Direxion Monthly Correlations

DXRLX Fund

USD 99.91 0.80 0.79%

The current 90-days correlation between Direxion Monthly Small and Direxion Hilton Tactical is 0.63 (i.e., Poor diversification). The correlation of Direxion Monthly 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Direxion Monthly Correlation With Market

Poor diversification

The correlation between Direxion Monthly Small and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Monthly Small and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Direxion Monthly Small. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Direxion Mutual Fund

0.71	HCYAX	Direxion Hilton Tactical	Pair Corr
0.7	HCYIX	Direxion Hilton Tactical	Pair Corr
0.7	DXHYX	Direxion Monthly High	Pair Corr
0.63	DXNLX	Direxion Monthly Nasdaq	Pair Corr
0.63	UOPIX	Ultra Nasdaq 100	Pair Corr
0.63	RYVYX	Nasdaq 100 2x	Pair Corr
0.63	RYCCX	Nasdaq 100 2x	Pair Corr
0.63	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.64	RMQCX	Monthly Rebalance	Pair Corr
0.7	BTMKX	Blackrock International	Pair Corr
0.71	MDIIX	Blackrock Intern Index	Pair Corr
0.68	FXAIX	Fidelity 500 Index	Pair Corr
0.68	VFIAX	Vanguard 500 Index	Pair Corr
0.75	AADBX	American Beacon Balanced	Pair Corr
0.66	VFWSX	Vanguard Ftse All	Pair Corr
0.68	VFINX	Vanguard 500 Index	Pair Corr
0.63	AUXIX	Auxier Focus	Pair Corr
0.71	ALVCX	American Beacon Large	Pair Corr

Related Correlations Analysis

	HCYAX	HCYIX	DXHYX	DXKSX	DXKLX	DXNLX	DXQLX	DXRLX
HCYAX		1.0	0.66	0.27	0.02	0.53	-0.14	0.71	HCYAX
HCYIX	1.0		0.66	0.27	0.03	0.53	-0.14	0.7	HCYIX
DXHYX	0.66	0.66		0.22	0.0	0.43	0.12	0.7	DXHYX
DXKSX	0.27	0.27	0.22		-0.77	0.27	-0.05	0.12	DXKSX
DXKLX	0.02	0.03	0.0	-0.77		0.03	0.2	0.04	DXKLX
DXNLX	0.53	0.53	0.43	0.27	0.03		0.72	0.63	DXNLX
DXQLX	-0.14	-0.14	0.12	-0.05	0.2	0.72		0.23	DXQLX
DXRLX	0.71	0.7	0.7	0.12	0.04	0.63	0.23		DXRLX
	HCYAX	HCYIX	DXHYX	DXKSX	DXKLX	DXNLX	DXQLX	DXRLX

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

HCYIX	+ 1.0	HCYAX
DXQLX	+ 0.72	DXNLX
DXRLX	+ 0.71	HCYAX
DXRLX	+ 0.7	HCYIX
DXRLX	+ 0.7	DXHYX
DXHYX	+ 0.66	HCYAX

High negative correlations

DXKLX	- 0.77	DXKSX
DXQLX	- 0.14	HCYIX
DXQLX	- 0.14	HCYAX
DXQLX	- 0.05	DXKSX
DXKLX	- 0.0	DXHYX

Risk-Adjusted Indicators

There is a big difference between Direxion Mutual Fund performing well and Direxion Monthly Mutual Fund 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 Monthly'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
HCYAX	0.29	0.02	(0.07)	0.11	0.16	(0.34)	0.62	(0.40)	3.19
HCYIX	0.29	0.01	(0.07)	0.11	0.18	(0.34)	0.67	(0.40)	3.24
DXHYX	0.20	(0.02)	(0.27)	0.00	0.22	(0.24)	0.34	(0.34)	1.37
DXKSX	0.35	0.03	(0.12)	(0.53)	0.35	(0.42)	0.62	(0.58)	2.08
DXKLX	0.34	(0.03)	0.00	2.05	0.00	0.00	0.55	(0.59)	2.23
DXNLX	0.99	(0.04)	(0.01)	0.05	1.45	(0.98)	2.24	(2.57)	5.81
DXQLX	1.56	(0.20)	0.00	(0.06)	0.00	0.00	3.09	(3.64)	15.76
DXRLX	1.72	(0.04)	0.03	0.06	2.20	(1.73)	3.84	(3.53)	9.86

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