Direxion Daily Correlations

LABD Etf

USD 30.66 0.11 0.36%

The current 90-days correlation between Direxion Daily SP and Direxion Daily SP is 0.1 (i.e., Average diversification). 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 SP and DJI is 0.13 (i.e., Average 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 Correlation 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 bureau of labor statistics.

Moving together with Direxion Etf

0.89	SH	ProShares Short SP500	Pair Corr
0.88	PSQ	ProShares Short QQQ	Pair Corr
0.91	SPXU	ProShares UltraPro Short Aggressive Push	Pair Corr
0.83	SDS	ProShares UltraShort Aggressive Push	Pair Corr
0.83	SPXS	Direxion Daily SP	Pair Corr
0.89	QID	ProShares UltraShort QQQ	Pair Corr
0.89	RWM	ProShares Short Russ	Pair Corr
0.88	SPDN	Direxion Daily SP Aggressive Push	Pair Corr
0.76	DOG	ProShares Short Dow30	Pair Corr

Moving against Direxion Etf

0.88	TARK	AXS 2X Innovation	Pair Corr
0.85	KORU	Direxion Daily South	Pair Corr
0.8	MUU	Direxion Daily MU	Pair Corr
0.72	GDXU	MicroSectors Gold Miners	Pair Corr
0.55	TESL	Simplify Volt TSLA Symbol Change	Pair Corr
0.54	PTIR	GraniteShares 2x Long	Pair Corr
0.5	TAIL	Cambria Tail Risk	Pair Corr
0.48	DZZ	DB Gold Double	Pair Corr
0.88	GLTR	abrdn Physical Precious	Pair Corr
0.88	MKOR	Matthews International	Pair Corr
0.86	KARS	KraneShares Electric	Pair Corr
0.85	FLSP	Franklin Liberty Sys	Pair Corr
0.84	DFEN	Direxion Daily Aerospace	Pair Corr
0.84	FLJH	Franklin FTSE Japan	Pair Corr
0.83	FLGV	Franklin Liberty Treasury	Pair Corr
0.71	QMOM	Alpha Architect Quan	Pair Corr
0.68	YMAG	YieldMax Magnificent	Pair Corr
0.67	JUNP	PGIM Large Cap	Pair Corr
0.65	INDE	Matthews International	Pair Corr
0.62	JOET	Virtus ETF Trust	Pair Corr
0.61	IXP	iShares Global Comm	Pair Corr
0.57	LFBB	Stone Ridge	Pair Corr
0.55	UCC	ProShares Ultra Consumer	Pair Corr
0.47	AVEE	American Century ETF	Pair Corr
0.95	JANW	AIM ETF Products	Pair Corr
0.95	UMMA	Wahed Dow Jones	Pair Corr
0.93	UDEC	Innovator SP 500	Pair Corr
0.9	AHLT	American Beacon Select	Pair Corr
0.89	IXJ	iShares Global Healthcare	Pair Corr
0.87	KCSH	KraneShares Trust	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.04	-0.13	-0.61	0.73	-0.69	-0.33	-0.42	-0.42	-0.39	META
MSFT	0.04		0.1	0.35	-0.51	0.33	0.01	0.06	0.24	0.04	MSFT
UBER	-0.13	0.1		0.27	-0.07	0.19	0.09	0.66	0.09	0.57	UBER
F	-0.61	0.35	0.27		-0.71	0.79	0.52	0.46	0.55	0.63	F
T	0.73	-0.51	-0.07	-0.71		-0.85	-0.34	-0.29	-0.53	-0.37	T
A	-0.69	0.33	0.19	0.79	-0.85		0.43	0.47	0.7	0.62	A
CRM	-0.33	0.01	0.09	0.52	-0.34	0.43		0.07	0.28	0.44	CRM
JPM	-0.42	0.06	0.66	0.46	-0.29	0.47	0.07		0.07	0.76	JPM
MRK	-0.42	0.24	0.09	0.55	-0.53	0.7	0.28	0.07		0.31	MRK
XOM	-0.39	0.04	0.57	0.63	-0.37	0.62	0.44	0.76	0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Please upgrade your account to get full access to Macroaxis premium features

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

A	+ 0.79	F
XOM	+ 0.76	JPM
T	+ 0.73	META
MRK	+ 0.7	A
JPM	+ 0.66	UBER
XOM	+ 0.63	F

High negative correlations

A	- 0.85	T
T	- 0.71	F
A	- 0.69	META
F	- 0.61	META
MRK	- 0.53	T
T	- 0.51	MSFT

Direxion Daily Competition 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	1.28	(0.43)	0.00	(0.26)	0.00	0.00	2.12	(2.67)	14.49
MSFT	0.76	(0.14)	0.00	(0.13)	0.00	0.00	1.77	(1.98)	5.08
UBER	1.52	(0.01)	(0.01)	0.07	1.95	(1.55)	3.62	(3.30)	9.09
F	1.33	0.14	0.11	0.17	1.46	(1.56)	3.62	(1.71)	16.35
T	0.98	(0.16)	0.00	(0.94)	0.00	0.00	1.84	(2.32)	6.47
A	1.30	0.30	0.24	0.31	0.94	(1.46)	3.82	(2.04)	10.46
CRM	1.64	(0.14)	0.00	(0.04)	0.00	0.00	3.59	(3.61)	8.74
JPM	0.81	0.04	0.03	0.13	1.04	(0.79)	1.67	(1.74)	4.74
MRK	1.17	0.08	0.04	0.19	1.16	(1.38)	1.80	(2.36)	11.45
XOM	0.84	0.08	0.03	0.26	1.04	(0.82)	1.77	(1.93)	4.70

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