Direxion Correlations

CLDL Etf

USD 14.14 0.00 0.00%

The current 90-days correlation between Direxion and Innovator Laddered Allocation is 0.2 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Direxion moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Direxion moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Direxion Correlation With Market

Modest diversification

The correlation between Direxion and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Direxion Etf

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with Direxion Etf

0.75	LABU	Direxion Daily SP	Pair Corr
0.62	FTBI	First Trust Exchange	Pair Corr
0.65	ZSB	USCF Sustainable Battery	Pair Corr
0.61	CPSU	Calamos SP 500	Pair Corr
0.72	CLOX	Series Portfolios Trust	Pair Corr
0.64	HLAL	Wahed FTSE USA	Pair Corr
0.68	PHT	PHT	Pair Corr
0.63	ECOW	Pacer Emerging Markets	Pair Corr
0.75	FSST	Fidelity Sustainability	Pair Corr

Moving against Direxion Etf

0.72	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.65	FBL	GraniteShares 15x Long	Pair Corr
0.35	NRGU	Bank of Montreal	Pair Corr
0.44	DAPP	VanEck Digital Trans	Pair Corr
0.31	DVXB	WEBs Defined Volatility	Pair Corr

Related Correlations Analysis

	BUFF	UDOW	DPST	RSMC	KIE	SEIM	XLSR	EMCS	XTEN	IVES
BUFF		0.93	0.65	0.12	0.51	0.8	0.92	0.54	-0.09	-0.05	BUFF
UDOW	0.93		0.59	0.19	0.42	0.85	0.86	0.64	-0.12	0.09	UDOW
DPST	0.65	0.59		0.35	0.82	0.43	0.4	-0.03	-0.52	-0.31	DPST
RSMC	0.12	0.19	0.35		0.05	0.45	-0.04	0.26	0.04	0.49	RSMC
KIE	0.51	0.42	0.82	0.05		0.15	0.31	-0.18	-0.44	-0.61	KIE
SEIM	0.8	0.85	0.43	0.45	0.15		0.74	0.79	-0.03	0.5	SEIM
XLSR	0.92	0.86	0.4	-0.04	0.31	0.74		0.59	0.08	0.03	XLSR
EMCS	0.54	0.64	-0.03	0.26	-0.18	0.79	0.59		0.18	0.62	EMCS
XTEN	-0.09	-0.12	-0.52	0.04	-0.44	-0.03	0.08	0.18		0.21	XTEN
IVES	-0.05	0.09	-0.31	0.49	-0.61	0.5	0.03	0.62	0.21		IVES
	BUFF	UDOW	DPST	RSMC	KIE	SEIM	XLSR	EMCS	XTEN	IVES

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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

UDOW	+ 0.93	BUFF
XLSR	+ 0.92	BUFF
XLSR	+ 0.86	UDOW
SEIM	+ 0.85	UDOW
KIE	+ 0.82	DPST
SEIM	+ 0.8	BUFF

High negative correlations

IVES	- 0.61	KIE
XTEN	- 0.52	DPST
XTEN	- 0.44	KIE
IVES	- 0.31	DPST
EMCS	- 0.18	KIE
XTEN	- 0.12	UDOW

Direxion Constituents Risk-Adjusted Indicators

There is a big difference between Direxion Etf performing well and Direxion 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'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
BUFF	0.22	0.01	(0.09)	0.08	0.25	(0.24)	0.55	(0.45)	1.54
UDOW	1.63	0.00	0.05	0.06	2.07	(1.64)	3.57	(3.21)	8.80
DPST	3.01	(0.14)	0.01	0.03	4.95	(3.12)	8.58	(6.66)	27.49
RSMC	0.78	(0.11)	0.00	(0.04)	0.00	0.00	1.46	(1.79)	5.51
KIE	0.70	0.01	(0.02)	0.07	0.98	(0.73)	1.72	(1.36)	5.34
SEIM	0.75	(0.01)	(0.01)	0.05	1.07	(0.77)	1.45	(2.00)	4.83
XLSR	0.59	0.03	0.03	0.10	0.72	(0.65)	1.43	(1.31)	3.46
EMCS	0.80	0.03	0.02	0.09	1.08	(0.83)	1.55	(1.83)	5.13
XTEN	0.25	0.00	(0.15)	0.28	0.32	(0.25)	0.46	(0.49)	1.68
IVES	1.32	(0.06)	(0.02)	0.01	1.96	(1.20)	2.65	(3.33)	7.67

Direxion Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Direxion etf to make a market-neutral strategy. Peer analysis of Direxion could also be used in its relative valuation, which is a method of valuing Direxion by comparing valuation metrics with similar companies.

Innovator Laddered Allocation ProShares UltraPro Dow30 Direxion Daily Regional Rockefeller Small Mid Cap SPDR SP Insurance SEI Exchange Traded SPDR SSGA Sector Xtrackers MSCI Emerging Bondbloxx ETF Trust Dan IVES Wedbush American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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