Icon Energy Correlations

ICON Stock

USD 3.15 2.75 687.50%

The current 90-days correlation between Icon Energy Corp and Delta Air Lines is 0.03 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Icon Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Icon Energy Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Icon Energy Correlation With Market

Good diversification

The correlation between Icon Energy Corp and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Energy Corp 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 Energy Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving against Icon Stock

0.48	SB-PC	Safe Bulkers	Pair Corr
0.67	DSX-PB	Diana Shipping	Pair Corr
0.63	CMRE-PD	Costamare	Pair Corr
0.54	CMRE-PC	Costamare	Pair Corr
0.43	GSL-PB	Global Ship Lease	Pair Corr
0.35	HTCO	Caravelle International Symbol Change	Pair Corr
0.6	AP	Ampco Pittsburgh	Pair Corr
0.52	B	Barnes Group	Pair Corr
0.38	BA	Boeing	Pair Corr

Related Correlations Analysis

	DAL	ASLE	KDP	ALTR	FHBC	CRSR	AIQUF	CCU
DAL		0.82	-0.56	0.38	0.0	0.74	-0.45	0.24	DAL
ASLE	0.82		-0.61	0.59	0.0	0.76	-0.64	0.51	ASLE
KDP	-0.56	-0.61		-0.55	0.0	-0.39	0.59	-0.13	KDP
ALTR	0.38	0.59	-0.55		0.0	0.51	-0.5	0.65	ALTR
FHBC	0.0	0.0	0.0	0.0		0.0	0.0	0.0	FHBC
CRSR	0.74	0.76	-0.39	0.51	0.0		-0.19	0.56	CRSR
AIQUF	-0.45	-0.64	0.59	-0.5	0.0	-0.19		-0.25	AIQUF
CCU	0.24	0.51	-0.13	0.65	0.0	0.56	-0.25		CCU
	DAL	ASLE	KDP	ALTR	FHBC	CRSR	AIQUF	CCU

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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

ASLE	+ 0.82	DAL
CRSR	+ 0.76	ASLE
CRSR	+ 0.74	DAL
CCU	+ 0.65	ALTR
ALTR	+ 0.59	ASLE
AIQUF	+ 0.59	KDP

High negative correlations

AIQUF	- 0.64	ASLE
KDP	- 0.61	ASLE
KDP	- 0.56	DAL
ALTR	- 0.55	KDP
AIQUF	- 0.5	ALTR
AIQUF	- 0.45	DAL

Risk-Adjusted Indicators

There is a big difference between Icon Stock performing well and Icon Energy 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 Energy'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
DAL	1.65	0.38	0.17	(0.98)	1.45	(2.06)	3.83	(2.91)	11.77
ASLE	1.79	0.37	0.13	1.61	1.94	(1.93)	4.14	(2.71)	12.13
KDP	0.98	(0.23)	0.00	(0.66)	0.00	0.00	1.66	(2.38)	6.30
ALTR	0.54	0.05	(0.02)	1.52	0.94	(0.52)	0.81	(1.39)	12.77
FHBC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CRSR	2.87	0.60	0.20	0.98	2.39	(3.39)	7.62	(4.32)	14.96
AIQUF	1.04	(0.10)	0.00	(0.66)	0.00	0.00	1.94	(2.51)	6.71
CCU	1.01	0.03	(0.03)	0.41	1.25	(1.06)	1.76	(1.94)	6.40

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