Direxion Daily Correlations

DRV Etf  USD 22.40  0.42  1.84%   
The current 90-days correlation between Direxion Daily Real and Direxion Daily Real is -1.0 (i.e., Pay attention - limited upside). 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

Good diversification

The correlation between Direxion Daily Real and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily Real 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 Real. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving against Direxion Etf

  0.39TAIL Cambria Tail RiskPairCorr
  0.6PG Procter GamblePairCorr
  0.52KO Coca Cola Sell-off TrendPairCorr
  0.48JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.46BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.38PFE Pfizer Inc Aggressive PushPairCorr

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   
JPMCRM
CRMT
XOMMETA
XOMCRM
CRMMETA
MRKA
  
High negative correlations   
MRKCRM
MRKJPM
MRKT
JPMA
XOMMRK
MRKMETA

Direxion Daily Competition 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.06  0.06  0.02  0.20  1.40 
 2.62 
 8.02 
MSFT  0.92 (0.05)(0.05) 0.05  1.49 
 2.09 
 8.19 
UBER  1.62 (0.12)(0.05) 0.00  2.30 
 2.69 
 20.10 
F  1.43  0.02 (0.04) 0.48  2.24 
 2.53 
 11.21 
T  0.92  0.28  0.15 (7.88) 0.85 
 2.56 
 6.47 
A  1.17 (0.09) 0.00 (0.05) 0.00 
 2.71 
 9.02 
CRM  1.34  0.21  0.16  0.30  1.16 
 3.18 
 9.09 
JPM  1.12 (0.01) 0.06  0.11  1.40 
 2.05 
 15.87 
MRK  0.91 (0.21) 0.00 (0.74) 0.00 
 2.00 
 4.89 
XOM  1.01 (0.05)(0.08) 0.02  1.33 
 2.10 
 5.74