Direxion Daily Cloud Computing Bull 2X Shares
Top 10 Holdings
What is CLDL?
The Direxion Daily Cloud Computing Bull (CLDL) 2X Shares seek daily investment results, before fees and expenses, of 200% of the performance of the Indxx USA Cloud Computing Index. There is no guarantee the funds will meet their stated investment objective. The Indxx USA Cloud Computing Index (IUCLOUN) is provided by Indxx, LLC. and includes domestic companies that deliver cloud computing infrastructure, platforms, or services. The companies included in the Index are involved in the delivery of computing services servers, storage, databases, networking, software, analytics, and more, over the internet, which is often referred to as the Cloud. The Index Provider has defined cloud computing to include three themes: Infrastructure as a service; Platform as a service; and Software as a service. One cannot invest directly in an Index.
ETFs related toCLDL
ETFs correlated to CLDL include SKYY, IGV, CLOU
What is ETF correlation?
Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.
Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.
Using ETF correlations in portfolio and strategy construction
ETF correlations can help you create investing strategies and portfolios. Use them to:
- •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
- •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
- •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.
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We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.