Direxion Correlations

FNTC Etf

USD 12.75 0.00 0.00%

The correlation of Direxion 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.

Direxion Correlation With Market

Good diversification

The correlation between Direxion and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Direxion Etf

0.75	UYG	ProShares Ultra Fina	Pair Corr
0.62	VTI	Vanguard Total Stock	Pair Corr
0.62	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.62	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.73	BND	Vanguard Total Bond	Pair Corr
0.73	VTV	Vanguard Value Index	Pair Corr
0.7	VO	Vanguard Mid Cap	Pair Corr
0.71	VEA	Vanguard FTSE Developed	Pair Corr
0.66	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.76	PG	Procter Gamble	Pair Corr
0.76	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.7	CSCO	Cisco Systems	Pair Corr
0.89	WMT	Walmart	Pair Corr
0.63	HD	Home Depot	Pair Corr
0.83	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.68	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Moving against Direxion Etf

0.64	GUSH	Direxion Daily SP Buyout Trend	Pair Corr
0.43	NRGU	MicroSectors Big Oil	Pair Corr
0.51	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.09	0.77	-0.32	0.65	0.46	0.7	0.03	-0.4	0.19	META
MSFT	0.09		0.27	0.77	-0.26	-0.57	0.21	-0.1	0.77	-0.41	MSFT
UBER	0.77	0.27		0.05	0.46	0.29	0.61	0.39	-0.07	0.09	UBER
F	-0.32	0.77	0.05		-0.48	-0.6	-0.1	0.1	0.86	-0.27	F
T	0.65	-0.26	0.46	-0.48		0.67	0.41	0.03	-0.52	0.12	T
A	0.46	-0.57	0.29	-0.6	0.67		0.52	0.32	-0.71	0.56	A
CRM	0.7	0.21	0.61	-0.1	0.41	0.52		0.21	-0.17	0.46	CRM
JPM	0.03	-0.1	0.39	0.1	0.03	0.32	0.21		0.01	0.28	JPM
MRK	-0.4	0.77	-0.07	0.86	-0.52	-0.71	-0.17	0.01		-0.4	MRK
XOM	0.19	-0.41	0.09	-0.27	0.12	0.56	0.46	0.28	-0.4		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

MRK	+ 0.86	F
UBER	+ 0.77	META
F	+ 0.77	MSFT
MRK	+ 0.77	MSFT
CRM	+ 0.7	META
A	+ 0.67	T

High negative correlations

MRK	- 0.71	A
A	- 0.6	F
A	- 0.57	MSFT
MRK	- 0.52	T
T	- 0.48	F
XOM	- 0.41	MSFT

Direxion Competition Risk-Adjusted Indicators

There is a big difference between Direxion Etf performing well and Direxion 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'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	1.51	0.14	0.06	0.28	1.89	(1.59)	3.93	(3.21)	11.55
MSFT	1.00	(0.23)	0.00	(0.16)	0.00	0.00	1.77	(2.45)	5.06
UBER	1.82	(0.04)	(0.01)	0.06	2.17	(2.16)	5.29	(3.33)	13.81
F	1.74	(0.39)	0.00	(0.17)	0.00	0.00	2.84	(3.91)	22.50
T	0.89	0.26	0.13	(23.76)	1.00	(1.00)	2.53	(2.20)	7.97
A	1.08	0.11	0.08	0.19	1.14	(1.12)	2.84	(2.08)	6.97
CRM	1.27	0.03	0.04	0.12	1.34	(1.35)	2.93	(2.21)	6.43
JPM	1.04	(0.13)	0.00	(0.01)	0.00	0.00	2.05	(2.38)	7.98
MRK	1.03	(0.20)	0.00	2.09	0.00	0.00	1.31	(2.09)	11.82
XOM	1.16	0.06	0.02	0.19	1.34	(1.22)	2.10	(2.09)	5.78

Direxion Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Direxion etf to make a market-neutral strategy. Peer analysis of Direxion could also be used in its relative valuation, which is a method of valuing Direxion by comparing valuation metrics with similar companies.

Direxion Direxion Direxion Direxion Direxion Direxion Direxion Direxion Direxion American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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