Direxion Daily Correlations

CLDL Etf

USD 14.16 0.02 0.14%

The current 90-days correlation between Direxion Daily Cloud and Direxion Daily Industrials is 0.61 (i.e., Poor diversification). 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 Cloud moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Direxion Daily Correlation With Market

Very weak diversification

The correlation between Direxion Daily Cloud and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily Cloud and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Direxion Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Direxion Daily Cloud. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Direxion Etf

0.87	SSO	ProShares Ultra SP500	Pair Corr
0.86	SPXL	Direxion Daily SP500	Pair Corr
0.88	QLD	ProShares Ultra QQQ	Pair Corr
0.66	NRGU	Bank of Montreal	Pair Corr
0.86	UPRO	ProShares UltraPro SP500	Pair Corr
0.84	TECL	Direxion Daily Technology	Pair Corr
0.74	GUSH	Direxion Daily SP	Pair Corr
0.86	UYG	ProShares Ultra Fina	Pair Corr
0.87	VTI	Vanguard Total Stock	Pair Corr
0.87	SPY	SPDR SP 500	Pair Corr
0.87	IVV	iShares Core SP	Pair Corr
0.83	VTV	Vanguard Value Index	Pair Corr
0.88	VUG	Vanguard Growth Index	Pair Corr
0.88	VO	Vanguard Mid Cap	Pair Corr
0.87	VEA	Vanguard FTSE Developed	Pair Corr
0.86	VB	Vanguard Small Cap	Pair Corr
0.84	VWO	Vanguard FTSE Emerging	Pair Corr
0.85	GRW	TCW Compounders ETF	Pair Corr
0.66	DIS	Walt Disney	Pair Corr
0.71	IBM	International Business	Pair Corr

Moving against Direxion Etf

0.54

MCD

McDonalds

Pair Corr

Related Correlations Analysis

	DUSL	OOTO	WANT	WEBL
DUSL		0.97	0.94	0.97	DUSL
OOTO	0.97		0.91	0.92	OOTO
WANT	0.94	0.91		0.89	WANT
WEBL	0.97	0.92	0.89		WEBL
	DUSL	OOTO	WANT	WEBL

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DUSL	1.86	0.41	0.33	0.41	1.25	(2.28)	5.43	(2.67)	14.37
OOTO	1.99	0.30	0.21	0.36	1.71	(2.32)	5.47	(3.15)	14.26
WANT	2.63	0.20	0.15	0.29	2.91	(2.83)	4.81	(4.21)	22.81
WEBL	2.38	0.45	0.28	0.45	1.76	(3.19)	5.07	(3.54)	16.42

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