Snapshot*
Top 10 Holdings
What is FAZ?
The Direxion Daily Financial Bull (FAZ) 3X Shares seek daily investment results, before fees and expenses, of 300%, or 300% of the inverse (or opposite), of the performance of the of the performance of the Financial Select Sector TR Index (IXMTR). The Financial Select Sector TR Index (IXMTR) is provided by S&P Dow Jones Indices and includes securities of companies from the following industries: Banks; Thrifts & Mortgage Finance; Diversified Financial Services; Consumer Finance; Capital Markets; Insurance; and Mortgage Real Estate Investment Trusts (REITs).
ETFs related toFAZ
ETFs correlated to FAZ include BNKD, DOG, SDOW
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.
Automated Strategies
Related toFAZ
SPY minimum drawdown
Create your own algorithmic trading strategy with FAZ using Composer
News Related to FAZ
Conflicting Theories Add Spice To Direxion's 3X Daily Financial Bull And Bear Funds
Apr 21, 2025 • by JE Insights
EXCLUSIVE: Beyond The Magnificent Seven — Direxion's Egilinsky Reveals Top Sector Picks
Aug 30, 2024 • by Surbhi Jain
As Fed Potentially Preps Lower Rates Amid Economic Challenges, Direxion Bull & Bear 3X Shares Offer Amplified Trading Opportunities
Aug 21, 2024 • by Benzinga Newsdesk
Looking To Play Berkshire, JP Morgan, Bank Of America To The Downside? This ETF Offers 3X Leverage
Mar 13, 2023 • by Melanie Schaffer
FAQ
Disclaimers
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.