Correlation Between Direxion Daily and Logitech International

Can any of the company-specific risk be diversified away by investing in both Direxion Daily and Logitech International at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Direxion Daily and Logitech International into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Direxion Daily Semiconductor and Logitech International SA, you can compare the effects of market volatilities on Direxion Daily and Logitech International and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Direxion Daily with a short position of Logitech International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Direxion Daily and Logitech International.

Diversification Opportunities for Direxion Daily and Logitech International

-0.86

Correlation Coefficient

Direxion Daily  Logitech International

Pay attention - limited upside

The 3 months correlation between Direxion and Logitech is -0.86. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily Semiconductor and Logitech International SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Logitech International and Direxion Daily is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Direxion Daily Semiconductor are associated (or correlated) with Logitech International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Logitech International has no effect on the direction of Direxion Daily i.e., Direxion Daily and Logitech International go up and down completely randomly.

Pair Corralation between Direxion Daily and Logitech International

Given the investment horizon of 90 days Direxion Daily Semiconductor is expected to under-perform the Logitech International. In addition to that, Direxion Daily is 2.55 times more volatile than Logitech International SA. It trades about -0.19 of its total potential returns per unit of risk. Logitech International SA is currently generating about 0.24 per unit of volatility. If you would invest  9,095  in Logitech International SA on July 6, 2025 and sell it today you would earn a total of  2,202  from holding Logitech International SA or generate 24.21% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Significant
Accuracy	100.0%
Values	Daily Returns

Direxion Daily Semiconductor  vs.  Logitech International SA

Direxion Daily Semic

Risk-Adjusted Performance

Weakest

Over the last 90 days Direxion Daily Semiconductor has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of conflicting performance in the last few months, the Etf's basic indicators remain comparatively stable which may send shares a bit higher in November 2025. The newest uproar may also be a sign of mid-term up-swing for the exchange-traded fund private investors.

Logitech International

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Logitech International SA are ranked lower than 18 (%) of all global equities and portfolios over the last 90 days. Despite fairly fragile technical and fundamental indicators, Logitech International demonstrated solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Direxion Daily and Logitech International

The main advantage of trading using opposite Direxion Daily and Logitech International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Direxion Daily position performs unexpectedly, Logitech International can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Logitech International will offset losses from the drop in Logitech International's long position.

The idea behind Direxion Daily Semiconductor and Logitech International SA pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .