Direxion Auspice Correlations

COM Etf

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The current 90-days correlation between Direxion Auspice Broad and iShares Bloomberg Roll is 0.19 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Direxion Auspice moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Direxion Auspice Broad moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Direxion Auspice Correlation With Market

Significant diversification

The correlation between Direxion Auspice Broad and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Auspice Broad 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 Auspice Broad. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Direxion Etf

0.78	DJP	iPath Bloomberg Commodity	Pair Corr
0.73	BCI	abrdn Bloomberg All	Pair Corr
0.71	CMDY	iShares Bloomberg Roll	Pair Corr
0.72	COMB	GraniteShares Bloomberg	Pair Corr

Moving against Direxion Etf

0.66	GSJY	Goldman Sachs ActiveBeta	Pair Corr
0.64	HUM	Humana Inc	Pair Corr
0.55	BKUI	BNY Mellon ETF	Pair Corr
0.47	DUKH	Ocean Park High	Pair Corr
0.45	LUX	Tema ETF Trust	Pair Corr
0.45	WINN	Harbor Long Term	Pair Corr
0.45	FALN	iShares Fallen Angels	Pair Corr
0.44	ESGV	Vanguard ESG Stock	Pair Corr
0.43	LRGF	iShares Equity Factor	Pair Corr
0.38	SHLD	Global X Defense	Pair Corr
0.38	SPYV	SPDR Portfolio SP	Pair Corr
0.37	SWP	SWP Growth Income	Pair Corr
0.37	WDTE	Defiance SP 500 Symbol Change	Pair Corr
0.35	WTV	WisdomTree Trust	Pair Corr
0.34	IJT	iShares SP Small	Pair Corr
0.33	CUYTY	Etablissementen Franz Downward Rally	Pair Corr
0.32	RXI	iShares Global Consumer	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.79	0.57	0.68	0.56	0.32	-0.72	0.7	0.53	0.19	META
MSFT	0.79		0.52	0.66	0.23	0.23	-0.56	0.87	0.56	0.35	MSFT
UBER	0.57	0.52		0.89	0.48	0.6	-0.22	0.72	0.72	0.45	UBER
F	0.68	0.66	0.89		0.55	0.61	-0.42	0.81	0.81	0.53	F
T	0.56	0.23	0.48	0.55		0.48	-0.45	0.39	0.55	0.11	T
A	0.32	0.23	0.6	0.61	0.48		0.06	0.47	0.7	0.63	A
CRM	-0.72	-0.56	-0.22	-0.42	-0.45	0.06		-0.37	-0.35	0.04	CRM
JPM	0.7	0.87	0.72	0.81	0.39	0.47	-0.37		0.71	0.49	JPM
MRK	0.53	0.56	0.72	0.81	0.55	0.7	-0.35	0.71		0.62	MRK
XOM	0.19	0.35	0.45	0.53	0.11	0.63	0.04	0.49	0.62		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

F	+ 0.89	UBER
JPM	+ 0.87	MSFT
JPM	+ 0.81	F
MRK	+ 0.81	F
MSFT	+ 0.79	META
JPM	+ 0.72	UBER

High negative correlations

CRM	- 0.72	META
CRM	- 0.56	MSFT
CRM	- 0.45	T
CRM	- 0.42	F
JPM	- 0.37	CRM
MRK	- 0.35	CRM

Direxion Auspice Competition Risk-Adjusted Indicators

There is a big difference between Direxion Etf performing well and Direxion Auspice 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 Auspice'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	1.37	0.30	0.09	(0.27)	1.18	(1.68)	3.16	(2.27)	14.28
MSFT	0.69	0.11	0.06	0.40	0.58	(0.79)	1.58	(1.42)	5.71
UBER	1.40	0.07	0.00	0.32	1.65	(1.47)	2.72	(2.30)	11.37
F	1.27	0.11	0.07	0.18	1.47	(1.28)	2.55	(2.36)	7.46
T	0.78	0.07	0.01	0.28	0.91	(0.80)	1.75	(1.96)	5.41
A	1.41	0.22	0.06	(1.10)	1.61	(1.49)	3.24	(2.46)	9.19
CRM	1.24	(0.06)	0.00	0.23	0.00	0.00	2.63	(3.19)	6.27
JPM	0.79	0.24	0.10	(0.60)	0.84	(0.87)	1.78	(1.36)	5.19
MRK	1.16	0.14	0.04	0.63	1.41	(1.15)	2.90	(2.36)	7.79
XOM	0.97	0.19	0.06	(1.67)	1.23	(1.01)	2.14	(2.07)	6.25

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