SSRM vs. DFEN
SSRM (SSR Mining Inc.) is a stock, while DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) is Leveraged Equities fund tracking the Dow Jones U.S. Select Aerospace & Defense Index (300%). Over the past 5 years, SSRM returned 9.84%/yr vs 29.22%/yr for DFEN. At a 0.13 correlation, their price movements are largely independent.
Performance
SSRM vs. DFEN - Performance Comparison
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Returns By Period
In the year-to-date period, SSRM achieves a 24.22% return, which is significantly higher than DFEN's 13.12% return.
SSRM
- 1D
- 3.46%
- 1M
- -21.64%
- YTD
- 24.22%
- 6M
- 22.60%
- 1Y
- 119.07%
- 3Y*
- 25.15%
- 5Y*
- 9.84%
- 10Y*
- 9.58%
DFEN
- 1D
- -2.71%
- 1M
- 7.74%
- YTD
- 13.12%
- 6M
- 20.44%
- 1Y
- 76.99%
- 3Y*
- 64.38%
- 5Y*
- 29.22%
- 10Y*
- —
SSRM vs. DFEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSRM SSR Mining Inc. | 24.22% | 214.94% | -35.32% | -29.94% | -10.02% | -10.90% | 4.41% | 59.31% | 37.54% | -12.45% |
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 13.12% | 156.62% | 27.07% | 24.70% | 6.99% | 12.72% | -70.23% | 95.09% | -32.86% | 83.64% |
Correlation
The correlation between SSRM and DFEN is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since May 3, 2017 | 0.13 |
The correlation between SSRM and DFEN shifts across timeframes, from 0.13 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SSRM vs. DFEN — Risk / Return Rank
SSRM
DFEN
SSRM vs. DFEN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SSR Mining Inc. (SSRM) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SSRM | DFEN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.22 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.83 | 1.85 | +1.97 |
| Martin ratioReturn relative to average drawdown | 9.89 | 4.29 | +5.59 |
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Drawdowns
SSRM vs. DFEN - Drawdown Comparison
The maximum SSRM drawdown since its inception was -91.68%, roughly equal to the maximum DFEN drawdown of -91.36%. Use the drawdown chart below to compare losses from any high point for SSRM and DFEN.
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Drawdown Indicators
| SSRM | DFEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.68% | -91.36% | -0.32% |
Max Drawdown (1Y)Largest decline over 1 year | -31.28% | -41.75% | +10.47% |
Max Drawdown (3Y)Largest decline over 3 years | -73.41% | -43.13% | -30.28% |
Max Drawdown (5Y)Largest decline over 5 years | -83.16% | -55.30% | -27.86% |
Max Drawdown (10Y)Largest decline over 10 years | -83.16% | — | — |
Current DrawdownCurrent decline from peak | -37.45% | -25.87% | -11.58% |
Average DrawdownAverage peak-to-trough decline | -57.15% | -45.20% | -11.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.09% | 17.99% | -5.90% |
Volatility
SSRM vs. DFEN - Volatility Comparison
The current volatility for SSR Mining Inc. (SSRM) is 19.31%, while Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a volatility of 27.31%. This indicates that SSRM experiences smaller price fluctuations and is considered to be less risky than DFEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSRM | DFEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.31% | 27.31% | -8.00% |
Volatility (6M)Calculated over the trailing 6-month period | 54.27% | 55.81% | -1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.63% | 65.81% | +0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.93% | 60.74% | -4.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.96% | 71.66% | -18.70% |
Dividends
SSRM vs. DFEN - Dividend Comparison
SSRM has not paid dividends to shareholders, while DFEN's dividend yield for the trailing twelve months is around 7.89%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 7.89% | 8.89% | 14.12% | 1.13% | 0.46% | 1.89% | 0.48% | 0.50% | 1.07% | 1.50% |
SSRM SSR Mining Inc. | 0.00% | 0.00% | 0.00% | 2.60% | 1.79% | 1.13% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SSRM and DFEN have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFEN has higher volatility (27.31%) compared to SSRM (19.31%). In terms of maximum drawdown, SSRM dropped -91.68% vs DFEN's -91.36%.
SSRM currently has the higher Sharpe Ratio (1.80 vs 1.18), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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