Direxion Daily CSI China Internet Index Bull 2X Shares
Top 10 Holdings
What is CWEB?
The Direxion Daily CSI China Internet Index Bull 2x Shares seeks daily investment results, before fees and expenses, of 200% of the performance of the CSI Overseas China Internet Index. There is no guarantee the fund will meet its stated investment objective. This leveraged ETF seeks a return that is 200% the return of its benchmark index for a single day. The fund should not be expected to provide two times the return of the benchmark s cumulative return for periods greater than a day. The CSI Overseas China Internet Index is provided by China Securities Index Co., LTD ( Index Provider ). The securities included in the Index are primarily listed outside of China, have been listed for at least three months and meet one of the three following criteria: 1) the company is incorporated in mainland China; 2) the operation center for the company is in mainland China; or 3) at least 50% of the revenue from the company is from mainland China. The Index Provider then removes securities that during the past year had a daily average trading value of less than $500,000 or a daily average market cap of less than $500 million.
ETFs related toCWEB
ETFs correlated to CWEB include KWEB, PGJ, MCHI
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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Create your own algorithmic trading strategy with CWEB using Composer
We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.
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.