Icon Financial Correlations

Mutual Funds . USA . 
Fund . Icon Financial Fund
ICFSX Fund  USD 9.37  0.15  1.63%   
The current 90-days correlation between Icon Financial and Alger Health Sciences is 0.06 (i.e., Significant 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

Very weak diversification

The correlation between Icon Financial Fund and DJI is 0.4 (i.e., Very weak 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 signals in real.

Moving together with Icon Mutual Fund

  0.87IOBAX Icon Bond FundPairCorr
  0.85IOBZX Icon Bond FundPairCorr
  0.93IOEZX Icon Equity IncomePairCorr
  0.99IOLZX Icon LongshortPairCorr
  0.99ISTAX Icon LongshortPairCorr
  0.96ICBAX Icon Natural ResourcesPairCorr
  0.96ICBMX Icon Natural ResourcesPairCorr
  1.0ICFAX Icon FinancialPairCorr
  0.97ICTEX Icon Information TecPairCorr
  0.97ICTTX Icon Information TecPairCorr
  0.93IEQAX Icon Equity IncomePairCorr
  0.88VFAIX Vanguard Financials IndexPairCorr
  0.91FRBCX Regional BankPairCorr
  0.92JRGRX Regional BankPairCorr
  0.88PRISX T Rowe PricePairCorr
  0.61FSLBX Brokerage And InvestmentPairCorr
  0.92DVFYX Davis FinancialPairCorr
  0.92RPFGX Davis FinancialPairCorr
  0.91DFFCX Davis FinancialPairCorr
  0.92FIDSX Financial ServicesPairCorr
  0.72GAAKX Gmo Alternative AlloPairCorr
  0.69GAAGX Gmo Alternative AlloPairCorr
  0.62GPMFX Guidepath Managed FuturesPairCorr
  0.81PQTAX Pimco Trends ManagedPairCorr
  0.81PQTNX Pimco Trends ManagedPairCorr
  0.81PQTIX Aa Pimco TrPairCorr
  0.84CLDZX Columbia Limited DurationPairCorr
  0.78UEPSX Europe 30 ProfundPairCorr
  0.73SHMDX Stone Harbor EmergingPairCorr
  0.73AMIPX Amana ParticipationPairCorr
  0.84IVFIX Federated InternationalPairCorr
  0.83FOPAX Fidelity InternationalPairCorr
  0.86MBAAX Global StrategistPairCorr

Moving against Icon Mutual Fund

  0.69ICTVX Icon UtilitiesPairCorr
  0.69ICTUX Icon Utilities AndPairCorr
  0.44FIDCX Financial IndustriesPairCorr

Related Correlations Analysis


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.

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