Direxion Daily Correlations

UBOT Etf

USD 25.34 0.04 0.16%

The current 90-days correlation between Direxion Daily Robotics and Direxion Daily Industrials is 0.64 (i.e., Poor diversification). 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

Poor diversification

The correlation between Direxion Daily Robotics and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily Robotics 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 Robotics. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Direxion Etf

0.87	SSO	ProShares Ultra SP500	Pair Corr
0.88	SPXL	Direxion Daily SP500	Pair Corr
0.91	QLD	ProShares Ultra QQQ	Pair Corr
0.88	UPRO	ProShares UltraPro SP500	Pair Corr
0.87	TECL	Direxion Daily Technology	Pair Corr
0.67	GUSH	Direxion Daily SP	Pair Corr
0.86	FNGU	MicroSectors FANG Index	Pair Corr
0.71	UYG	ProShares Ultra Fina	Pair Corr
0.7	DSJA	DSJA	Pair Corr
0.68	RSPY	Tuttle Capital Management	Pair Corr
0.72	MEME	Roundhill Investments	Pair Corr
0.79	ITDD	iShares Trust	Pair Corr
0.65	HD	Home Depot	Pair Corr
0.81	HPQ	HP Inc	Pair Corr
0.67	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.68	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.66	WMT	Walmart Aggressive Push	Pair Corr
0.79	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.69	BAC	Bank of America Aggressive Push	Pair Corr
0.83	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Moving against Direxion Etf

0.45	NRGU	Bank Of Montreal	Pair Corr
0.7	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.67	KO	Coca Cola Aggressive Push	Pair Corr
0.58	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.55	PG	Procter Gamble	Pair Corr
0.44	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.56	-0.01	0.59	0.02	0.66	0.28	-0.55	0.71	META
MSFT	0.28		0.24	0.11	0.18	-0.01	0.01	-0.17	0.12	-0.19	MSFT
UBER	0.56	0.24		-0.03	0.0	0.26	0.03	-0.11	0.05	0.36	UBER
F	-0.01	0.11	-0.03		0.06	-0.38	0.4	0.65	-0.28	0.3	F
T	0.59	0.18	0.0	0.06		-0.5	0.75	0.52	-0.77	0.38	T
A	0.02	-0.01	0.26	-0.38	-0.5		-0.48	-0.64	0.64	-0.01	A
CRM	0.66	0.01	0.03	0.4	0.75	-0.48		0.84	-0.92	0.68	CRM
JPM	0.28	-0.17	-0.11	0.65	0.52	-0.64	0.84		-0.83	0.51	JPM
MRK	-0.55	0.12	0.05	-0.28	-0.77	0.64	-0.92	-0.83		-0.56	MRK
XOM	0.71	-0.19	0.36	0.3	0.38	-0.01	0.68	0.51	-0.56		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	+ 0.84	CRM
CRM	+ 0.75	T
XOM	+ 0.71	META
XOM	+ 0.68	CRM
CRM	+ 0.66	META
JPM	+ 0.65	F

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.77	T
JPM	- 0.64	A
XOM	- 0.56	MRK
MRK	- 0.55	META

Direxion Daily Constituents 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	1.06	0.02	(0.01)	0.15	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.88	(0.08)	(0.07)	0.01	1.51	(0.83)	2.09	(1.85)	8.19
UBER	1.62	(0.12)	(0.05)	0.00	2.25	(1.79)	2.69	(2.44)	20.10
F	1.41	(0.13)	(0.03)	0.03	2.20	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.13	(10.00)	0.86	(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	0.26	0.21	0.35	0.91	(1.51)	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	0.88	(0.24)	0.00	(0.81)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.03	0.00	(0.04)	0.12	1.25	(1.10)	2.14	(2.09)	5.78

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