Direxion Shares ETF Trust Direxion Daily TSM Bull 2X ETF (TSMX) — Stock Correlations & Overview
Over the past year, TSMX has moved most closely with TSM, TSMU, TSMG. Explore the stocks most correlated and inversely correlated with TSMX below, along with its price, financials, and company profile.
Stocks correlated with TSMX
Correlation of daily returns. Higher positive values move with TSMX; negative values move opposite it. Informational only, not investment advice.
Most correlated with TSMX
| Symbol | Company | Correlation |
|---|---|---|
| TSM | Taiwan Semiconductor Manufacturing Company Ltd. | 1.00 |
| TSMU | GraniteShares 2x Long TSM Daily ETF | 1.00 |
| TSMG | Leverage Shares 2X Long TSM Daily ETF | 0.99 |
| TSMY | YieldMax TSM Option Income Strategy ETF | 0.95 |
| JHAI | Janus Henderson Global Artificial Intelligence ETF | 0.86 |
Most inversely correlated with TSMX
| Symbol | Company | Correlation |
|---|---|---|
| TSMZ | Direxion Shares ETF Trust Direxion Daily TSM Bear 1X ETF | -0.99 |
| TSXD | Direxion Daily Semiconductors Top 5 Bear 2X ETF | -0.84 |
| SOXS | Direxion Daily Semiconductor Bear 3X ETF | -0.79 |
| SSG | ProShares UltraShort Semiconductors | -0.79 |
| EDZ | Direxion Daily MSCI Emerging Markets Bear 3X ETF | -0.79 |
Frequently asked questions about TSMX correlations
- Which stocks are most correlated with TSMX?
- Based on one year of daily returns, the stocks most correlated with Direxion Shares ETF Trust Direxion Daily TSM Bull 2X ETF (TSMX) are TSM (1.00), TSMU (1.00) and TSMG (0.99). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with TSMX?
- Over the past year, the stocks most inversely correlated with Direxion Shares ETF Trust Direxion Daily TSM Bull 2X ETF (TSMX) are TSMZ (-0.99), TSXD (-0.84) and SOXS (-0.79). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these TSMX correlations calculated?
- We compute the correlation of daily returns between TSMX and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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