Intrepid Capital Correlations

ICMBX Fund

USD 12.82 0.03 0.23%

The current 90-days correlation between Intrepid Capital and Intrepid Endurance Fund is 0.05 (i.e., Significant diversification). The correlation of Intrepid Capital 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.

Intrepid Capital Correlation With Market

Weak diversification

The correlation between Intrepid Capital Fund and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intrepid Capital 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 Intrepid Capital 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 bureau of labor statistics.

Moving together with Intrepid Mutual Fund

1.0	ICMVX	Intrepid Capital	Pair Corr
0.72	ICMUX	Intrepid Income	Pair Corr
0.66	CII	Blackrock Enhanced	Pair Corr
0.83	EIBIX	Eaton Vance Income	Pair Corr
0.84	ADNPX	Amer Beacon Ark	Pair Corr
0.91	RYLIX	Leisure Fund Investor	Pair Corr
0.71	PFLLX	Putnam Floating Rate	Pair Corr
0.85	VFIAX	Vanguard 500 Index	Pair Corr
0.7	FOCPX	Fidelity Otc Portfolio	Pair Corr
0.87	FSHGX	Fidelity Sai High	Pair Corr
0.95	FSMAX	Fidelity Extended Market	Pair Corr
0.97	WEICX	Teton Vertible Securities	Pair Corr
0.79	CGTUX	Columbia Global Tech	Pair Corr
0.89	FHCAX	Fa529 Hg In	Pair Corr
0.93	FNILX	Fidelity Zero Large	Pair Corr
0.83	GLPCX	Goldman Sachs Mlp	Pair Corr
0.82	FBGRX	Fidelity Blue Chip	Pair Corr
0.79	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.97	VISGX	Vanguard Small Cap	Pair Corr
0.91	MIGPX	Global Advantage Por	Pair Corr
0.89	THCRX	Thornburg E Growth	Pair Corr

Moving against Intrepid Mutual Fund

0.78	PFHCX	Pacific Funds Small	Pair Corr
0.45	NHS	Neuberger Berman High	Pair Corr

Related Correlations Analysis

	ICMAX	GLRBX	GRSPX	BERIX	VILLX
ICMAX		0.29	0.31	0.34	0.19	ICMAX
GLRBX	0.29		0.86	0.53	0.9	GLRBX
GRSPX	0.31	0.86		0.4	0.77	GRSPX
BERIX	0.34	0.53	0.4		0.56	BERIX
VILLX	0.19	0.9	0.77	0.56		VILLX
	ICMAX	GLRBX	GRSPX	BERIX	VILLX

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Risk-Adjusted Indicators

There is a big difference between Intrepid Mutual Fund performing well and Intrepid Capital 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 Intrepid Capital'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
ICMAX	0.65	(0.03)	0.00	(0.89)	0.00	0.00	1.52	(1.35)	3.42
GLRBX	0.38	(0.04)	0.00	(0.59)	0.00	0.00	0.62	(0.90)	3.20
GRSPX	0.76	(0.04)	0.00	(0.14)	0.00	0.00	1.30	(1.23)	10.63
BERIX	0.23	0.00	(0.07)	(0.05)	0.29	(0.25)	0.38	(0.45)	1.66
VILLX	0.47	(0.06)	0.00	(0.31)	0.00	0.00	0.83	(1.01)	3.87

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