Direxion Daily Correlations

JNUG Etf

USD 121.13 5.93 5.15%

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.

Direxion Daily Correlation With Market

Good diversification

The correlation between Direxion Daily Junior and DJI is -0.05 (i.e., Good 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 housing.

Moving together with Direxion Etf

0.74	LABU	Direxion Daily SP	Pair Corr
0.99	GDXU	MicroSectors Gold Miners Trending	Pair Corr
0.78	HD	Home Depot	Pair Corr
0.72	TRV	The Travelers Companies	Pair Corr
0.84	HPQ	HP Inc	Pair Corr
0.66	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.65	VZ	Verizon Communications Aggressive Push	Pair Corr

Moving against Direxion Etf

0.39	WTID	UBS ETRACS	Pair Corr
0.31	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.8	0.51	0.58	0.53	0.17	-0.75	0.62	0.38	-0.06	META
MSFT	0.8		0.48	0.58	0.18	0.03	-0.57	0.81	0.4	0.1	MSFT
UBER	0.51	0.48		0.85	0.44	0.49	-0.2	0.68	0.68	0.37	UBER
F	0.58	0.58	0.85		0.52	0.58	-0.41	0.79	0.82	0.5	F
T	0.53	0.18	0.44	0.52		0.6	-0.45	0.41	0.58	0.1	T
A	0.17	0.03	0.49	0.58	0.6		0.02	0.42	0.65	0.53	A
CRM	-0.75	-0.57	-0.2	-0.41	-0.45	0.02		-0.36	-0.33	0.11	CRM
JPM	0.62	0.81	0.68	0.79	0.41	0.42	-0.36		0.65	0.38	JPM
MRK	0.38	0.4	0.68	0.82	0.58	0.65	-0.33	0.65		0.52	MRK
XOM	-0.06	0.1	0.37	0.5	0.1	0.53	0.11	0.38	0.52		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	+ 0.85	UBER
MRK	+ 0.82	F
JPM	+ 0.81	MSFT
MSFT	+ 0.8	META
JPM	+ 0.79	F
JPM	+ 0.68	UBER

High negative correlations

CRM	- 0.75	META
CRM	- 0.57	MSFT
CRM	- 0.45	T
CRM	- 0.41	F
JPM	- 0.36	CRM
MRK	- 0.33	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	1.34	0.11	0.08	0.22	1.20	(1.62)	3.15	(2.27)	14.28
MSFT	0.72	0.06	0.01	0.24	0.76	(0.80)	1.58	(1.47)	5.71
UBER	1.35	0.09	0.04	0.23	1.42	(1.43)	2.72	(2.02)	11.37
F	1.18	0.12	0.09	0.19	1.30	(1.21)	2.55	(2.20)	7.46
T	0.78	0.08	0.00	0.60	0.91	(0.82)	1.86	(1.96)	5.41
A	1.37	0.06	0.07	0.13	1.56	(1.43)	3.24	(2.46)	9.19
CRM	1.30	(0.17)	0.00	(0.07)	0.00	0.00	2.76	(3.19)	8.74
JPM	0.86	0.06	0.05	0.15	1.02	(0.93)	1.78	(1.51)	5.19
MRK	1.19	0.08	0.04	0.18	1.41	(1.19)	2.90	(2.36)	7.79
XOM	1.04	0.08	0.00	0.83	1.42	(1.01)	2.14	(2.58)	6.25

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