Direxion Correlations
| MOON Etf | USD 0.36 10.13 96.57% |
The current 90-days correlation between Direxion and SPDR Kensho New is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Direxion moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Direxion moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Direxion Correlation With Market
Average diversification
The correlation between Direxion and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion and DJI in the same portfolio, assuming nothing else is changed.
Direxion |
Moving together with Direxion Etf
Moving against Direxion Etf
| 0.65 | GREI | Goldman Sachs Future | PairCorr |
| 0.42 | BITI | ProShares Trust Sell-off Trend | PairCorr |
| 0.41 | SNPD | DBX ETF Trust | PairCorr |
| 0.39 | HART | IQ Healthy Hearts | PairCorr |
| 0.52 | DD | Dupont De Nemours Fiscal Year End 4th of February 2025 | PairCorr |
| 0.52 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
| 0.45 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.42 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.39 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.38 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
| 0.35 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
Related Correlations Analysis
| 0.93 | 0.95 | 0.95 | 0.88 | KOMP | ||
| 0.93 | 0.92 | 0.92 | 0.89 | PRNT | ||
| 0.95 | 0.92 | 0.94 | 0.88 | QQQJ | ||
| 0.95 | 0.92 | 0.94 | 0.95 | ARKX | ||
| 0.88 | 0.89 | 0.88 | 0.95 | IZRL | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Direxion Constituents Risk-Adjusted Indicators
There is a big difference between Direxion Etf performing well and Direxion 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'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| KOMP | 0.99 | 0.07 | 0.06 | 0.08 | 1.22 | 1.77 | 8.41 | |||
| PRNT | 1.05 | 0.08 | 0.06 | 0.09 | 1.12 | 2.78 | 6.34 | |||
| QQQJ | 0.73 | 0.06 | 0.05 | 0.08 | 0.90 | 1.78 | 5.34 | |||
| ARKX | 1.26 | 0.31 | 0.20 | 0.24 | 1.21 | 2.89 | 8.03 | |||
| IZRL | 1.09 | 0.22 | 0.13 | (3.57) | 1.24 | 2.05 | 6.02 |
Direxion Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Direxion etf to make a market-neutral strategy. Peer analysis of Direxion could also be used in its relative valuation, which is a method of valuing Direxion by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |