Direxion Shares Correlations

TSLS Etf

USD 6.95 0.25 3.47%

The current 90-days correlation between Direxion Shares ETF and Direxion Shares ETF is -1.0 (i.e., Pay attention - limited upside). The correlation of Direxion Shares 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 Shares Correlation With Market

Very good diversification

The correlation between Direxion Shares ETF and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Shares ETF and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Direxion Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Direxion Shares ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving against Direxion Etf

0.67	RXI	iShares Global Consumer	Pair Corr
0.64	NUGT	Direxion Daily Gold	Pair Corr
0.62	BKUI	BNY Mellon ETF	Pair Corr
0.61	GSJY	Goldman Sachs ActiveBeta	Pair Corr
0.6	BULZ	MicroSectors Solactive	Pair Corr
0.6	FALN	iShares Fallen Angels	Pair Corr
0.57	IJT	iShares SP Small	Pair Corr
0.56	ESGV	Vanguard ESG Stock	Pair Corr
0.55	JNUG	Direxion Daily Junior	Pair Corr
0.55	WTV	WisdomTree Trust	Pair Corr
0.55	SPYV	SPDR Portfolio SP	Pair Corr
0.53	LRGF	iShares Equity Factor	Pair Corr
0.49	USD	ProShares Ultra Semi	Pair Corr
0.47	FNGG	Direxion Daily Select	Pair Corr
0.46	FNGO	MicroSectors FANG Index	Pair Corr
0.44	DFEN	Direxion Daily Aerospace	Pair Corr
0.33	NRGU	Bank of Montreal	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

Please upgrade your account to get full access to Macroaxis premium features

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 Shares Competition Risk-Adjusted Indicators

There is a big difference between Direxion Etf performing well and Direxion Shares 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 Shares' 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

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC