Direxion Shares ETF Trust Direxion Daily TSLA Bear 1X Shares
Top 10 Holdings
What is TSLS?
The Direxion Daily TSLA Bear 1X Shares (TSLS) seeks daily inverse investment results and is very different from most other exchange-traded funds. The pursuit of daily inverse investment goals means that the return of the fund for a period longer than a full trading day may have no resemblance to -100% of the return of the common shares of Tesla, Inc. (NASDAQ: TSLA) This means that the return of the fund for a period longer than a trading day will be the result of each single day's compounded return over the period, which will very likely differ from -100% of the return of TSLA for that period. Longer holding periods and higher volatility of TSLA increase the impact of compounding on an investor's returns. During periods of higher volatility, the volatility of TSLA may affect the fund's return as much as, or more than, the return of TSLA. Further, the return for investors that invest for periods longer or shorter than a trading day should not be expected to be -100% of the performance of TSLA for the period.
ETFs related toTSLS
ETFs correlated to TSLS include TSLQ, SARK, FNGD
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.
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.