Direxion Daily Correlations

TECL Etf

USD 55.18 0.72 1.32%

The current 90-days correlation between Direxion Daily Technology and Direxion Daily Semiconductor is -0.18 (i.e., Good 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

Good diversification

The correlation between Direxion Daily Technology and DJI is -0.06 (i.e., Good 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.

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 Technology. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Direxion Etf

0.96	SSO	ProShares Ultra SP500	Pair Corr
0.99	SPXL	Direxion Daily SP500	Pair Corr
0.96	QLD	ProShares Ultra QQQ	Pair Corr
0.97	UPRO	ProShares UltraPro SP500	Pair Corr
0.94	LABU	Direxion Daily SP	Pair Corr
0.87	GUSH	Direxion Daily SP	Pair Corr
0.93	UYG	ProShares Ultra Fina	Pair Corr
0.94	LUX	Tema ETF Trust	Pair Corr
0.98	SWP	SWP Growth Income	Pair Corr
0.83	DUKH	Ocean Park High	Pair Corr
0.98	WINN	Harbor Long Term	Pair Corr
0.86	SMI	VanEck Vectors ETF	Pair Corr

Moving against Direxion Etf

0.82	SHLD	Global X Funds	Pair Corr
0.72	FNGD	MicroSectors FANG Index Downward Rally	Pair Corr
0.92	SMDD	ProShares UltraPro Short	Pair Corr
0.78	GLDM	SPDR Gold MiniShares	Pair Corr
0.78	BWX	SPDR Bloomberg Inter	Pair Corr
0.77	SLQD	iShares 0 5	Pair Corr
0.76	IAUM	iShares Gold Trust	Pair Corr
0.71	SCHJ	Schwab 1 5	Pair Corr
0.59	JAGG	JPMorgan BetaBuilders	Pair Corr
0.59	BND	Vanguard Total Bond	Pair Corr
0.59	MBB	iShares MBS ETF	Pair Corr
0.51	ZBIO	Zenas BioPharma, Common	Pair Corr
0.34	VCIT	Vanguard Intermediate	Pair Corr
0.89	STIP	iShares 0 5	Pair Corr
0.79	ISHFF	iShares IV Public	Pair Corr
0.77	TYA	Simplify Exchange Traded	Pair Corr
0.76	IAU	iShares Gold Trust	Pair Corr
0.62	SCHP	Schwab TIPS ETF	Pair Corr
0.6	IDLV	Invesco SP International	Pair Corr

Related Correlations Analysis

	SOXL	SPXL	TECS	LABU	NAIL
SOXL		0.95	-0.72	0.94	0.89	SOXL
SPXL	0.95		-0.68	0.95	0.9	SPXL
TECS	-0.72	-0.68		-0.64	-0.61	TECS
LABU	0.94	0.95	-0.64		0.91	LABU
NAIL	0.89	0.9	-0.61	0.91		NAIL
	SOXL	SPXL	TECS	LABU	NAIL

Click cells to compare fundamentals

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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

SPXL	+ 0.95	SOXL
LABU	+ 0.95	SPXL
LABU	+ 0.94	SOXL
NAIL	+ 0.91	LABU
NAIL	+ 0.9	SPXL
NAIL	+ 0.89	SOXL

High negative correlations

TECS	- 0.72	SOXL
TECS	- 0.68	SPXL
LABU	- 0.64	TECS
NAIL	- 0.61	TECS

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	6.70	0.24	0.00	(0.10)	0.00	0.00	9.48	(17.28)	79.38
SPXL	3.57	(0.39)	0.00	1.24	0.00	0.00	5.96	(7.89)	37.77
TECS	5.12	(0.28)	0.06	(0.08)	7.67	(5.97)	12.35	(8.15)	59.55
LABU	5.03	(0.61)	0.00	0.56	0.00	0.00	9.06	(11.73)	34.50
NAIL	4.53	(0.41)	0.00	(0.31)	0.00	0.00	8.68	(9.24)	27.93

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