Icon Natural Correlations

Mutual Funds . USA . 
Fund . Icon Natural Resources
ICBAX Fund  USD 19.98  0.21  1.06%   
The current 90-days correlation between Icon Natural Resources and Icon Financial Fund is 0.8 (i.e., Very poor diversification). The correlation of Icon Natural is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Icon Natural Correlation With Market

Very poor diversification

The correlation between Icon Natural Resources and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Natural Resources and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Icon Natural Resources. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Icon Mutual Fund

  0.61IOBAX Icon Bond FundPairCorr
  0.87IOEZX Icon Equity IncomePairCorr
  0.93ICFAX Icon FinancialPairCorr
  0.93ICFSX Icon FinancialPairCorr
  0.81ICTEX Icon Information TecPairCorr
  0.87TRNEX T Rowe PricePairCorr
  0.65VMIAX Vanguard Materials IndexPairCorr
  0.87PRNEX T Rowe PricePairCorr
  0.68FMFEX Materials PortfolioPairCorr
  0.68FMFAX Materials PortfolioPairCorr
  0.67FMFCX Materials PortfolioPairCorr
  0.89ASG Liberty All StarPairCorr
  0.84CII Blackrock EnhancedPairCorr
  0.85ETV Eaton Vance TaxPairCorr
  0.79CLM Cornerstone StrategicPairCorr
  0.77CRF Cornerstone StrategicPairCorr
  0.88USA Liberty All StarPairCorr
  0.84ETY Eaton Vance TaxPairCorr
  0.75NFJ Virtus Dividend InterestPairCorr
  0.9VTSMX Vanguard Total StockPairCorr
  0.82DIS Walt Disney Aggressive PushPairCorr
  0.81AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.79CSCO Cisco Systems Aggressive PushPairCorr
  0.92AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.73JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.86CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr

Moving against Icon Mutual Fund

  0.74JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.66MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.66PFE Pfizer Inc Aggressive PushPairCorr
  0.63BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Natural Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Icon Natural's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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