Market Research Data

ERY Correlation & Overlap

Fund Strategy Analysis

Direxion Daily Energy Bear 2X Shares (ERY) is a key instrument in the Inverse Energy category. Data regarding ERY is frequently analyzed by investors planning tax loss harvesting strategies, specifically those seeking to maintain Inverse Energy exposure while navigating IRS wash sale regulations.

Note: This page summarizes historical similarity metrics and does not assess tax treatment or regulatory outcomes.

Top Correlated ETFs

Inverse Energy

DUG

CORR ≥ 0.95*

98.0%

Correlation

DUG shows a high degree of historical similarity with ERY. With an estimated overlap of <10%, this pair is often analyzed in discussions regarding "substantially identical" securities.

Overlap: < 10%

Yahoo Finance ↗DUG Data Coming Soon

ERX

INVERSE

-99.0%

Inverse Correlation

A holdings overlap of roughly <10% suggests that ERX and ERY maintain aligned market exposure. This metric is frequently used to assess the potential for maintaining economic position while realizing a tax loss.

Overlap: < 10%

Yahoo Finance ↗View ERX Analysis →

Note on Overlap: Estimates are based on the most recent publicly disclosed holdings. Leveraged/Inverse products often use swaps resulting in low physical overlap despite high correlation.

Leveraged/Inverse Note: Leveraged ETFs are designed to deliver multiples of daily returns and may experience significant performance divergence over longer periods.

* Correlation calculated using 2-year daily price returns.

Wash Sale Re-Entry Date (Reference Tool)

If you sold ERY at a loss, U.S. wash sale rules generally restrict repurchasing the same or a substantially identical security within 30 days.

Sale Date

*For informational purposes only. Consult a tax professional regarding IRC §1091. This tool calculates the 31st day following a sale.

Thinking of selling ERY?Beta

Avoid the "Cash Trap". Calculate if the tax deduction is worth the risk of missing a market rebound.

Run the Math→

Related ETF Research

VOO Metrics IVV Metrics SPY Metrics QQQ Metrics VTI Metrics

What is Correlation?

Correlation measures the historical relationship between two assets. A value of 1.00 (100%) means they move perfectly in sync. For tax loss harvesting, high correlation is generally desired to stay in the market while realizing a loss.

Index Methodology

Under the wash sale rule, "substantially identical" assets are disallowed for loss claims. Many investors argue that ETFs tracking different indices (e.g., S&P 500 vs. Russell 1000) are not substantially identical.

New Tool

Is a 4% Tax-Free Bond Better than a 7% CD?

Don't guess. Compare municipal bonds against taxable alternatives using your exact 2026 federal and state tax bracket.

Check My Tax-Equivalent Yield →