Intrepid Income Correlations

Mutual Funds . USA . 
Fund . Intrepid Income Fund
ICMUX Fund  USD 8.93  0.06  0.67%   
The current 90-days correlation between Intrepid Income and Heartland Value Plus is -0.07 (i.e., Good diversification). The correlation of Intrepid Income 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 Income Correlation With Market

Very poor diversification

The correlation between Intrepid Income Fund 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 Intrepid Income 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 Income 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 manufacturing.

Moving together with Intrepid Mutual Fund

  0.85ICMVX Intrepid CapitalPairCorr
  0.88ICMBX Intrepid CapitalPairCorr
  0.77PONAX Pimco IncomePairCorr
  0.78PONCX Pimco IncomePairCorr
  0.77PIPNX Pimco IncomePairCorr
  0.76PONRX Pimco IncomePairCorr
  0.77PONPX Pimco Incme FundPairCorr
  0.77PIINX Pimco IncomePairCorr
  0.77PIMIX Pimco IncomePairCorr
  0.85LBNDX Lord Abbett BondPairCorr
  0.81FSTAX Fidelity Advisor StrPairCorr
  0.8FSRIX Fidelity Advisor StrPairCorr
  0.78RYMEX Commodities StrategyPairCorr
  0.8RYMJX Commodities StrategyPairCorr
  0.81RYMBX Commodities StrategyPairCorr
  0.81BRUFX Bruce Fund BrucePairCorr
  0.86SPGSX State Street PremierPairCorr
  0.79KF Korea ClosedPairCorr
  0.93PGGAX American Funds GlobalPairCorr
  0.7TFEBX Tax Exempt BondPairCorr
  0.86BRSDX Mfs Blended ResearchPairCorr
  0.86SEEIX Sei Instit InternationalPairCorr
  0.8BCAAX Brandywineglobal CPairCorr
  0.84RTITX Select InternationalPairCorr
  0.85AAMAX Absolute Capital AssetPairCorr
  0.88GEMRX Aberdeen Emerging MarketsPairCorr
  0.69AMHIX American High IncomePairCorr
  0.83FQIFX Fidelity Freedom IndexPairCorr
  0.82AALGX Thrivent Large CapPairCorr
  0.86PRMSX T Rowe PricePairCorr
  0.83MEIIX Mfs Value FundPairCorr
  0.83LAMCX Lord Abbett CalibratedPairCorr
  0.76FAFGX American FundsPairCorr
  0.84FGDIX Fidelity Advisor Gold Steady GrowthPairCorr
  0.91SSDYX State Street TargetPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Intrepid Mutual Fund performing well and Intrepid Income 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 Income'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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