Direxion Monthly Correlations

Mutual Funds . USA . 
Fund . Direxion Monthly Small
DXRLX Fund  USD 90.37  0.76  0.83%   
The current 90-days correlation between Direxion Monthly Small and Mfs Technology Fund is 0.55 (i.e., Very 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

Very poor diversification

The correlation between Direxion Monthly Small and DJI is 0.87 (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 board of governors.

Moving together with Direxion Mutual Fund

  0.93HCYAX Direxion Hilton TacticalPairCorr
  0.93HCYIX Direxion Hilton TacticalPairCorr
  0.92DXHYX Direxion Monthly HighPairCorr
  0.9DXNLX Direxion Monthly NasdaqPairCorr
  0.9DXQLX Direxion Monthly NasdaqPairCorr
  0.94DXSLX Direxion MonthlyPairCorr
  0.89RYVYX Nasdaq 100 2xPairCorr
  0.89RYVLX Nasdaq 100 2xPairCorr
  0.89RYCCX Nasdaq 100 2xPairCorr
  0.89UOPIX Ultra Nasdaq 100PairCorr
  0.89UOPSX Ultranasdaq 100 ProfundPairCorr
  0.9RMQHX Monthly RebalancePairCorr
  0.9RMQAX Monthly RebalancePairCorr
  0.9RMQCX Monthly RebalancePairCorr
  0.89INPSX Internet UltrasectorPairCorr
  0.9PFN Pimco Income StrategyPairCorr
  0.84CIF Mfs Intermediate HighPairCorr
  0.92PCF Putnam High IncomePairCorr
  0.81UTF Cohen And SteersPairCorr
  0.62AVAYX Ab Virginia PortfolioPairCorr
  0.98SFLNX Schwab Fundamental LargePairCorr
  0.92DISVX Dfa International SmallPairCorr
  0.84TSCPX Amg Timessquare SmallPairCorr
  0.92TNBIX 1290 Smartbeta EquityPairCorr
  0.81CIHDX Cullen International HighPairCorr
  0.91EQIRX Wells Fargo EmergingPairCorr
  0.95OAKMX Oakmark Fund InvestorPairCorr
  0.94IRIEX Cf Ir 1000PairCorr
  0.95BPAIX Boston Partners AllPairCorr
  0.97RRTPX T Rowe PricePairCorr
  0.82EMO Clearbridge Energy MlpPairCorr
  0.93VHYLX Valic Company IPairCorr

Moving against Direxion Mutual Fund

  0.44DXKSX Direxion Monthly 7PairCorr
  0.65XNBHX Neuberger Berman IntPairCorr
  0.55XDSMX Dreyfus StrategicPairCorr

Related Correlations Analysis


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.

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