Icon Financial Correlations

ICFSX Fund

USD 9.13 0.03 0.33%

The current 90-days correlation between Icon Financial and Easterly Snow Longshort is 0.28 (i.e., Modest diversification). The correlation of Icon Financial 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 Financial Correlation With Market

Poor diversification

The correlation between Icon Financial Fund and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Financial Fund 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 Financial Fund. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Icon Mutual Fund

0.82	VFAIX	Vanguard Financials Index	Pair Corr
0.88	FRBCX	Regional Bank	Pair Corr
0.89	JRGRX	Regional Bank	Pair Corr
0.89	PRISX	T Rowe Price	Pair Corr
0.79	DVFYX	Davis Financial	Pair Corr
0.91	RPFGX	Davis Financial	Pair Corr
0.91	DFFCX	Davis Financial	Pair Corr
0.84	FSLBX	Brokerage And Investment	Pair Corr
0.84	FIDSX	Financial Services	Pair Corr
0.64	MRK	Merck Company Earnings Call This Week	Pair Corr
0.79	WMT	Walmart Common Stock	Pair Corr
0.68	BA	Boeing	Pair Corr
0.73	AA	Alcoa Corp	Pair Corr

Moving against Icon Mutual Fund

0.57	FIDCX	Financial Industries	Pair Corr
0.38	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	SUSAX	SIGZX	TAAQX	QNZIX	FUEMX	ATOAX	SNORX
SUSAX		0.97	0.99	0.81	0.97	0.95	0.89	SUSAX
SIGZX	0.97		0.96	0.84	0.97	0.97	0.88	SIGZX
TAAQX	0.99	0.96		0.81	0.97	0.95	0.88	TAAQX
QNZIX	0.81	0.84	0.81		0.88	0.9	0.75	QNZIX
FUEMX	0.97	0.97	0.97	0.88		0.98	0.88	FUEMX
ATOAX	0.95	0.97	0.95	0.9	0.98		0.84	ATOAX
SNORX	0.89	0.88	0.88	0.75	0.88	0.84		SNORX
	SUSAX	SIGZX	TAAQX	QNZIX	FUEMX	ATOAX	SNORX

Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Financial 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 Financial'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SUSAX	0.04	0.01	0.00	(2.72)	0.00	0.00	0.10	(0.10)	0.51
SIGZX	0.05	0.00	0.00	0.00	0.00	0.00	0.10	(0.10)	0.61
TAAQX	0.06	0.00	(0.56)	0.48	0.00	(0.15)	0.20	(0.10)	0.51
QNZIX	0.61	0.14	0.15	0.30	0.52	(0.67)	1.31	(1.08)	3.28
FUEMX	0.03	0.00	0.00	0.51	0.00	0.00	0.10	0.00	0.40
ATOAX	0.03	0.00	0.00	(0.32)	0.00	0.00	0.20	0.00	0.30
SNORX	0.71	0.19	0.24	0.36	0.30	(0.84)	1.78	(1.05)	6.59

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