Direxion Monthly Correlations

Mutual Funds . USA . 
Fund . Direxion Monthly 7 10
DXKLX Fund  USD 23.54  0.01  0.04%   
The current 90-days correlation between Direxion Monthly 7 and Oppenheimer Gold Special is 0.23 (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 good diversification

The correlation between Direxion Monthly 7 10 and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Monthly 7 10 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 7 10. 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 bureau of economic analysis.

Moving together with Direxion Mutual Fund

  0.99RYABX Government Long BondPairCorr
  0.97RYGBX Government Long BondPairCorr
  0.97RYHBX Government Long BondPairCorr
  0.97RYCGX Government Long BondPairCorr
  0.97GVPSX Us Government PlusPairCorr
  0.97GVPIX Us Government PlusPairCorr

Moving against Direxion Mutual Fund

  1.0DXKSX Direxion Monthly 7PairCorr
  0.93LSHCX Horizon Spin Off Steady GrowthPairCorr
  0.92KNPAX Kinetics Paradigm Steady GrowthPairCorr
  0.92KMKAX Kinetics Market Oppo Steady GrowthPairCorr
  0.92KNPYX Kinetics Paradigm Steady GrowthPairCorr
  0.8DXNLX Direxion Monthly NasdaqPairCorr
  0.8DXQLX Direxion Monthly NasdaqPairCorr
  0.8DXSLX Direxion MonthlyPairCorr
  0.79SMPSX Semiconductor UltrasectorPairCorr
  0.72DXRLX Direxion Monthly SmallPairCorr
  0.72LETRX Voya Russia FundPairCorr
  0.37HCYAX Direxion Hilton TacticalPairCorr
  0.35HCYIX Direxion Hilton TacticalPairCorr
  0.93LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.92KNPCX Kinetics Paradigm Steady GrowthPairCorr
  0.92KMKCX Kinetics Market Oppo Steady GrowthPairCorr
  0.92WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.87LTFOX Lord Abbett AffiliatedPairCorr
  0.87RQECX Resq Dynamic AllocationPairCorr
  0.85VIGAX Vanguard Growth IndexPairCorr
  0.83VFIAX Vanguard 500 IndexPairCorr
  0.83VFINX Vanguard 500 IndexPairCorr
  0.83VTSMX Vanguard Total StockPairCorr
  0.82AGTHX Growth FundPairCorr
  0.8LLPFX Longleaf PartnersPairCorr
  0.75SMERX Invesco Small CapPairCorr
  0.74FBALX Fidelity BalancedPairCorr
  0.69SCRYX Small Cap CorePairCorr
  0.66FEMDX Franklin Emerging MarketPairCorr
  0.55GAB Gabelli Equity TrustPairCorr
  0.5PAHHX T Rowe PricePairCorr
  0.48RIV Rivernorth OpportunitiesPairCorr

Related Correlations Analysis

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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.

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