Direxion Monthly Correlations

DXKLX Fund

USD 21.50 0.12 0.56%

The current 90-days correlation between Direxion Monthly 7 and Direxion Hilton Tactical is 0.38 (i.e., Weak 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

Significant diversification

The correlation between Direxion Monthly 7 10 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 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 board of governors.

Moving together with Direxion Mutual Fund

0.73	HCYAX	Direxion Hilton Tactical	Pair Corr
0.73	HCYIX	Direxion Hilton Tactical	Pair Corr
0.76	DXHYX	Direxion Monthly High	Pair Corr
0.63	DXNLX	Direxion Monthly Nasdaq	Pair Corr
0.64	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.65	DXSLX	Direxion Monthly	Pair Corr
0.65	RYABX	Government Long Bond	Pair Corr
0.65	RYHBX	Government Long Bond	Pair Corr
0.63	RYCGX	Government Long Bond	Pair Corr
0.74	GVPSX	Us Government Plus	Pair Corr
0.75	GVPIX	Us Government Plus	Pair Corr
0.67	FMURX	Franklin Mutual European	Pair Corr
0.66	HCMKX	Hcm Income Plus	Pair Corr
0.7	KCGIX	Kngt Clb Larg	Pair Corr
0.75	MFAEX	American Funds Mortgage	Pair Corr
0.64	LSVEX	Lsv Value Equity	Pair Corr
0.74	OSTSX	Jpmorgan Short-intermedia	Pair Corr
0.61	CCJTX	American Funds 2055	Pair Corr
0.65	VFINX	Vanguard 500 Index	Pair Corr
0.84	PYCBX	Payden E Bond	Pair Corr
0.64	RNGCX	New Economy Fund	Pair Corr
0.79	GLV	Clough Global Allocation	Pair Corr
0.69	IDXNX	Voya Index Solution	Pair Corr
0.85	MRBFX	Mfs Total Return	Pair Corr

Moving against Direxion Mutual Fund

0.83

DXKSX

Direxion Monthly 7

Pair Corr

Related Correlations Analysis

	HCYAX	HCYIX	DXHYX	DXKSX	DXKLX	DXNLX	DXQLX	DXRLX	DXSLX
HCYAX		1.0	0.96	-0.58	0.73	0.96	0.97	0.9	0.99	HCYAX
HCYIX	1.0		0.97	-0.58	0.73	0.96	0.97	0.9	0.99	HCYIX
DXHYX	0.96	0.97		-0.68	0.76	0.94	0.93	0.92	0.95	DXHYX
DXKSX	-0.58	-0.58	-0.68		-0.83	-0.49	-0.51	-0.44	-0.52	DXKSX
DXKLX	0.73	0.73	0.76	-0.83		0.63	0.64	0.56	0.65	DXKLX
DXNLX	0.96	0.96	0.94	-0.49	0.63		0.97	0.9	0.97	DXNLX
DXQLX	0.97	0.97	0.93	-0.51	0.64	0.97		0.86	0.99	DXQLX
DXRLX	0.9	0.9	0.92	-0.44	0.56	0.9	0.86		0.91	DXRLX
DXSLX	0.99	0.99	0.95	-0.52	0.65	0.97	0.99	0.91		DXSLX
	HCYAX	HCYIX	DXHYX	DXKSX	DXKLX	DXNLX	DXQLX	DXRLX	DXSLX

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
DXSLX	+ 0.99	HCYAX
DXSLX	+ 0.99	HCYIX
DXSLX	+ 0.99	DXQLX
DXQLX	+ 0.97	HCYAX
DXHYX	+ 0.97	HCYIX

High negative correlations

DXKLX	- 0.83	DXKSX
DXKSX	- 0.68	DXHYX
DXKSX	- 0.58	HCYIX
DXKSX	- 0.58	HCYAX
DXSLX	- 0.52	DXKSX
DXQLX	- 0.51	DXKSX

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	0.22	0.01	(0.19)	0.13	0.09	(0.25)	0.50	(0.39)	1.09
HCYIX	0.21	0.01	(0.18)	0.13	0.00	(0.25)	0.50	(0.39)	1.04
DXHYX	0.18	0.04	(0.27)	(1.83)	0.00	(0.21)	0.35	(0.29)	1.03
DXKSX	0.48	(0.05)	0.00	0.96	0.00	0.00	0.72	(0.92)	3.46
DXKLX	0.48	0.03	(0.12)	0.47	0.45	(0.54)	0.94	(0.70)	2.68
DXNLX	0.72	0.19	0.07	(0.61)	0.76	(0.77)	1.75	(1.50)	4.37
DXQLX	1.02	0.07	0.08	0.15	1.13	(1.09)	2.43	(2.10)	6.08
DXRLX	1.50	0.37	0.15	(1.64)	1.42	(1.76)	3.36	(2.63)	8.29
DXSLX	0.82	0.06	0.10	0.14	0.71	(0.96)	1.89	(1.33)	4.73

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