Direxion Daily Correlations

Etfs . USA . 
Etf . Direxion Daily Regional
DPST Etf  USD 158.19  1.40  0.88%   
The current 90-days correlation between Direxion Daily Regional and Direxion Daily Homebuilders is 0.15 (i.e., Average 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 Regional and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily Regional and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Direxion Daily Regional. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Direxion Etf

  0.81SSO ProShares Ultra SP500PairCorr
  0.81SPXL Direxion Daily SP500PairCorr
  0.76QLD ProShares Ultra QQQPairCorr
  0.81UPRO ProShares UltraPro SP500PairCorr
  0.64TECL Direxion Daily TechnologyPairCorr
  0.68GUSH Direxion Daily SPPairCorr
  0.84FNGU MicroSectors FANG IndexPairCorr
  0.97UYG ProShares Ultra FinaPairCorr
  0.93ARKW ARK Next GenerationPairCorr
  0.8WTMF WisdomTree ManagedPairCorr
  0.69EWC iShares MSCI CanadaPairCorr
  0.7BST BlackRock Science TechPairCorr
  0.73AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.81WMT Walmart Aggressive PushPairCorr
  0.87AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.77TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.62T ATT Inc Aggressive PushPairCorr
  0.82CSCO Cisco Systems Aggressive PushPairCorr
  0.86DIS Walt Disney Aggressive PushPairCorr
  0.85CVX Chevron Corp Sell-off TrendPairCorr
  0.95JPM JPMorgan Chase Sell-off TrendPairCorr

Moving against Direxion Etf

  0.77JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.52IRET Tidal Trust IIPairCorr
  0.36NRGU Bank Of MontrealPairCorr
  0.84KO Coca Cola Sell-off TrendPairCorr
  0.83PFE Pfizer Inc Aggressive PushPairCorr
  0.78MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.56BA Boeing Fiscal Year End 29th of January 2025 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   
DUSL
+ 0.92
TPOR
DUSL
+ 0.86
DFEN
TPOR
+ 0.76
RETL
DUSL
+ 0.74
RETL
DFEN
+ 0.64
TPOR
DFEN
+ 0.58
RETL
  
High negative correlations   
TPOR
- 0.2
NAIL

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.

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