Direxion Shares (Mexico) Market Value
| FAS Etf | MXN 3,736 1.00 0.03% |
| Symbol | Direxion |
Direxion Shares 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Direxion Shares' etf what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Direxion Shares.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Direxion Shares on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Direxion Shares ETF or generate 0.0% return on investment in Direxion Shares over 540 days. Direxion Shares is related to or competes with Promotora, UnitedHealth Group, Qulitas Controladora, Hoteles City, Grupo Hotelero, Fomento Econmico, and Applied Materials. The investment seeks daily investment results, before fees and expenses, of 300 percent of the daily performance of the ... More
Direxion Shares Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Direxion Shares' etf current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Direxion Shares ETF upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.43 | |||
| Information Ratio | 0.1829 | |||
| Maximum Drawdown | 25.56 | |||
| Value At Risk | (3.57) | |||
| Potential Upside | 4.96 |
Direxion Shares Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Direxion Shares' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Direxion Shares' standard deviation. In reality, there are many statistical measures that can use Direxion Shares historical prices to predict the future Direxion Shares' volatility.| Risk Adjusted Performance | 0.1753 | |||
| Jensen Alpha | 0.7688 | |||
| Total Risk Alpha | 0.2287 | |||
| Sortino Ratio | 0.2638 | |||
| Treynor Ratio | (7.49) |
Direxion Shares ETF Backtested Returns
Direxion Shares appears to be very steady, given 3 months investment horizon. Direxion Shares ETF secures Sharpe Ratio (or Efficiency) of 0.18, which denotes the etf had a 0.18% return per unit of risk over the last 3 months. By reviewing Direxion Shares' technical indicators, you can evaluate if the expected return of 0.65% is justified by implied risk. Please utilize Direxion Shares' Coefficient Of Variation of 457.51, mean deviation of 2.34, and Downside Deviation of 2.43 to check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of -0.1, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Direxion Shares are expected to decrease at a much lower rate. During the bear market, Direxion Shares is likely to outperform the market.
Auto-correlation | 0.87 |
Very good predictability
Direxion Shares ETF has very good predictability. Overlapping area represents the amount of predictability between Direxion Shares time series from 8th of June 2023 to 4th of March 2024 and 4th of March 2024 to 29th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Direxion Shares ETF price movement. The serial correlation of 0.87 indicates that approximately 87.0% of current Direxion Shares price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.87 | |
| Spearman Rank Test | 0.7 | |
| Residual Average | 0.0 | |
| Price Variance | 292.3 K |
Direxion Shares ETF lagged returns against current returns
Autocorrelation, which is Direxion Shares etf's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Direxion Shares' etf expected returns. We can calculate the autocorrelation of Direxion Shares returns to help us make a trade decision. For example, suppose you find that Direxion Shares has exhibited high autocorrelation historically, and you observe that the etf is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Direxion Shares regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Direxion Shares etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Direxion Shares etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Direxion Shares etf over time.
Current vs Lagged Prices |
| Timeline |
Direxion Shares Lagged Returns
When evaluating Direxion Shares' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Direxion Shares etf have on its future price. Direxion Shares autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Direxion Shares autocorrelation shows the relationship between Direxion Shares etf current value and its past values and can show if there is a momentum factor associated with investing in Direxion Shares ETF.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Information and Resources on Investing in Direxion Etf
When determining whether Direxion Shares ETF offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Direxion Shares' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Direxion Shares Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Direxion Shares Etf:Check out Direxion Shares Correlation, Direxion Shares Volatility and Direxion Shares Alpha and Beta module to complement your research on Direxion Shares. You can also try the Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Direxion Shares technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.