Direxion Monthly Correlations

DXHYX Fund

USD 17.61 0.05 0.28%

The current 90-days correlation between Direxion Monthly High and T Rowe Price is 0.25 (i.e., Modest diversification). The correlation of Direxion Monthly is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Direxion Monthly Correlation With Market

Very weak diversification

The correlation between Direxion Monthly High and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Monthly High and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Direxion Monthly High. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Direxion Mutual Fund

0.8	HCYAX	Direxion Hilton Tactical	Pair Corr
0.79	HCYIX	Direxion Hilton Tactical	Pair Corr
0.67	BCAAX	Brandywineglobal C	Pair Corr
0.72	VTWAX	Vanguard Total World	Pair Corr
0.73	GAPIX	Goldman Sachs Equity	Pair Corr
0.62	ARIDX	Amg River Road	Pair Corr
0.77	FFTWX	Fidelity Freedom 2025	Pair Corr
0.79	GQLOX	Gmo Quality Fund	Pair Corr
0.74	LIGYX	Loomis Sayles Intern	Pair Corr
0.71	VEMBX	Vanguard Emerging Markets	Pair Corr
0.72	HGXVX	Hartford Global Impact	Pair Corr

Moving against Direxion Mutual Fund

0.61	USPSX	Profunds Ultrashort	Pair Corr
0.61	USPIX	Profunds Ultrashort	Pair Corr
0.58	UIPIX	Ultrashort Mid Cap	Pair Corr

Related Correlations Analysis

	PATFX	MBSAX	MDMTX	FZNQEX	USCBX
PATFX		0.73	0.77	0.65	0.9	PATFX
MBSAX	0.73		0.67	0.67	0.75	MBSAX
MDMTX	0.77	0.67		0.59	0.86	MDMTX
FZNQEX	0.65	0.67	0.59		0.45	FZNQEX
USCBX	0.9	0.75	0.86	0.45		USCBX
	PATFX	MBSAX	MDMTX	FZNQEX	USCBX

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Risk-Adjusted Indicators

There is a big difference between Direxion Mutual Fund performing well and Direxion Monthly Mutual Fund 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 Monthly'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
PATFX	0.16	0.02	(0.24)	(0.08)	0.22	(0.24)	0.44	(0.35)	1.69
MBSAX	0.21	(0.01)	(0.36)	0.03	0.24	(0.22)	0.37	(0.44)	1.25
MDMTX	0.17	0.01	(0.28)	0.01	0.24	(0.23)	0.38	(0.56)	1.33
FZNQEX	0.11	(0.01)	0.00	0.41	0.00	0.00	0.29	(0.17)	0.93
USCBX	0.16	0.02	(0.24)	(0.09)	0.22	(0.23)	0.39	(0.29)	1.74

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