Direxion Competition
| EVAV Etf | USD 28.62 0.00 0.00% |
Direxion vs AltShares Event Correlation Overview
Very weak diversification
The correlation between EVAV and EVNT is 0.56, which Macroaxis classifies as Very weak diversification for the selected horizon. Used correctly, the chart helps investors judge whether adding the second position genuinely diversifies the first.
Moving together with Direxion Etf
Moving against Direxion Etf
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Direxion's price to converge to an average value over time is called mean reversion.
Direxion Competition Correlation Matrix
Correlation analysis between Direxion and its competitors helps investors understand whether diversification is real or only superficial inside the same peer group. This matrix is most informative when investors want to know whether adding another peer would improve diversification, increase crowding, or leave total risk largely unchanged.
High positive correlations
| High negative correlations
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Direxion Competition Risk-Adjusted Indicators
There is a big difference between Direxion Etf performing well and Direxion 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'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 | 1.42 | -0.03 | 0.00 | -0.09 | 0.00 | 2.30 | 13.69 | |||
| MSFT | 1.28 | -0.25 | 0.00 | -0.77 | 0.00 | 2.19 | 13.28 | |||
| UBER | 1.58 | -0.31 | 0.00 | -0.96 | 0.00 | 2.70 | 11.09 | |||
| F | 1.34 | -0.04 | 0.00 | -0.09 | 0.00 | 3.61 | 10.01 | |||
| T | 1.13 | 0.13 | 0.14 | -0.58 | 1.21 | 3.87 | 8.53 | |||
| A | 1.29 | -0.34 | 0.00 | -0.37 | 0.00 | 2.48 | 7.20 | |||
| CRM | 1.74 | -0.36 | 0.00 | -0.66 | 0.00 | 3.41 | 9.78 | |||
| JPM | 1.24 | -0.08 | 0.00 | -0.10 | 0.00 | 2.34 | 8.17 | |||
| MRK | 1.18 | 0.27 | 0.19 | 0.49 | 1.27 | 2.54 | 7.29 | |||
| XOM | 1.34 | 0.43 | 0.32 | 14.65 | 1.12 | 2.90 | 6.83 |
Direxion Competitive Analysis
| Better Than Average | Worse Than Peers | View Performance Chart |
Peer Performance Charts
How to Analyze Direxion Against Peers
Direxion's peer analysis compares Direxion with related companies to put valuation, quality, and risk metrics in context. This helps determine whether recent performance is company-specific or broadly sector-driven. A practical workflow includes:- Set a relevant peer group: Include direct competitors and close alternatives with comparable business exposure.
- Benchmark core financials: Compare profitability, growth, capital structure, and cash flow quality.
- Check valuation dispersion: Review whether Direxion trades at a premium or discount versus peers and why.
- Evaluate risk profile: Compare volatility, drawdowns, and correlation to avoid false diversification assumptions.
- Document the thesis: Record where Direxion leads or lags and what catalysts could close or widen the gap.