Direxion Daily Correlations

JNUG Etf

USD 164.65 0.88 0.53%

The current 90-days correlation between Direxion Daily Junior and Direxion Daily Junior 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

Average diversification

The correlation between Direxion Daily Junior and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily Junior 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 Junior. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Direxion Etf

0.94	SSO	ProShares Ultra SP500	Pair Corr
0.94	SPXL	Direxion Daily SP500	Pair Corr
0.92	QLD	ProShares Ultra QQQ	Pair Corr
0.94	UPRO	ProShares UltraPro SP500	Pair Corr
0.89	TECL	Direxion Daily Technology	Pair Corr
0.95	LABU	Direxion Daily SP	Pair Corr
0.88	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.95	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.88	IBUF	Innovator ETFs Trust	Pair Corr
0.93	FMF	First Trust Managed	Pair Corr
0.95	WEEK	WEEK	Pair Corr
0.81	JHMB	John Hancock Exchange	Pair Corr
0.94	VGT	Vanguard Information	Pair Corr
0.9	OARK	YieldMax ARKK Option	Pair Corr
0.93	IQM	Franklin Templeton ETF	Pair Corr
1.0	SILJ	Amplify Junior Silver	Pair Corr
0.91	TQQQ	ProShares UltraPro QQQ	Pair Corr
0.91	ACWI	iShares MSCI ACWI	Pair Corr
0.93	MAYP	PGIM Large Cap	Pair Corr
0.77	GOVT	iShares Treasury Bond	Pair Corr
0.87	GOOY	YieldMax GOOGL Option	Pair Corr
0.91	HYBB	iShares BB Rated	Pair Corr
0.84	KEUA	KraneShares European	Pair Corr
0.91	CLIX	ProShares Long Onlin	Pair Corr
0.84	INTF	iShares Edge MSCI	Pair Corr
0.9	XLC	Communication Services	Pair Corr
0.73	UTHY	US Treasury 30	Pair Corr
0.91	NLR	VanEck UraniumNuclear Sell-off Trend	Pair Corr
0.91	IOO	iShares Global 100	Pair Corr
0.84	HEWJ	iShares Currency Hedged	Pair Corr
0.93	MAGS	Roundhill Magnificent	Pair Corr
0.95	EMCR	Xtrackers Emerging	Pair Corr
0.95	SNTH	MRP SynthEquity ETF	Pair Corr
0.94	VRIG	Invesco Variable Rate	Pair Corr
0.84	EGGY	NestYield Dynamic Income	Pair Corr

Moving against Direxion Etf

0.86	VIXY	ProShares VIX Short Upward Rally	Pair Corr
0.65	HART	New York Life	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.25	0.08	-0.01	0.63	-0.18	-0.58	0.09	-0.34	-0.22	META
MSFT	0.25		-0.14	-0.15	-0.4	0.05	-0.35	0.1	-0.11	-0.32	MSFT
UBER	0.08	-0.14		0.81	0.11	0.63	-0.42	0.67	0.38	0.64	UBER
F	-0.01	-0.15	0.81		0.09	0.74	-0.41	0.6	0.61	0.61	F
T	0.63	-0.4	0.11	0.09		-0.19	-0.23	0.13	-0.18	0.02	T
A	-0.18	0.05	0.63	0.74	-0.19		-0.34	0.66	0.74	0.57	A
CRM	-0.58	-0.35	-0.42	-0.41	-0.23	-0.34		-0.34	-0.16	0.02	CRM
JPM	0.09	0.1	0.67	0.6	0.13	0.66	-0.34		0.19	0.7	JPM
MRK	-0.34	-0.11	0.38	0.61	-0.18	0.74	-0.16	0.19		0.25	MRK
XOM	-0.22	-0.32	0.64	0.61	0.02	0.57	0.02	0.7	0.25		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
A	+ 0.74	F
MRK	+ 0.74	A
XOM	+ 0.7	JPM
JPM	+ 0.67	UBER
JPM	+ 0.66	A

High negative correlations

CRM	- 0.58	META
CRM	- 0.42	UBER
CRM	- 0.41	F
T	- 0.4	MSFT
CRM	- 0.35	MSFT
JPM	- 0.34	CRM

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
META	1.29	(0.05)	0.00	(0.05)	0.00	0.00	2.18	(2.32)	14.28
MSFT	0.76	0.02	0.01	0.06	0.95	(0.75)	1.86	(1.64)	6.50
UBER	1.45	(0.05)	0.00	(0.06)	0.00	0.00	3.62	(3.30)	8.86
F	1.19	(0.07)	0.00	(0.03)	0.00	0.00	2.98	(2.20)	9.82
T	0.84	(0.09)	0.00	(1.25)	0.00	0.00	1.73	(2.32)	6.47
A	1.55	0.12	0.08	0.08	1.65	(1.71)	3.82	(2.59)	10.12
CRM	1.35	(0.15)	0.00	(0.12)	0.00	0.00	2.32	(3.30)	8.74
JPM	0.74	0.05	0.04	0.07	0.99	(0.75)	1.67	(1.51)	4.93
MRK	1.30	0.04	0.02	0.05	1.42	(1.41)	2.91	(2.57)	8.77
XOM	0.92	(0.05)	0.00	(0.10)	0.00	0.00	1.72	(2.42)	4.70

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