Direxion Daily Correlations

JDST Etf

USD 9.48 0.73 7.15%

The current 90-days correlation between Direxion Daily Junior and Direxion Daily Junior is -1.0 (i.e., Pay attention - limited upside). 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 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 Daily Correlation With Market

Very weak diversification

The correlation between Direxion Daily Junior and DJI is 0.46 (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 Junior and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Direxion Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Direxion Daily Junior. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Direxion Etf

0.64	SH	ProShares Short SP500 Sell-off Trend	Pair Corr
0.69	PSQ	ProShares Short QQQ	Pair Corr
0.67	SPXU	ProShares UltraPro Short	Pair Corr
0.64	SDS	ProShares UltraShort	Pair Corr
0.63	SPXS	Direxion Daily SP	Pair Corr
0.64	QID	ProShares UltraShort QQQ	Pair Corr
0.63	RWM	ProShares Short Russ	Pair Corr
0.64	SPDN	Direxion Daily SP Sell-off Trend	Pair Corr

Moving against Direxion Etf

0.74	USD	ProShares Ultra Semi	Pair Corr
0.72	QLD	ProShares Ultra QQQ	Pair Corr
0.71	SMH	VanEck Semiconductor ETF	Pair Corr
0.7	SOXX	iShares Semiconductor ETF	Pair Corr
0.7	UPRO	ProShares UltraPro SP500	Pair Corr
0.68	TECL	Direxion Daily Technology	Pair Corr
0.68	ROM	ProShares Ultra Tech	Pair Corr
0.67	SPXL	Direxion Daily SP500	Pair Corr
0.58	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.56	EUSB	iShares Trust	Pair Corr
0.35	KGRN	KraneShares MSCI China	Pair Corr
0.73	CSCO	Cisco Systems	Pair Corr
0.71	DIS	Walt Disney	Pair Corr
0.69	MSFT	Microsoft Aggressive Push	Pair Corr
0.66	PFE	Pfizer Inc	Pair Corr
0.66	BAC	Bank of America	Pair Corr
0.64	CVX	Chevron Corp	Pair Corr
0.62	BA	Boeing Earnings Call This Week	Pair Corr
0.6	AXP	American Express	Pair Corr
0.57	AA	Alcoa Corp	Pair Corr
0.53	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.47	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.44	MMM	3M Company	Pair Corr
0.4	XOM	Exxon Mobil Corp	Pair Corr
0.31	INTC	Intel Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.81	0.54	0.92	0.25	0.93	0.23	0.54	META
MSFT	0.98		0.86	0.84	0.5	0.88	0.25	0.95	0.24	0.53	MSFT
UBER	0.84	0.86		0.9	0.4	0.8	0.52	0.88	0.21	0.48	UBER
F	0.81	0.84	0.9		0.39	0.84	0.24	0.91	0.43	0.7	F
T	0.54	0.5	0.4	0.39		0.51	0.15	0.49	0.27	0.21	T
A	0.92	0.88	0.8	0.84	0.51		0.16	0.89	0.33	0.66	A
CRM	0.25	0.25	0.52	0.24	0.15	0.16		0.19	-0.27	-0.14	CRM
JPM	0.93	0.95	0.88	0.91	0.49	0.89	0.19		0.3	0.6	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.33	-0.27	0.3		0.55	MRK
XOM	0.54	0.53	0.48	0.7	0.21	0.66	-0.14	0.6	0.55		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

MSFT	+ 0.98	META
JPM	+ 0.95	MSFT
JPM	+ 0.93	META
A	+ 0.92	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.27	CRM
XOM	- 0.14	CRM

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
META	1.50	0.30	0.24	0.36	1.02	(1.80)	3.99	(2.35)	10.48
MSFT	0.89	0.31	0.27	0.48	0.52	(1.06)	2.33	(1.08)	8.85
UBER	1.63	0.19	0.12	0.32	1.40	(2.06)	4.19	(2.54)	10.87
F	1.29	0.20	0.10	0.41	1.39	(1.42)	2.69	(2.33)	7.46
T	1.03	(0.05)	(0.09)	0.02	1.34	(1.08)	2.35	(2.35)	5.71
A	1.46	0.18	0.00	(0.42)	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.14)	(0.05)	0.04	1.71	(1.31)	2.95	(3.19)	9.31
JPM	0.90	0.35	0.18	(2.74)	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.38	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.13	0.06	(0.03)	0.46	1.38	(1.13)	2.40	(2.58)	6.28

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