Direxion Daily Pharmaceutical Etf Market Value

PILL Etf  USD 8.22  0.08  0.98%   
Direxion Daily's market value is the price at which a share of Direxion Daily trades on a public exchange. It measures the collective expectations of Direxion Daily Pharmaceutical investors about its performance. Direxion Daily is selling for 8.22 as of the 29th of March 2024. This is a 0.98 percent increase since the beginning of the trading day. The etf's lowest day price was 8.12.
With this module, you can estimate the performance of a buy and hold strategy of Direxion Daily Pharmaceutical and determine expected loss or profit from investing in Direxion Daily over a given investment horizon. Check out Direxion Daily Correlation, Direxion Daily Volatility and Direxion Daily Alpha and Beta module to complement your research on Direxion Daily.
Symbol

The market value of Direxion Daily Pharm 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 if Direxion Daily is a good investment 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.

Direxion Daily 'What if' Analysis

In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Direxion Daily's etf what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Direxion Daily.
0.00
04/09/2022
No Change 0.00  0.0 
In 1 year 11 months and 21 days
03/29/2024
0.00
If you would invest  0.00  in Direxion Daily on April 9, 2022 and sell it all today you would earn a total of 0.00 from holding Direxion Daily Pharmaceutical or generate 0.0% return on investment in Direxion Daily over 720 days. Direxion Daily is related to or competes with ProShares Ultra, Direxion Daily, ProShares Ultra, MicroSectors, ProShares UltraPro, Direxion Daily, and Direxion Daily. The fund invests at least 80 percent of its net assets in financial instruments, such as swap agreements, securities of ... More

Direxion Daily Upside/Downside Indicators

Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Direxion Daily's etf current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Direxion Daily Pharmaceutical upside and downside potential and time the market with a certain degree of confidence.

Direxion Daily Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Direxion Daily's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Direxion Daily's standard deviation. In reality, there are many statistical measures that can use Direxion Daily historical prices to predict the future Direxion Daily's volatility.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Direxion Daily's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Hype
Prediction
LowEstimatedHigh
5.058.2211.39
Details
Intrinsic
Valuation
LowRealHigh
5.148.3111.48
Details
Naive
Forecast
LowNextHigh
5.798.9612.13
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
7.228.409.57
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Direxion Daily. Your research has to be compared to or analyzed against Direxion Daily's peers to derive any actionable benefits. When done correctly, Direxion Daily's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Direxion Daily Pharm.

Direxion Daily Pharm Backtested Returns

We consider Direxion Daily somewhat reliable. Direxion Daily Pharm secures Sharpe Ratio (or Efficiency) of 0.0466, which denotes the etf had a 0.0466% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Direxion Daily Pharmaceutical, which you can use to evaluate the volatility of the entity. Please confirm Direxion Daily's Mean Deviation of 2.43, coefficient of variation of 1449.47, and Downside Deviation of 3.18 to check if the risk estimate we provide is consistent with the expected return of 0.15%. The etf shows a Beta (market volatility) of 3.96, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Direxion Daily will likely underperform.

Auto-correlation

    
  0.28  

Poor predictability

Direxion Daily Pharmaceutical has poor predictability. Overlapping area represents the amount of predictability between Direxion Daily time series from 9th of April 2022 to 4th of April 2023 and 4th of April 2023 to 29th of March 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Direxion Daily Pharm price movement. The serial correlation of 0.28 indicates that nearly 28.0% of current Direxion Daily price fluctuation can be explain by its past prices.
Correlation Coefficient0.28
Spearman Rank Test0.17
Residual Average0.0
Price Variance1.66

Direxion Daily Pharm lagged returns against current returns

Autocorrelation, which is Direxion Daily etf's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Direxion Daily's etf expected returns. We can calculate the autocorrelation of Direxion Daily returns to help us make a trade decision. For example, suppose you find that Direxion Daily has exhibited high autocorrelation historically, and you observe that the etf is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
   Current and Lagged Values   
       Timeline  

Direxion Daily regressed lagged prices vs. current prices

Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Direxion Daily etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Direxion Daily etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Direxion Daily etf over time.
   Current vs Lagged Prices   
       Timeline  

Direxion Daily Lagged Returns

When evaluating Direxion Daily's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Direxion Daily etf have on its future price. Direxion Daily autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Direxion Daily autocorrelation shows the relationship between Direxion Daily etf current value and its past values and can show if there is a momentum factor associated with investing in Direxion Daily Pharmaceutical.
   Regressed Prices   
       Timeline  

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When determining whether Direxion Daily Pharm is a strong investment it is important to analyze Direxion Daily's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Direxion Daily's future performance. For an informed investment choice regarding Direxion Etf, refer to the following important reports:
Check out Direxion Daily Correlation, Direxion Daily Volatility and Direxion Daily Alpha and Beta module to complement your research on Direxion Daily.
You can also try the Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.

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When running Direxion Daily's 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 the 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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Direxion Daily technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.
A focus of Direxion Daily technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Direxion Daily trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...