Direxion Daily Correlations
TECL Etf | USD 99.01 0.96 0.98% |
The current 90-days correlation between Direxion Daily Technology and Direxion Daily Semiconductor is 0.91 (i.e., Almost no 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 Technology moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Direxion Daily Correlation With Market
Very poor diversification
The correlation between Direxion Daily Technology 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 Technology and DJI in the same portfolio, assuming nothing else is changed.
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Moving together with Direxion Etf
0.99 | SSO | ProShares Ultra SP500 | PairCorr |
0.99 | SPXL | Direxion Daily SP500 | PairCorr |
0.99 | QLD | ProShares Ultra QQQ | PairCorr |
0.89 | NRGU | Bank of Montreal | PairCorr |
0.99 | UPRO | ProShares UltraPro SP500 | PairCorr |
0.68 | LABU | Direxion Daily SP | PairCorr |
0.91 | GUSH | Direxion Daily SP | PairCorr |
0.94 | UYG | ProShares Ultra Fina | PairCorr |
0.99 | VTI | Vanguard Total Stock | PairCorr |
0.99 | SPY | SPDR SP 500 | PairCorr |
0.99 | IVV | iShares Core SP | PairCorr |
0.66 | BND | Vanguard Total Bond | PairCorr |
0.98 | VTV | Vanguard Value Index | PairCorr |
0.99 | VUG | Vanguard Growth Index | PairCorr |
0.98 | VO | Vanguard Mid Cap | PairCorr |
0.91 | VEA | Vanguard FTSE Developed | PairCorr |
0.97 | VB | Vanguard Small Cap | PairCorr |
0.96 | VWO | Vanguard FTSE Emerging | PairCorr |
0.96 | IBM | International Business Earnings Call This Week | PairCorr |
0.9 | MMM | 3M Company Earnings Call This Week | PairCorr |
0.97 | BAC | Bank of America Sell-off Trend | PairCorr |
0.94 | GE | GE Aerospace Earnings Call This Week | PairCorr |
0.93 | AA | Alcoa Corp | PairCorr |
0.89 | PFE | Pfizer Inc | PairCorr |
0.99 | CAT | Caterpillar | PairCorr |
0.96 | DIS | Walt Disney | PairCorr |
0.98 | MSFT | Microsoft Sell-off Trend | PairCorr |
0.98 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
0.97 | AXP | American Express Earnings Call This Week | PairCorr |
Moving against Direxion Etf
0.5 | FNGU | MicroSectors FANG Index Symbol Change | PairCorr |
0.68 | MCD | McDonalds Sell-off Trend | PairCorr |
0.5 | KO | Coca Cola Earnings Call This Week | PairCorr |
0.49 | PG | Procter Gamble | PairCorr |
0.31 | VZ | Verizon Communications Earnings Call This Week | PairCorr |
Related Correlations Analysis
0.98 | -0.93 | 0.7 | 0.5 | SOXL | ||
0.98 | -0.98 | 0.69 | 0.49 | SPXL | ||
-0.93 | -0.98 | -0.65 | -0.41 | TECS | ||
0.7 | 0.69 | -0.65 | 0.49 | LABU | ||
0.5 | 0.49 | -0.41 | 0.49 | NAIL | ||
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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
| High negative correlations
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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 | ||
---|---|---|---|---|---|---|---|---|---|---|
SOXL | 4.44 | 0.83 | 0.20 | 0.30 | 5.28 | 11.34 | 28.98 | |||
SPXL | 2.22 | 0.25 | 0.14 | 0.20 | 2.77 | 6.15 | 14.80 | |||
TECS | 3.04 | (0.67) | 0.00 | 0.32 | 0.00 | 5.92 | 26.01 | |||
LABU | 4.19 | 0.19 | 0.09 | 0.17 | 5.43 | 9.05 | 31.00 | |||
NAIL | 4.31 | (0.26) | 0.01 | 0.05 | 5.22 | 10.65 | 21.50 |