Direxion Etf Profile

FNGG
 Etf
  

USD 3.57  0.26  6.79%   

Market Performance
0 of 100
Odds Of Distress
Over 65
Direxion Daily is trading at 3.57 as of the 6th of December 2022, a -6.79 percent decrease since the beginning of the trading day. The etf's lowest day price was 3.51. Direxion Daily has more than 65 % chance of experiencing financial distress in the next few years of operation. It also generated negative returns for investors over the last 90 days. Equity ratings for Direxion Daily Select are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 16th of March 2021 and ending today, the 6th of December 2022. Click here to learn more.
The index is an equal-weighted index designed to include Facebook, Apple, Amazon, Netflix and Google and similar highly-traded growth stocks of technology and tech-enabled companies from the IT, communication services and consumer discretionary sectors. More on Direxion Daily Select

Moving together with Direxion Daily

+0.82LABUDirexion Daily SP Aggressive PushPairCorr

Direxion Daily Etf Highlights

Most reasonable investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend. Direxion Daily's investment highlights are automatically generated signals that are significant enough to either complement your investing judgment regarding Direxion Daily or challenge it. These highlights can help you better understand the position you are entering and avoid costly mistakes.
Direxion Daily generated a negative expected return over the last 90 days
Direxion Daily has high historical volatility and very poor performance
Direxion Daily has high likelihood to experience some financial distress in the next 2 years
Macroaxis Advice
Unlike general analyst consensus, Macroaxis buy hold or sell recommendation is provided in the context of your current investment horizon and risk tolerance. The advice algorithm takes into account all of Direxion Daily's available fundamental, technical, and predictive indicators. Your current horizon is 90 days - details
Strong SellFairly Valued
IssuerDirexion
Inception Date2021-09-30
BenchmarkICE FANG 20 Index
Entity TypeRegulated Investment Company
Asset Under Management12.72 Million
Asset TypeEquity
CategoryStrategy
FocusTheme
Market ConcentrationDeveloped Markets
RegionNorth America
AdministratorU.S. Bancorp Fund Services, LLC
AdvisorRafferty Asset Management, LLC
CustodianThe Bank of New York Mellon Corporation
DistributorForeside Fund Services, LLC
Portfolio ManagerPaul Brigandi, Tony Ng
Transfer AgentThe Bank of New York Mellon Corporation
Fiscal Year End31-Oct
ExchangeNYSE Arca, Inc.
Number of Constituents29.0
Market MakerSusquehanna
Total Expense3.73
Management Fee0.75
Nav Price4.34
Two Hundred Day Average6.789
Ytd-80.74%
Average Daily Volume In Three Month109.27k
Fifty Two Week Low3.2
As Of Date25th of October 2022
Average Daily Volume Last 10 Day76.74k
Fifty Two Week High28.634
One Month1.67%
Fifty Day Average4.1489
Three Month-14.97%
Direxion Daily Select [FNGG] is traded in USA and was established 2021-09-29. The fund is listed under Trading--Leveraged Equity category and is part of Direxion Funds family. Direxion Daily Select currently have 11.81 M in assets under management (AUM). , while the total return for the last year was -83.75%.
Check Direxion Daily Probability Of Bankruptcy

Sector Allocation (%)

Investors will always prefer to have their portfolios divercified against different sectors. The broad sector allocation increases the possibility of making a profit or at least avoiding a loss. However, this may also reduce the expected return on Direxion Etf. Generally, it depends on diversification level and type but usually, the broader the sector allocation, the less risk can be expected from holding Direxion Etf, and the less return is expected.
Institutional investors that are interested in enforcing a sector tilt in their portfolio can use exchange-traded funds, such as Direxion Daily Select Etf, as a low-cost alternative to building a custom portfolio. So, using sector ETFs to diversify your portfolio can be a profitable strategy. However, no matter what sectors are desirable at a given time, no single industry should ever make up more than 20 percent of your stock portfolio.

Direxion Daily Target Price Odds Analysis

What are Direxion Daily's target price odds to finish over the current price? Based on a normal probability distribution, the odds of Direxion Daily jumping above the current price in 90 days from now is about 89.79%. The Direxion Daily Select probability density function shows the probability of Direxion Daily etf to fall within a particular range of prices over 90 days. Given the investment horizon of 90 days the etf has a beta coefficient of 3.1617. This usually indicates as the benchmark fluctuates upward, the company is expected to outperform it on average. However, if the benchmark returns are projected to be negative, Direxion Daily will likely underperform. Additionally, the company has a negative alpha, implying that the risk taken by holding this instrument is not justified. Direxion Daily Select is significantly underperforming NYSE Composite.
  Odds Below 3.57HorizonTargetOdds Above 3.57
10.16%90 days
 3.57 
89.79%
Based on a normal probability distribution, the odds of Direxion Daily to move above the current price in 90 days from now is about 89.79 (This Direxion Daily Select probability density function shows the probability of Direxion Etf to fall within a particular range of prices over 90 days) .

Direxion Daily Select Risk Profiles

Investors will always prefer to have the highest possible return on investment while minimizing volatility. Direxion Daily market risk premium is the additional return an investor will receive from holding Direxion Daily long position in a well-diversified portfolio. The market premium is part of the Capital Asset Pricing Model (CAPM), which most analysts and investors use to calculate the acceptable rate of return on investment in Direxion Daily. At the center of the CAPM is the concept of risk and reward, which is usually communicated by investors using alpha and beta measures. Although Direxion Daily's alpha and beta are two of the key measurements used to evaluate Direxion Daily's performance over the market, the standard measures of volatility play an important role as well.

Direxion Daily Against Markets

Picking the right benchmark for Direxion Daily etf is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in Direxion Daily etf price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for Direxion Daily is critical whether you are bullish or bearish towards Direxion Daily Select at a given time.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Direxion Daily without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Invested in Direxion Daily Select?

The danger of trading Direxion Daily Select is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Direxion Daily is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Direxion Daily. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Direxion Daily Select is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Please check Investing Opportunities. Note that the Direxion Daily Select information on this page should be used as a complementary analysis to other Direxion Daily's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.

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When running Direxion Daily Select price analysis, check to measure Direxion Daily's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Direxion Daily is operating at the current time. Most of Direxion Daily's value examination focuses on studying past and present price action to predict the probability of Direxion Daily's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Direxion Daily's price. Additionally, you may evaluate how the addition of Direxion Daily to your portfolios can decrease your overall portfolio volatility.
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The market value of Direxion Daily Select is measured differently than its book value, which is the value of Direxion that is recorded on the company's balance sheet. Investors also form their own opinion of Direxion Daily's value that differs from its market value or its book value, called intrinsic value, which is Direxion Daily's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Direxion Daily's market value can be influenced by many factors that don't directly affect Direxion Daily's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Direxion Daily's value and its price as these two are different measures arrived at by different means. Investors typically determine Direxion Daily value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Direxion Daily's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.