Icon Financial Correlations

ICFSX Fund

USD 11.37 0.16 1.43%

The current 90-days correlation between Icon Financial and Dreyfus Natural Resources is -0.06 (i.e., Good 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 poor diversification

The correlation between Icon Financial Fund and DJI is 0.84 (i.e., Very 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 signals in state.

Moving together with Icon Mutual Fund

0.62	IOBAX	Icon Bond Fund	Pair Corr
0.63	IOBZX	Icon Bond Fund	Pair Corr
0.84	IOEZX	Icon Equity Income	Pair Corr
0.93	IOLZX	Icon Long/short	Pair Corr
0.93	ISTAX	Icon Long/short	Pair Corr
0.93	ICBAX	Icon Natural Resources	Pair Corr
0.93	ICBMX	Icon Natural Resources	Pair Corr
1.0	ICFAX	Icon Financial	Pair Corr
0.77	ICTEX	Icon Information Tec	Pair Corr
0.77	ICTTX	Icon Information Tec	Pair Corr
0.83	IEQAX	Icon Equity Income	Pair Corr
0.91	VFAIX	Vanguard Financials Index	Pair Corr
0.86	FRBCX	Regional Bank	Pair Corr
0.82	JRGRX	Regional Bank	Pair Corr
0.91	PRISX	T Rowe Price	Pair Corr
0.91	FIDCX	Financial Industries	Pair Corr
0.86	JFDRX	Financial Industries	Pair Corr
0.91	TFIFX	T Rowe Price	Pair Corr
0.86	DVFYX	Davis Financial	Pair Corr
0.86	RPFGX	Davis Financial	Pair Corr
0.92	DFFCX	Davis Financial	Pair Corr
0.92	ASG	Liberty All Star	Pair Corr
0.89	CII	Blackrock Enhanced	Pair Corr
0.88	ETV	Eaton Vance Tax	Pair Corr
0.84	CLM	Cornerstone Strategic	Pair Corr
0.83	CRF	Cornerstone Strategic	Pair Corr
0.9	USA	Liberty All Star	Pair Corr
0.86	ETY	Eaton Vance Tax	Pair Corr
0.75	NFJ	Virtus Dividend Interest	Pair Corr
0.9	LTFOX	Lord Abbett Affiliated	Pair Corr
0.88	FBALX	Fidelity Balanced	Pair Corr
0.79	RQECX	Resq Dynamic Allocation	Pair Corr
0.62	RIV	Rivernorth Opportunities	Pair Corr
0.87	GAB	Gabelli Equity Trust	Pair Corr
0.88	SCRYX	Small Cap Core	Pair Corr

Related Correlations Analysis

	DLDCX	SBMBX	FNCRX	ICBAX	APWEX	XNDPX	CGAEX
DLDCX		0.93	0.98	0.71	0.76	0.75	0.37	DLDCX
SBMBX	0.93		0.96	0.52	0.55	0.54	0.56	SBMBX
FNCRX	0.98	0.96		0.69	0.75	0.75	0.37	FNCRX
ICBAX	0.71	0.52	0.69		0.87	0.82	0.03	ICBAX
APWEX	0.76	0.55	0.75	0.87		0.93	-0.09	APWEX
XNDPX	0.75	0.54	0.75	0.82	0.93		-0.23	XNDPX
CGAEX	0.37	0.56	0.37	0.03	-0.09	-0.23		CGAEX
	DLDCX	SBMBX	FNCRX	ICBAX	APWEX	XNDPX	CGAEX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FNCRX	+ 0.98	DLDCX
FNCRX	+ 0.96	SBMBX
SBMBX	+ 0.93	DLDCX
XNDPX	+ 0.93	APWEX
APWEX	+ 0.87	ICBAX
XNDPX	+ 0.82	ICBAX

High negative correlations

CGAEX	- 0.23	XNDPX
CGAEX	- 0.09	APWEX

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
DLDCX	0.92	0.08	(0.02)	(1.64)	1.29	(0.93)	2.08	(2.05)	6.37
SBMBX	0.75	0.03	(0.06)	(0.36)	1.08	(0.72)	1.43	(1.63)	4.41
FNCRX	0.77	0.06	(0.03)	(1.87)	1.03	(0.79)	1.60	(1.81)	5.15
ICBAX	0.80	0.01	0.04	0.11	0.74	(0.91)	1.94	(1.24)	6.37
APWEX	0.89	0.11	0.09	0.20	0.94	(0.98)	2.01	(1.67)	5.80
XNDPX	0.87	0.21	0.07	(13.16)	1.00	(0.89)	1.82	(1.89)	4.96
CGAEX	0.76	(0.03)	0.00	0.45	0.00	0.00	1.56	(1.90)	4.71

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