Direxion Daily Variance
| MEXX Etf | | | USD 25.45 -0.93 -3.53% |
This technical indicator view for Variance organizes signals for Direxion Daily MSCI and comparable instruments. Coverage varies by data normalization and availability; see
Equity Screeners for broader screening context.
Correlation Analysis provides context for diversified portfolio construction. Refined allocation visibility enhances overall portfolio context. This reflects a position in Direxion Daily MSCI inside the allocation mix. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as
signals in unemployment.
Direxion Daily MSCI has current Variance of 24.47. Variance is another measure of security risk that shows the amount of dispersion of equity returns around their mean value. Variance is calculated as the average squared deviations from the mean. Evaluating a set of investment alternatives one can use variance to help determine the volatility when purchasing a specific security. Similar to Standard Deviation, the variance is a measure of how far a set of numbers is spread out around its mean.
Variance | = | SUM(RET DEV)2N |
| = | 24.47 | |
| SUM | = | Summation notation |
| RET DEV | = | Actual returns deviation over selected period |
| N | = | Number of points for the period |
Direxion Daily Variance Peers Comparison
Direxion Variance Relative To Other Indicators
Direxion Daily MSCI is rated
second in variance compared to similar ETFs. It is currently under evaluation in maximum drawdown compared to similar ETFs reporting about
1.16 of Maximum Drawdown per Variance. At
1.16 , Direxion Daily MSCI's Maximum Drawdown-to-Variance multiple reflects the spread between these metrics
Variance is also a measure of stock volatility and can help determine the risk an investor might take on when purchasing a specific security. A relatively big variance indicates that the daily prices or returns are far from the mean and a small variance indicates that they are located around the mean.
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