Direxion Daily Correlations

SOXS Etf

USD 22.73 0.69 2.95%

The current 90-days correlation between Direxion Daily Semic and Direxion Daily Semiconductor is -1.0 (i.e., Pay attention - limited upside). The correlation of Direxion Daily 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 Daily Correlation With Market

Excellent diversification

The correlation between Direxion Daily Semiconductor and DJI is -0.56 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily Semiconductor and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Direxion Daily Semiconductor. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Direxion Etf

0.64	SH	ProShares Short SP500 Sell-off Trend	Pair Corr
0.69	PSQ	ProShares Short QQQ Sell-off Trend	Pair Corr
0.63	SPXU	ProShares UltraPro Short	Pair Corr
0.63	SDS	ProShares UltraShort	Pair Corr
0.63	SPXS	Direxion Daily SP	Pair Corr
0.68	QID	ProShares UltraShort QQQ Sell-off Trend	Pair Corr
0.65	SPDN	Direxion Daily SP Sell-off Trend	Pair Corr

Moving against Direxion Etf

0.61	UPRO	ProShares UltraPro SP500	Pair Corr
0.6	QTAP	Innovator Growth 100	Pair Corr
0.59	QTJA	Innovator ETFs Trust	Pair Corr
0.55	XTAP	Innovator Equity Acc	Pair Corr
0.52	XDJA	Innovator ETFs Trust	Pair Corr
0.51	XTJA	Innovator ETFs Trust	Pair Corr
0.37	DSJA	DSJA	Pair Corr
0.35	TSJA	TSJA	Pair Corr
0.77	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.74	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.65	HD	Home Depot	Pair Corr
0.61	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.59	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.59	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.57	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.54	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.46	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.4	MSFT	Microsoft	Pair Corr
0.4	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.29	0.57	-0.02	0.6	0.02	0.68	0.28	-0.56	0.72	META
MSFT	0.29		0.24	0.12	0.2	-0.02	0.02	-0.17	0.11	-0.18	MSFT
UBER	0.57	0.24		-0.02	0.02	0.26	0.05	-0.1	0.04	0.36	UBER
F	-0.02	0.12	-0.02		0.0	-0.37	0.36	0.62	-0.24	0.29	F
T	0.6	0.2	0.02	0.0		-0.48	0.73	0.49	-0.76	0.39	T
A	0.02	-0.02	0.26	-0.37	-0.48		-0.48	-0.65	0.64	-0.01	A
CRM	0.68	0.02	0.05	0.36	0.73	-0.48		0.83	-0.92	0.68	CRM
JPM	0.28	-0.17	-0.1	0.62	0.49	-0.65	0.83		-0.83	0.51	JPM
MRK	-0.56	0.11	0.04	-0.24	-0.76	0.64	-0.92	-0.83		-0.57	MRK
XOM	0.72	-0.18	0.36	0.29	0.39	-0.01	0.68	0.51	-0.57		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.83	CRM
CRM	+ 0.73	T
XOM	+ 0.72	META
CRM	+ 0.68	META
XOM	+ 0.68	CRM
MRK	+ 0.64	A

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.76	T
JPM	- 0.65	A
XOM	- 0.57	MRK
MRK	- 0.56	META

Direxion Daily Competition 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
META	1.05	0.00	(0.03)	0.12	1.40	(1.14)	2.62	(3.15)	8.02
MSFT	0.88	(0.08)	(0.07)	0.01	1.51	(0.82)	2.09	(1.85)	8.19
UBER	1.60	(0.14)	0.00	(0.02)	0.00	0.00	2.69	(2.44)	20.10
F	1.43	(0.12)	(0.02)	0.04	2.19	(1.43)	2.75	(2.90)	11.72
T	0.92	0.28	0.14	24.43	0.85	(1.04)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.28	0.29	0.25	0.37	0.90	(1.52)	3.18	(1.91)	9.09
JPM	1.12	0.00	0.06	0.12	1.44	(1.17)	2.05	(2.00)	15.87
MRK	0.85	(0.26)	0.00	(1.12)	0.00	0.00	1.73	(2.13)	4.89
XOM	1.03	0.03	(0.01)	0.18	1.21	(1.11)	2.14	(2.09)	5.78

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