DisneyPairCorr
  0.56BA BoeingPairCorr
  0.48PG Procter GamblePairCorr
  0.32T ATT IncPairCorr

Related Correlations Analysis


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

RETL
+ 0.81
NAIL
RETL
+ 0.68
DPST
DPST
+ 0.61
TPOR
DPST
+ 0.51
NAIL
DUSL
+ 0.51
TPOR
RETL
+ 0.39
TPOR
  

High negative correlations

DUSL
- 0.21
NAIL

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.

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
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY