Direxion Daily Correlations

GUSH Etf

USD 18.61 0.62 3.22%

The current 90-days correlation between Direxion Daily SP and Direxion Daily SP is -1.0 (i.e., Pay attention - limited upside). The correlation of Direxion Daily 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 Daily Correlation With Market

Very poor diversification

The correlation between Direxion Daily SP and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily SP and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Direxion Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Direxion Daily SP. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Direxion Etf

0.89	SSO	ProShares Ultra SP500	Pair Corr
0.9	SPXL	Direxion Daily SP500	Pair Corr
0.86	QLD	ProShares Ultra QQQ	Pair Corr
0.9	UPRO	ProShares UltraPro SP500	Pair Corr
0.88	TECL	Direxion Daily Technology	Pair Corr
0.89	LABU	Direxion Daily SP	Pair Corr
0.65	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.89	UYG	ProShares Ultra Fina	Pair Corr
0.83	ITDD	iShares Trust	Pair Corr
0.78	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.61	TLTE	FlexShares Morningstar	Pair Corr
0.83	IBM	International Business	Pair Corr
0.91	CAT	Caterpillar	Pair Corr
0.83	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.74	GE	GE Aerospace	Pair Corr
0.89	BAC	Bank of America Aggressive Push	Pair Corr
0.62	XOM	Exxon Mobil Corp	Pair Corr
0.62	MRK	Merck Company	Pair Corr
0.72	JPM	JPMorgan Chase	Pair Corr
0.81	CVX	Chevron Corp	Pair Corr
0.91	DD	Dupont De Nemours	Pair Corr
0.87	MMM	3M Company	Pair Corr
0.9	HPQ	HP Inc	Pair Corr
0.79	AXP	American Express	Pair Corr
0.85	PFE	Pfizer Inc Aggressive Push	Pair Corr

Moving against Direxion Etf

0.96	VIXY	ProShares VIX Short	Pair Corr
0.87	UTWO	Rbb Fund	Pair Corr
0.86	ULE	ProShares Ultra Euro	Pair Corr
0.52	AMPD	Tidal ETF Services	Pair Corr
0.4	EAGG	iShares ESG Aggregate	Pair Corr
0.59	KO	Coca Cola	Pair Corr
0.47	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	DRIP	ERX	LABU	JNUG	JDST
DRIP		-0.89	-0.83	0.36	-0.44	DRIP
ERX	-0.89		0.74	-0.48	0.54	ERX
LABU	-0.83	0.74		-0.67	0.74	LABU
JNUG	0.36	-0.48	-0.67		-0.98	JNUG
JDST	-0.44	0.54	0.74	-0.98		JDST
	DRIP	ERX	LABU	JNUG	JDST

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

LABU	+ 0.74	ERX
JDST	+ 0.74	LABU
JDST	+ 0.54	ERX
JNUG	+ 0.36	DRIP

High negative correlations

JDST	- 0.98	JNUG
ERX	- 0.89	DRIP
LABU	- 0.83	DRIP
JNUG	- 0.67	LABU
JNUG	- 0.48	ERX
JDST	- 0.44	DRIP

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DRIP	3.93	0.13	0.12	(0.17)	4.74	(4.27)	9.98	(6.15)	43.84
ERX	3.12	(0.01)	0.00	(0.13)	0.00	0.00	4.91	(6.97)	28.68
LABU	5.04	(0.19)	0.00	(0.19)	0.00	0.00	9.06	(11.73)	34.50
JNUG	3.92	0.88	0.15	0.47	4.98	(4.28)	8.75	(8.05)	28.31
JDST	3.96	(0.89)	0.00	0.47	0.00	0.00	7.89	(8.84)	39.12

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