Direxion Monthly Correlations

DXRLX Fund

USD 82.60 0.94 1.13%

The current 90-days correlation between Direxion Monthly Small and Direxion Hilton Tactical is 0.83 (i.e., Very poor 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

Very poor diversification

The correlation between Direxion Monthly Small and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Monthly Small 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 Small. 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 bureau of economic analysis.

Moving together with Direxion Mutual Fund

0.98	HCYAX	Direxion Hilton Tactical	Pair Corr
0.98	HCYIX	Direxion Hilton Tactical	Pair Corr
0.97	DXHYX	Direxion Monthly High	Pair Corr
0.98	DXNLX	Direxion Monthly Nasdaq	Pair Corr
0.98	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.99	DXSLX	Direxion Monthly	Pair Corr
0.98	RYVYX	Nasdaq 100 2x	Pair Corr
0.98	RYVLX	Nasdaq 100 2x	Pair Corr
0.98	RYCCX	Nasdaq 100 2x	Pair Corr
0.98	UOPIX	Ultra Nasdaq 100	Pair Corr
0.98	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.98	RMQHX	Monthly Rebalance	Pair Corr
0.98	RMQAX	Monthly Rebalance	Pair Corr
0.98	RMQCX	Monthly Rebalance	Pair Corr
0.97	INPSX	Internet Ultrasector	Pair Corr
0.8	GAAKX	Gmo Alternative Allo	Pair Corr
0.8	GAAGX	Gmo Alternative Allo	Pair Corr
0.68	GPBFX	Gmo E Plus	Pair Corr
0.95	KNGLX	Cboe Vest Sp	Pair Corr
0.98	LSIRX	Clearbridge Mid Cap	Pair Corr
0.98	SWCGX	Schwab Markettrack	Pair Corr
0.98	RBITX	American Funds 2050	Pair Corr
0.98	FMSDX	Fidelity Advisor Multi	Pair Corr
0.98	MHYIX	Mainstay High Yield	Pair Corr
0.99	FSDIX	Fidelity Strategic	Pair Corr
0.99	MITTX	Massachusetts Investors	Pair Corr
0.99	VFINX	Vanguard 500 Index	Pair Corr
0.94	USDIX	Ubs Ultra Short	Pair Corr
0.99	MIFIX	Miller Intermediate Bond	Pair Corr
0.99	FBKFX	Fidelity Balanced	Pair Corr
0.99	VFIAX	Vanguard 500 Index	Pair Corr

Moving against Direxion Mutual Fund

0.42

GPMFX

Guidepath Managed Futures

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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