Direxion Daily Sp Etf Five Year Return
| DRIP Etf | USD 10.45 0.13 1.26% |
Direxion Daily SP fundamentals help investors to digest information that contributes to Direxion Daily's financial success or failures. It also enables traders to predict the movement of Direxion Etf. The fundamental analysis module provides a way to measure Direxion Daily's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Direxion Daily etf.
Direxion |
Direxion Daily SP ETF Five Year Return Analysis
Direxion Daily's Five Year Return is considered one of the best measures to evaluate fund performance, especially from the mid and long term perspective. It shows the total annualized return generated from holding equity for the last five years and represents capital appreciation of the investment, including all dividends, losses, and capital gains distributions.
More About Five Year Return | All Equity Analysis
Five Year Return | = | (Mean of Monthly Returns - 1) | X | 100% |
Current Direxion Daily Five Year Return | (73.00) % |
Most of Direxion Daily's fundamental indicators, such as Five Year Return, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Direxion Daily SP is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Although Five Year Returns can give a sense of overall investment potential, it is recommended to compare equity performance with similar assets for the same five year time interval. Similarly, comparing overall investment performance over the last five years with the appropriate market index is a great way to determine how this equity instrument will perform during unforeseen market fluctuations.
| Competition |
Direxion Daily Five Year Return Component Assessment
According to the company disclosure, Direxion Daily SP has a Five Year Return of -73.0%. This is 259.25% higher than that of the Direxion Funds family and 49.24% higher than that of the Family category. The five year return for all United States etfs is notably higher than that of the company.
Direxion Five Year Return Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Direxion Daily's direct or indirect competition against its Five Year Return to detect undervalued stocks with similar characteristics or determine the etfs which would be a good addition to a portfolio. Peer analysis of Direxion Daily could also be used in its relative valuation, which is a method of valuing Direxion Daily by comparing valuation metrics of similar companies.Direxion Daily is rated # 5 ETF in five year return as compared to similar ETFs.
Direxion Fundamentals
| Number Of Employees | 370 | |||
| Beta | -1.68 | |||
| Total Asset | 101.12 M | |||
| One Year Return | (12.20) % | |||
| Three Year Return | (40.10) % | |||
| Five Year Return | (73.00) % | |||
| Net Asset | 101.12 M | |||
| Last Dividend Paid | 0.016 | |||
| Equity Positions Weight | (1.02) % |
About Direxion Daily Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Direxion Daily SP's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Direxion Daily using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Direxion Daily SP based on its fundamental data. In general, a quantitative approach, as applied to this etf, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Direxion Daily
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Direxion Daily position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Direxion Daily will appreciate offsetting losses from the drop in the long position's value.Moving together with Direxion Etf
| 0.78 | SH | ProShares Short SP500 | PairCorr |
| 0.72 | PSQ | ProShares Short QQQ | PairCorr |
| 0.79 | SPXU | ProShares UltraPro Short | PairCorr |
| 0.78 | SDS | ProShares UltraShort | PairCorr |
| 0.79 | SPXS | Direxion Daily SP | PairCorr |
Moving against Direxion Etf
| 0.98 | DIG | ProShares Ultra Oil | PairCorr |
| 0.83 | ATMP | Barclays ETN Select | PairCorr |
| 0.78 | AMZA | InfraCap MLP ETF | PairCorr |
| 0.74 | GBTC | Grayscale Bitcoin Trust | PairCorr |
| 0.71 | MLPR | ETRACS Quarterly Pay | PairCorr |
The ability to find closely correlated positions to Direxion Daily could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Direxion Daily when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Direxion Daily - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Direxion Daily SP to buy it.
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 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 SP moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Direxion Daily can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Direxion Daily Piotroski F Score and Direxion Daily Altman Z Score analysis. You can also try the Equity Valuation module to check real value of public entities based on technical and fundamental data.
The market value of Direxion Daily SP is measured differently than its book value, which is the value of Direxion that is recorded on the company's balance sheet. Investors also form their own opinion of Direxion Daily's value that differs from its market value or its book value, called intrinsic value, which is Direxion Daily's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Direxion Daily's market value can be influenced by many factors that don't directly affect Direxion Daily's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Direxion Daily's value and its price as these two are different measures arrived at by different means. Investors typically determine if Direxion Daily is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Direxion Daily's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.