Direxion Shares Correlations

TSLL Etf

USD 7.47 0.87 10.43%

The current 90-days correlation between Direxion Shares ETF and Direxion Shares ETF is -1.0 (i.e., Pay attention - limited upside). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Direxion Shares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Direxion Shares ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Direxion Shares Correlation With Market

Weak diversification

The correlation between Direxion Shares ETF and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Shares ETF 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 Shares ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Direxion Etf

0.64	SSO	ProShares Ultra SP500	Pair Corr
0.67	SPXL	Direxion Daily SP500	Pair Corr
0.73	QLD	ProShares Ultra QQQ	Pair Corr
0.67	UPRO	ProShares UltraPro SP500	Pair Corr
0.83	TECL	Direxion Daily Technology	Pair Corr
0.72	LABU	Direxion Daily SP	Pair Corr
0.74	VUG	Vanguard Growth Index	Pair Corr
0.73	VB	Vanguard Small Cap	Pair Corr

Moving against Direxion Etf

0.82	VEA	Vanguard FTSE Developed Sell-off Trend	Pair Corr
0.75	BND	Vanguard Total Bond	Pair Corr
0.31	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.94	CGUI	Capital Group Fixed	Pair Corr
0.93	SCHO	Schwab Short Term	Pair Corr
0.92	EFNL	iShares MSCI Finland	Pair Corr
0.89	AIVI	WisdomTree International	Pair Corr
0.89	FIVA	Fidelity International	Pair Corr
0.88	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.88	SPEU	SPDR Portfolio Europe	Pair Corr
0.84	MOTI	VanEck Morningstar Low Volatility	Pair Corr
0.8	HCRB	Hartford Core Bond	Pair Corr
0.76	DWSH	AdvisorShares Dorsey	Pair Corr
0.74	APCB	Trust For Professional	Pair Corr
0.72	EMB	iShares JP Morgan Symbol Change	Pair Corr
0.68	QHY	WisdomTree Short Term Symbol Change	Pair Corr
0.6	DEM	WisdomTree Emerging	Pair Corr
0.59	FLBR	Franklin FTSE Brazil	Pair Corr
0.47	PUI	Invesco DWA Utilities	Pair Corr
0.89	FLDB	Fidelity Low Duration	Pair Corr
0.88	MNA	IQ Merger Arbitrage	Pair Corr
0.88	GHTA	Collaborative Investment	Pair Corr
0.88	GSEU	Goldman Sachs ActiveBeta	Pair Corr
0.82	AMPS	Altus Power	Pair Corr
0.8	UBND	Victory Portfolios	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.2	0.68	-0.48	0.47	0.32	0.11	0.89	-0.78	0.18	META
MSFT	-0.2		-0.65	0.38	-0.76	0.64	0.88	-0.04	0.52	-0.25	MSFT
UBER	0.68	-0.65		-0.49	0.8	-0.23	-0.56	0.6	-0.86	0.45	UBER
F	-0.48	0.38	-0.49		-0.24	0.18	0.23	-0.38	0.64	0.24	F
T	0.47	-0.76	0.8	-0.24		-0.53	-0.67	0.28	-0.69	0.44	T
A	0.32	0.64	-0.23	0.18	-0.53		0.74	0.56	0.14	-0.04	A
CRM	0.11	0.88	-0.56	0.23	-0.67	0.74		0.2	0.33	-0.3	CRM
JPM	0.89	-0.04	0.6	-0.38	0.28	0.56	0.2		-0.66	0.19	JPM
MRK	-0.78	0.52	-0.86	0.64	-0.69	0.14	0.33	-0.66		-0.27	MRK
XOM	0.18	-0.25	0.45	0.24	0.44	-0.04	-0.3	0.19	-0.27		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	+ 0.89	META
CRM	+ 0.88	MSFT
T	+ 0.8	UBER
CRM	+ 0.74	A
UBER	+ 0.68	META
A	+ 0.64	MSFT

High negative correlations

MRK	- 0.86	UBER
MRK	- 0.78	META
T	- 0.76	MSFT
MRK	- 0.69	T
CRM	- 0.67	T
MRK	- 0.66	JPM

Direxion Shares Competition Risk-Adjusted Indicators

There is a big difference between Direxion Etf performing well and Direxion Shares 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 Shares' 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	1.57	0.08	0.00	(0.01)	0.00	0.00	2.57	(3.59)	8.90
MSFT	1.10	(0.14)	0.00	(0.31)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.93	0.23	0.10	0.33	2.40	(2.00)	4.72	(3.30)	12.75
F	1.44	0.06	0.00	(0.04)	0.00	0.00	2.71	(2.89)	10.14
T	1.04	0.28	0.18	0.42	1.60	(1.11)	1.90	(1.75)	11.66
A	1.14	(0.15)	0.00	(0.25)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.42	(0.23)	0.00	(0.30)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.09	0.05	0.00	(0.05)	0.00	0.00	1.99	(3.35)	6.85
MRK	1.21	(0.11)	0.00	2.40	0.00	0.00	2.07	(2.25)	11.58
XOM	1.05	0.06	0.08	0.06	1.38	(1.09)	2.55	(2.36)	5.89

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