Direxion Daily Correlations

The current 90-days correlation between Direxion Daily 7 and Direxion Daily 7 10 is -0.99 (i.e., Pay attention - limited upside). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Direxion Daily moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Direxion Daily 7 10 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Direxion Daily Correlation With Market

Modest diversification

The correlation between Direxion Daily 7 10 and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily 7 10 and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Direxion Etf

0.99	TBT	ProShares UltraShort	Pair Corr
0.92	TBF	ProShares Short 20	Pair Corr
0.93	PST	ProShares UltraShort Potential Growth	Pair Corr
0.82	SHLD	Global X Funds	Pair Corr
0.84	WINN	Harbor Long Term	Pair Corr
0.71	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.85	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.83	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.72	HPQ	HP Inc	Pair Corr
0.64	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.65	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.67	DIS	Walt Disney Aggressive Push	Pair Corr
0.61	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.83	CSCO	Cisco Systems Aggressive Push	Pair Corr

Moving against Direxion Etf

0.89	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.87	KO	Coca Cola Sell-off Trend	Pair Corr
0.82	FNGD	MicroSectors FANG Index	Pair Corr
0.77	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.59	SMI	VanEck Vectors ETF	Pair Corr
0.5	PG	Procter Gamble	Pair Corr
0.45	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.43	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.27	0.55	0.02	0.55	0.04	0.64	0.28	-0.53	0.72	META
MSFT	0.27		0.22	0.17	0.18	-0.01	0.03	-0.12	0.12	-0.19	MSFT
UBER	0.55	0.22		-0.08	-0.06	0.27	-0.01	-0.14	0.08	0.35	UBER
F	0.02	0.17	-0.08		0.16	-0.49	0.42	0.61	-0.31	0.2	F
T	0.55	0.18	-0.06	0.16		-0.5	0.79	0.6	-0.78	0.38	T
A	0.04	-0.01	0.27	-0.49	-0.5		-0.47	-0.62	0.64	-0.01	A
CRM	0.64	0.03	-0.01	0.42	0.79	-0.47		0.85	-0.91	0.65	CRM
JPM	0.28	-0.12	-0.14	0.61	0.6	-0.62	0.85		-0.83	0.48	JPM
MRK	-0.53	0.12	0.08	-0.31	-0.78	0.64	-0.91	-0.83		-0.56	MRK
XOM	0.72	-0.19	0.35	0.2	0.38	-0.01	0.65	0.48	-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	+ 0.85	CRM
CRM	+ 0.79	T
XOM	+ 0.72	META
XOM	+ 0.65	CRM
CRM	+ 0.64	META
MRK	+ 0.64	A

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.62	A
XOM	- 0.56	MRK
MRK	- 0.53	META

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.06	0.06	0.02	0.20	1.40	(1.15)	2.62	(3.15)	8.02
MSFT	0.92	(0.05)	(0.05)	0.05	1.49	(0.89)	2.09	(1.85)	8.19
UBER	1.62	(0.12)	(0.05)	0.00	2.30	(1.74)	2.69	(2.53)	20.10
F	1.43	0.02	(0.04)	0.48	2.24	(1.39)	2.53	(2.90)	11.21
T	0.92	0.28	0.15	(7.88)	0.85	(1.05)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.05)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.34	0.21	0.16	0.30	1.16	(1.53)	3.18	(1.93)	9.09
JPM	1.12	(0.01)	0.06	0.11	1.40	(1.21)	2.05	(2.00)	15.87
MRK	0.91	(0.21)	0.00	(0.74)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.01	(0.05)	(0.08)	0.02	1.33	(1.07)	2.10	(2.09)	5.74

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