Correlation
The correlation between CWEB and ^HSI is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
CWEB vs. ^HSI
Compare and contrast key facts about Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) and Hang Seng Index (^HSI).
CWEB is a passively managed fund by Direxion that tracks the performance of the CSI China Overseas Internet Index (200%). It was launched on Nov 2, 2016.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CWEB or ^HSI.
Performance
CWEB vs. ^HSI - Performance Comparison
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Key characteristics
CWEB:
0.01
^HSI:
1.00
CWEB:
0.64
^HSI:
1.00
CWEB:
1.08
^HSI:
1.15
CWEB:
0.01
^HSI:
0.37
CWEB:
0.02
^HSI:
1.86
CWEB:
29.90%
^HSI:
10.01%
CWEB:
83.38%
^HSI:
28.78%
CWEB:
-98.09%
^HSI:
-65.18%
CWEB:
-96.41%
^HSI:
-29.75%
Returns By Period
In the year-to-date period, CWEB achieves a 13.75% return, which is significantly lower than ^HSI's 16.10% return.
CWEB
13.75%
2.48%
7.12%
0.87%
-13.32%
-33.56%
N/A
^HSI
16.10%
5.29%
19.90%
27.75%
2.84%
0.28%
-1.64%
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Risk-Adjusted Performance
CWEB vs. ^HSI — Risk-Adjusted Performance Rank
CWEB
^HSI
CWEB vs. ^HSI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) and Hang Seng Index (^HSI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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Drawdowns
CWEB vs. ^HSI - Drawdown Comparison
The maximum CWEB drawdown since its inception was -98.09%, which is greater than ^HSI's maximum drawdown of -65.18%. Use the drawdown chart below to compare losses from any high point for CWEB and ^HSI.
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Volatility
CWEB vs. ^HSI - Volatility Comparison
Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) has a higher volatility of 18.69% compared to Hang Seng Index (^HSI) at 5.65%. This indicates that CWEB's price experiences larger fluctuations and is considered to be riskier than ^HSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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