There is some odd correlation between housing and banking. Or better between the FAZ and the SRS ETF.
FAZ is the Direxion financial Bear 3x Triple-Leveraged ETF designed to yield investment results approximately equivalent to 300% the inverse of the return of an investment in the Russell 1000 Financials Index, which tracks financial related securities in the Russell 1000 Index.
The SRS ETF is the Ultashort Real Estate ETF.
These two seems good buddies, most of the time. And they are loved by day traders and hedgies
But not now as the FAZ was down yesterday while the SRS with a gain of 3 was pointing the direction of housing stocks.
FAZ is the Direxion financial Bear 3x Triple-Leveraged ETF designed to yield investment results approximately equivalent to 300% the inverse of the return of an investment in the Russell 1000 Financials Index, which tracks financial related securities in the Russell 1000 Index.
The SRS ETF is the Ultashort Real Estate ETF.
These two seems good buddies, most of the time. And they are loved by day traders and hedgies
But not now as the FAZ was down yesterday while the SRS with a gain of 3 was pointing the direction of housing stocks.
Hat off to Tim
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