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

  0.64SSO ProShares Ultra SP500PairCorr
  0.67SPXL Direxion Daily SP500PairCorr
  0.73QLD ProShares Ultra QQQPairCorr
  0.67UPRO ProShares UltraPro SP500PairCorr
  0.83TECL Direxion Daily TechnologyPairCorr
  0.72LABU Direxion Daily SPPairCorr
  0.74VUG Vanguard Growth IndexPairCorr
  0.73VB Vanguard Small CapPairCorr

Moving against Direxion Etf

  0.82VEA Vanguard FTSE Developed Sell-off TrendPairCorr
  0.75BND Vanguard Total BondPairCorr
  0.31FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.94CGUI Capital Group FixedPairCorr
  0.93SCHO Schwab Short TermPairCorr
  0.92EFNL iShares MSCI FinlandPairCorr
  0.89AIVI WisdomTree InternationalPairCorr
  0.89FIVA Fidelity InternationalPairCorr
  0.88SPAQ Horizon Kinetics SPACPairCorr
  0.88SPEU SPDR Portfolio EuropePairCorr
  0.84MOTI VanEck Morningstar Low VolatilityPairCorr
  0.8HCRB Hartford Core BondPairCorr
  0.76DWSH AdvisorShares DorseyPairCorr
  0.74APCB Trust For ProfessionalPairCorr
  0.72EMB iShares JP Morgan Symbol ChangePairCorr
  0.68QHY WisdomTree Short Term Symbol ChangePairCorr
  0.6DEM WisdomTree EmergingPairCorr
  0.59FLBR Franklin FTSE BrazilPairCorr
  0.47PUI Invesco DWA UtilitiesPairCorr
  0.89FLDB Fidelity Low DurationPairCorr
  0.88MNA IQ Merger ArbitragePairCorr
  0.88GHTA Collaborative InvestmentPairCorr
  0.88GSEU Goldman Sachs ActiveBetaPairCorr
  0.82AMPS Altus PowerPairCorr
  0.8UBND Victory PortfoliosPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
JPMMETA
CRMMSFT
TUBER
CRMA
UBERMETA
AMSFT
  
High negative correlations   
MRKUBER
MRKMETA
TMSFT
MRKT
CRMT
MRKJPM

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.57  0.08  0.00 (0.01) 0.00 
 2.57 
 8.90 
MSFT  1.10 (0.14) 0.00 (0.31) 0.00 
 2.58 
 10.31 
UBER  1.93  0.23  0.10  0.33  2.40 
 4.72 
 12.75 
F  1.44  0.06  0.00 (0.04) 0.00 
 2.71 
 10.14 
T  1.04  0.28  0.18  0.42  1.60 
 1.90 
 11.66 
A  1.14 (0.15) 0.00 (0.25) 0.00 
 2.92 
 9.03 
CRM  1.42 (0.23) 0.00 (0.30) 0.00 
 2.72 
 8.88 
JPM  1.09  0.05  0.00 (0.05) 0.00 
 1.99 
 6.85 
MRK  1.21 (0.11) 0.00  2.40  0.00 
 2.07 
 11.58 
XOM  1.05  0.06  0.08  0.06  1.38 
 2.55 
 5.89