Direxion Daily Correlations

SPDN Etf

USD 9.89 0.14 1.44%

The current 90-days correlation between Direxion Daily SP and Direxion Daily Gold is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Direxion Daily moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Direxion Daily SP moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Direxion Daily Correlation With Market

Pay attention - limited upside

The correlation between Direxion Daily SP and DJI is -0.75 (i.e., Pay attention - limited upside) 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 World Market Map 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 services.

Moving together with Direxion Etf

1.0	SH	ProShares Short SP500	Pair Corr
0.97	PSQ	ProShares Short QQQ	Pair Corr
0.88	SPXS	Direxion Daily SP Buyout Trend	Pair Corr
0.97	QID	ProShares UltraShort QQQ Buyout Trend	Pair Corr
0.75	RWM	ProShares Short Russ Aggressive Push	Pair Corr
0.93	DOG	ProShares Short Dow30	Pair Corr

Moving against Direxion Etf

0.89	VTI	Vanguard Total Stock	Pair Corr
0.88	SPY	SPDR SP 500	Pair Corr
0.88	IVV	iShares Core SP	Pair Corr
0.88	VUG	Vanguard Growth Index	Pair Corr
0.8	VTV	Vanguard Value Index	Pair Corr
0.71	BND	Vanguard Total Bond	Pair Corr
0.58	VO	Vanguard Mid Cap	Pair Corr
0.96	IGM	iShares Expanded Tech	Pair Corr
0.95	IXN	iShares Global Tech	Pair Corr
0.91	ESGE	iShares ESG Aware	Pair Corr
0.89	EMOP	AB Active ETFs,	Pair Corr
0.87	NMAY	Innovator Growth 100	Pair Corr
0.84	VEA	Vanguard FTSE Developed	Pair Corr
0.84	PPI	Investment Managers	Pair Corr
0.82	HYG	iShares iBoxx High Sell-off Trend	Pair Corr
0.68	VYMI	Vanguard International	Pair Corr
0.67	PULT	Putnam ETF Trust	Pair Corr
0.67	VPU	Vanguard Utilities Index	Pair Corr
0.65	BKLN	Invesco Senior Loan Sell-off Trend	Pair Corr
0.61	AGMI	Themes Silver Miners Downward Rally	Pair Corr
0.61	WIA	Western AssetClaymore	Pair Corr
0.59	VB	Vanguard Small Cap	Pair Corr
0.58	SLV	iShares Silver Trust	Pair Corr
0.32	VTIP	Vanguard Short Term	Pair Corr
0.98	FELG	Fidelity Covington Trust	Pair Corr
0.97	RFDA	RiverFront Dynamic	Pair Corr
0.97	BJUN	Innovator SP 500	Pair Corr
0.96	IYW	iShares Technology ETF	Pair Corr
0.93	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.89	TSLP	Kurv Yield Premium	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.31	0.5	-0.76	0.72	-0.7	0.17	-0.36	-0.7	-0.64	META
MSFT	0.31		0.58	0.14	-0.29	0.25	0.34	0.17	-0.1	-0.03	MSFT
UBER	0.5	0.58		-0.25	0.22	-0.34	0.15	0.24	-0.55	-0.27	UBER
F	-0.76	0.14	-0.25		-0.76	0.8	0.09	0.38	0.64	0.74	F
T	0.72	-0.29	0.22	-0.76		-0.92	-0.08	-0.31	-0.59	-0.52	T
A	-0.7	0.25	-0.34	0.8	-0.92		0.08	0.33	0.66	0.57	A
CRM	0.17	0.34	0.15	0.09	-0.08	0.08		-0.23	-0.28	-0.14	CRM
JPM	-0.36	0.17	0.24	0.38	-0.31	0.33	-0.23		0.0	0.45	JPM
MRK	-0.7	-0.1	-0.55	0.64	-0.59	0.66	-0.28	0.0		0.51	MRK
XOM	-0.64	-0.03	-0.27	0.74	-0.52	0.57	-0.14	0.45	0.51		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

A	+ 0.8	F
XOM	+ 0.74	F
T	+ 0.72	META
MRK	+ 0.66	A
MRK	+ 0.64	F
UBER	+ 0.58	MSFT

High negative correlations

A	- 0.92	T
T	- 0.76	F
F	- 0.76	META
MRK	- 0.7	META
A	- 0.7	META
XOM	- 0.64	META

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	1.24	(0.37)	0.00	(0.42)	0.00	0.00	1.87	(2.72)	13.52
MSFT	0.83	(0.10)	0.00	(0.10)	0.00	0.00	1.85	(2.19)	5.08
UBER	1.50	(0.19)	0.00	(0.15)	0.00	0.00	3.34	(3.30)	9.09
F	1.42	0.19	0.10	2.72	1.54	(1.67)	3.66	(2.07)	16.30
T	0.99	(0.20)	0.00	(1.16)	0.00	0.00	1.84	(2.32)	6.25
A	1.30	0.30	0.19	(0.75)	1.13	(1.45)	3.82	(2.15)	11.03
CRM	1.59	(0.10)	0.00	0.57	0.00	0.00	2.93	(3.61)	9.91
JPM	0.87	0.07	0.04	(1.01)	1.29	(0.82)	1.67	(1.91)	5.76
MRK	1.26	0.19	0.14	0.42	1.14	(1.63)	3.84	(2.36)	11.45
XOM	0.94	0.12	0.08	0.42	1.11	(0.91)	1.78	(1.93)	4.71

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