Icon Correlations

ICON Stock

587.70 0.10 0.02%

The current 90-days correlation between Icon Group and Accel Solutions Group is 0.01 (i.e., Significant diversification). The correlation of Icon 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.

Icon Correlation With Market

Very weak diversification

The correlation between Icon Group and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Group and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Icon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Icon when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Icon - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Icon Group to buy it.

Moving together with Icon Stock

0.76	MGDL	Migdal Insurance	Pair Corr
0.67	PHOE	Phoenix Holdings	Pair Corr
0.69	HARL	Harel Insurance Inve	Pair Corr
0.75	CLIS	Clal Insurance Enter	Pair Corr
0.72	MMHD	Menora Miv Hld	Pair Corr
0.61	PZOL	Paz Oil	Pair Corr
0.69	DSCT	Israel Discount Bank	Pair Corr
0.83	BLND	Blender Financial	Pair Corr
0.7	FIBI	First International Bank	Pair Corr
0.8	ELMR	El Mor Electric	Pair Corr
0.68	EXPO	Export Inv	Pair Corr
0.61	TEDE	Tedea Technological	Pair Corr
0.66	WLFD	Willy Food	Pair Corr
0.62	AZRG	Azrieli Group	Pair Corr
0.62	BSEN	Bet Shemesh Engines	Pair Corr
0.66	ESLT	Elbit Systems	Pair Corr
0.66	TRLT	Tera Light	Pair Corr
0.7	CRMT	Carmit	Pair Corr

Moving against Icon Stock

0.57	BRMG	Brimag L	Pair Corr
0.53	RLCO	Ralco Agencies	Pair Corr
0.43	EFNC	Erech Finance Cahalacha	Pair Corr

Related Correlations Analysis

	ACCL	UNIT	STG	BRMG	RLCO	CMER	EMCO	ALAR	SARN	PMNT
ACCL		0.64	0.41	-0.37	-0.3	0.44	0.67	0.01	-0.41	-0.09	ACCL
UNIT	0.64		0.69	-0.16	-0.06	0.65	0.19	0.14	-0.29	0.25	UNIT
STG	0.41	0.69		-0.58	-0.5	0.92	-0.26	-0.47	-0.74	0.69	STG
BRMG	-0.37	-0.16	-0.58		0.89	-0.7	0.09	0.77	0.85	-0.48	BRMG
RLCO	-0.3	-0.06	-0.5	0.89		-0.62	0.05	0.82	0.83	-0.39	RLCO
CMER	0.44	0.65	0.92	-0.7	-0.62		-0.23	-0.57	-0.81	0.7	CMER
EMCO	0.67	0.19	-0.26	0.09	0.05	-0.23		0.36	0.21	-0.72	EMCO
ALAR	0.01	0.14	-0.47	0.77	0.82	-0.57	0.36		0.78	-0.49	ALAR
SARN	-0.41	-0.29	-0.74	0.85	0.83	-0.81	0.21	0.78		-0.65	SARN
PMNT	-0.09	0.25	0.69	-0.48	-0.39	0.7	-0.72	-0.49	-0.65		PMNT
	ACCL	UNIT	STG	BRMG	RLCO	CMER	EMCO	ALAR	SARN	PMNT

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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

CMER	+ 0.92	STG
RLCO	+ 0.89	BRMG
SARN	+ 0.85	BRMG
SARN	+ 0.83	RLCO
ALAR	+ 0.82	RLCO
SARN	+ 0.78	ALAR

High negative correlations

SARN	- 0.81	CMER
SARN	- 0.74	STG
PMNT	- 0.72	EMCO
CMER	- 0.7	BRMG
PMNT	- 0.65	SARN
CMER	- 0.62	RLCO

Risk-Adjusted Indicators

There is a big difference between Icon Stock performing well and Icon Company 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'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
ACCL	1.82	(0.21)	0.00	(0.52)	0.00	0.00	3.46	(3.48)	17.04
UNIT	1.90	(0.05)	0.00	0.17	0.00	0.00	4.50	(5.01)	18.78
STG	2.05	0.33	0.15	0.76	1.60	(2.53)	5.83	(3.15)	12.31
BRMG	1.35	(0.15)	0.00	50.87	0.00	0.00	2.48	(3.00)	10.80
RLCO	1.62	(0.32)	0.00	1.33	0.00	0.00	3.26	(4.13)	10.93
CMER	1.77	0.59	0.28	5.89	1.30	(2.26)	4.22	(2.72)	21.60
EMCO	1.34	(0.20)	0.00	(1.90)	0.00	0.00	2.10	(4.00)	9.86
ALAR	3.52	(1.10)	0.00	(2.36)	0.00	0.00	8.42	(7.44)	26.60
SARN	1.87	(0.60)	0.00	(1.78)	0.00	0.00	3.13	(4.57)	11.63
PMNT	1.75	0.69	0.37	(6.35)	1.02	(2.21)	5.05	(2.28)	16.44

Be your own money manager

Our tools can tell you how much better you can do entering a position in Icon without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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