Direxion Monthly Correlations

DXKSX Fund

USD 28.47 0.11 0.38%

The current 90-days correlation between Direxion Monthly 7 and Direxion Hilton Tactical is -0.37 (i.e., Very good diversification). The correlation of Direxion Monthly 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 Monthly Correlation With Market

Good diversification

The correlation between Direxion Monthly 7 10 and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Monthly 7 10 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 Monthly 7 10. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Direxion Mutual Fund

0.91	RYJUX	Inverse Government Long	Pair Corr
0.91	RYHJX	Inverse Government Long	Pair Corr
0.92	RYJCX	Inverse Government Long	Pair Corr
0.91	RYAQX	Inverse Government Long	Pair Corr
0.94	RRPSX	Rising Rates Opportunity	Pair Corr
1.0	RTPSX	Rising Rates Opportunity	Pair Corr
0.93	RRPIX	Rising Rates Opportunity	Pair Corr

Moving against Direxion Mutual Fund

0.96	DXKLX	Direxion Monthly 7	Pair Corr
0.5	IFBFX	Intermediate Bond	Pair Corr

Related Correlations Analysis

	HCYAX	HCYIX	DXHYX	DXKSX	DXKLX	DXNLX	DXQLX	DXRLX	DXSLX
HCYAX		1.0	0.97	0.14	0.12	0.98	0.98	0.98	0.99	HCYAX
HCYIX	1.0		0.98	0.14	0.12	0.98	0.98	0.98	0.99	HCYIX
DXHYX	0.97	0.98		0.13	0.12	0.97	0.97	0.97	0.97	DXHYX
DXKSX	0.14	0.14	0.13		-0.96	0.3	0.29	0.26	0.27	DXKSX
DXKLX	0.12	0.12	0.12	-0.96		-0.04	-0.04	0.0	-0.01	DXKLX
DXNLX	0.98	0.98	0.97	0.3	-0.04		1.0	0.98	1.0	DXNLX
DXQLX	0.98	0.98	0.97	0.29	-0.04	1.0		0.98	1.0	DXQLX
DXRLX	0.98	0.98	0.97	0.26	0.0	0.98	0.98		0.99	DXRLX
DXSLX	0.99	0.99	0.97	0.27	-0.01	1.0	1.0	0.99		DXSLX
	HCYAX	HCYIX	DXHYX	DXKSX	DXKLX	DXNLX	DXQLX	DXRLX	DXSLX

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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

HCYIX	+ 1.0	HCYAX
DXQLX	+ 1.0	DXNLX
DXSLX	+ 1.0	DXNLX
DXSLX	+ 1.0	DXQLX
DXSLX	+ 0.99	HCYAX
DXSLX	+ 0.99	HCYIX

High negative correlations

DXKLX	- 0.96	DXKSX
DXQLX	- 0.04	DXKLX
DXNLX	- 0.04	DXKLX
DXSLX	- 0.01	DXKLX
DXRLX	- 0.0	DXKLX

Risk-Adjusted Indicators

There is a big difference between Direxion Mutual Fund performing well and Direxion Monthly Mutual Fund 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 Monthly'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
HCYAX	0.26	0.03	(0.14)	0.24	0.13	(0.29)	0.63	(0.50)	1.78
HCYIX	0.26	0.03	(0.14)	0.23	0.12	(0.31)	0.74	(0.50)	1.78
DXHYX	0.25	0.04	(0.16)	0.31	0.00	(0.29)	0.76	(0.46)	1.93
DXKSX	0.54	0.01	(0.21)	(0.04)	0.58	(0.59)	1.15	(0.84)	2.59
DXKLX	0.55	(0.01)	(0.19)	(0.03)	0.70	(0.52)	0.91	(1.21)	2.68
DXNLX	0.99	0.21	0.18	0.30	0.84	(1.10)	2.90	(1.60)	6.70
DXQLX	1.37	0.30	0.21	0.30	1.28	(1.53)	4.14	(2.22)	9.21
DXRLX	1.61	0.21	0.17	0.24	1.63	(1.84)	3.91	(3.16)	10.58
DXSLX	1.14	0.18	0.17	0.24	1.17	(1.29)	3.48	(1.97)	8.39

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