Icon Information Correlations

ICTEX Fund

USD 15.56 0.16 1.04%

The current 90-days correlation between Icon Information Tec and Vanguard Energy Index is 0.25 (i.e., Modest diversification). The correlation of Icon Information 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 Information Correlation With Market

Weak diversification

The correlation between Icon Information Technology 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 Icon Information Technology 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 Information Technology. 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 american community survey.

Moving together with Icon Mutual Fund

0.88	IOBAX	Icon Bond Fund	Pair Corr
0.85	IOBZX	Icon Bond Fund	Pair Corr
0.88	IOEZX	Icon Equity Income	Pair Corr
0.98	IOLZX	Icon Longshort	Pair Corr
0.98	ISTAX	Icon Longshort	Pair Corr
0.96	ICBAX	Icon Natural Resources	Pair Corr
0.96	ICBMX	Icon Natural Resources	Pair Corr
0.97	ICFAX	Icon Financial	Pair Corr
0.97	ICFSX	Icon Financial	Pair Corr
1.0	ICTTX	Icon Information Tec	Pair Corr
0.88	IEQAX	Icon Equity Income	Pair Corr
0.65	FSELX	Fidelity Select Semi	Pair Corr
0.83	SLMCX	Columbia Seligman	Pair Corr
0.84	SCICX	Columbia Seligman	Pair Corr
0.81	CCIFX	Columbia Seligman	Pair Corr
0.73	PRSCX	T Rowe Price	Pair Corr
0.72	GAAKX	Gmo Alternative Allo	Pair Corr
0.7	GAAGX	Gmo Alternative Allo	Pair Corr
0.78	PQTAX	Pimco Trends Managed	Pair Corr
0.78	PQTNX	Pimco Trends Managed	Pair Corr
0.78	PQTIX	Aa Pimco Tr	Pair Corr
0.9	PHDCX	High Yield Fund	Pair Corr
0.81	VSTCX	Vanguard Strategic	Pair Corr
0.88	FODJX	Oklahoma College Savings	Pair Corr
0.74	OLCAX	Oppenheimer Rochester	Pair Corr
0.67	DCPCX	Bny Mellon Insight	Pair Corr
0.87	JAFDX	Jafdx	Pair Corr
0.87	AOD	Aberdeen Total Dynamic	Pair Corr
0.68	AAAAX	Deutsche Real Assets	Pair Corr

Moving against Icon Mutual Fund

0.7	ICTUX	Icon Utilities And	Pair Corr
0.69	ICTVX	Icon Utilities	Pair Corr

Related Correlations Analysis

	VENAX	TMCLX	ICBAX	HNRGX	XGNTX	IGNAX	FRNRX	GRHAX
VENAX		0.67	0.45	0.95	0.47	0.48	0.64	0.33	VENAX
TMCLX	0.67		0.35	0.55	0.55	0.46	0.57	0.45	TMCLX
ICBAX	0.45	0.35		0.58	0.88	0.92	0.9	0.84	ICBAX
HNRGX	0.95	0.55	0.58		0.57	0.58	0.72	0.38	HNRGX
XGNTX	0.47	0.55	0.88	0.57		0.97	0.96	0.88	XGNTX
IGNAX	0.48	0.46	0.92	0.58	0.97		0.97	0.91	IGNAX
FRNRX	0.64	0.57	0.9	0.72	0.96	0.97		0.87	FRNRX
GRHAX	0.33	0.45	0.84	0.38	0.88	0.91	0.87		GRHAX
	VENAX	TMCLX	ICBAX	HNRGX	XGNTX	IGNAX	FRNRX	GRHAX

Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Information 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 Information'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
VENAX	0.88	0.01	(0.01)	0.08	1.13	(0.86)	1.65	(1.46)	5.09
TMCLX	0.62	(0.03)	0.00	(0.04)	0.00	0.00	1.06	(1.39)	3.11
ICBAX	1.29	0.12	0.11	0.13	1.14	(1.58)	3.34	(1.94)	11.98
HNRGX	0.93	0.04	0.02	0.11	1.27	(0.87)	1.76	(1.58)	5.72
XGNTX	0.64	0.05	0.03	0.14	0.78	(0.68)	1.53	(1.41)	3.15
IGNAX	0.90	0.05	0.04	0.11	1.15	(0.90)	1.62	(2.10)	5.41
FRNRX	0.88	0.06	0.04	0.12	1.08	(0.92)	1.75	(1.93)	4.74
GRHAX	1.39	0.10	0.06	0.14	1.81	(1.45)	2.64	(3.38)	7.71

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