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.
Direxion |
Moving together with Direxion Etf
0.64 | SSO | ProShares Ultra SP500 | PairCorr |
0.67 | SPXL | Direxion Daily SP500 | PairCorr |
0.73 | QLD | ProShares Ultra QQQ | PairCorr |
0.67 | UPRO | ProShares UltraPro SP500 | PairCorr |
0.83 | TECL | Direxion Daily Technology | PairCorr |
0.72 | LABU | Direxion Daily SP | PairCorr |
0.74 | VUG | Vanguard Growth Index | PairCorr |
0.73 | VB | Vanguard Small Cap | PairCorr |
Moving against Direxion Etf
0.82 | VEA | Vanguard FTSE Developed Sell-off Trend | PairCorr |
0.75 | BND | Vanguard Total Bond | PairCorr |
0.31 | FNGU | MicroSectors FANG Index Symbol Change | PairCorr |
0.94 | CGUI | Capital Group Fixed | PairCorr |
0.93 | SCHO | Schwab Short Term | PairCorr |
0.92 | EFNL | iShares MSCI Finland | PairCorr |
0.89 | AIVI | WisdomTree International | PairCorr |
0.89 | FIVA | Fidelity International | PairCorr |
0.88 | SPAQ | Horizon Kinetics SPAC | PairCorr |
0.88 | SPEU | SPDR Portfolio Europe | PairCorr |
0.84 | MOTI | VanEck Morningstar Low Volatility | PairCorr |
0.8 | HCRB | Hartford Core Bond | PairCorr |
0.76 | DWSH | AdvisorShares Dorsey | PairCorr |
0.74 | APCB | Trust For Professional | PairCorr |
0.72 | EMB | iShares JP Morgan Symbol Change | PairCorr |
0.68 | QHY | WisdomTree Short Term Symbol Change | PairCorr |
0.6 | DEM | WisdomTree Emerging | PairCorr |
0.59 | FLBR | Franklin FTSE Brazil | PairCorr |
0.47 | PUI | Invesco DWA Utilities | PairCorr |
0.89 | FLDB | Fidelity Low Duration | PairCorr |
0.88 | MNA | IQ Merger Arbitrage | PairCorr |
0.88 | GHTA | Collaborative Investment | PairCorr |
0.88 | GSEU | Goldman Sachs ActiveBeta | PairCorr |
0.82 | AMPS | Altus Power | PairCorr |
0.8 | UBND | Victory Portfolios | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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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 | 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 |