Icon Information Correlations

ICTEX Fund

USD 16.15 0.17 1.06%

The current 90-days correlation between Icon Information Tec and John Hancock Variable is 0.06 (i.e., Significant 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

Very poor diversification

The correlation between Icon Information Technology and DJI is 0.82 (i.e., Very poor 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

0.84	IOBAX	Icon Bond Fund	Pair Corr
0.85	IOEZX	Icon Equity Income	Pair Corr
0.97	IOLZX	Icon Long/short	Pair Corr
0.95	ISTAX	Icon Long/short	Pair Corr
0.93	ICBAX	Icon Natural Resources	Pair Corr
0.93	ICBMX	Icon Natural Resources	Pair Corr
0.97	ICFAX	Icon Financial	Pair Corr
0.97	ICFSX	Icon Financial	Pair Corr
0.85	IEQAX	Icon Equity Income	Pair Corr
0.7	FSELX	Fidelity Select Semi	Pair Corr
0.7	FSPTX	Technology Portfolio	Pair Corr
0.79	SLMCX	Columbia Seligman	Pair Corr
0.86	SCICX	Columbia Seligman	Pair Corr
0.78	CCIFX	Columbia Seligman	Pair Corr
0.77	PRSCX	T Rowe Price	Pair Corr
0.76	VSTSX	Vanguard Total Stock	Pair Corr
0.78	VSMPX	Vanguard Total Stock	Pair Corr
0.78	VITSX	Vanguard Total Stock	Pair Corr
0.74	VFFSX	Vanguard 500 Index	Pair Corr
0.76	VFIAX	Vanguard 500 Index	Pair Corr
0.76	VTSAX	Vanguard Total Stock	Pair Corr
0.74	VTSNX	Vanguard Total Inter	Pair Corr
0.71	VTISX	Vanguard Total Inter	Pair Corr
0.74	VTPSX	Vanguard Total Inter	Pair Corr
0.76	VINIX	Vanguard Institutional	Pair Corr
0.77	CCFTX	American Funds 2035	Pair Corr
0.61	FQCHX	Franklin Templeton Smacs	Pair Corr
0.78	OMGCX	Jpmorgan Mid Cap	Pair Corr
0.75	LICYX	Lord Abbett International	Pair Corr
0.68	FMSFX	Fidelity Advisor Mortgage	Pair Corr
0.77	TLFRX	Tiaa Cref Lifecycle	Pair Corr
0.79	HFESX	Janus Henderson European	Pair Corr

Moving against Icon Mutual Fund

0.49	ICTVX	Icon Utilities	Pair Corr
0.49	ICTUX	Icon Utilities And	Pair Corr

Related Correlations Analysis

	RGVJX	FSTGX	CFSTX	RYAQX	MXGMX	SSAGX	FCSCX	JAFWX
RGVJX		0.81	0.69	0.32	0.78	0.56	0.57	0.79	RGVJX
FSTGX	0.81		0.9	0.48	0.58	0.75	0.76	0.93	FSTGX
CFSTX	0.69	0.9		0.78	0.5	0.95	0.94	0.91	CFSTX
RYAQX	0.32	0.48	0.78		0.1	0.88	0.89	0.57	RYAQX
MXGMX	0.78	0.58	0.5	0.1		0.35	0.34	0.64	MXGMX
SSAGX	0.56	0.75	0.95	0.88	0.35		0.96	0.76	SSAGX
FCSCX	0.57	0.76	0.94	0.89	0.34	0.96		0.82	FCSCX
JAFWX	0.79	0.93	0.91	0.57	0.64	0.76	0.82		JAFWX
	RGVJX	FSTGX	CFSTX	RYAQX	MXGMX	SSAGX	FCSCX	JAFWX

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
RGVJX	0.13	(0.01)	(0.39)	(0.28)	0.16	(0.15)	0.25	(0.25)	0.66
FSTGX	0.08	(0.01)	(0.52)	(0.42)	0.08	(0.12)	0.20	(0.20)	0.51
CFSTX	0.06	0.00	(0.68)	0.02	0.00	(0.09)	0.12	(0.12)	0.37
RYAQX	0.41	0.06	(0.03)	(0.55)	0.30	(0.47)	1.00	(0.61)	2.02
MXGMX	0.14	(0.01)	(0.33)	(0.14)	0.18	(0.17)	0.27	(0.27)	0.72
SSAGX	0.05	0.00	0.00	0.00	0.00	0.00	0.10	(0.10)	0.51
FCSCX	0.05	0.01	(0.46)	(0.31)	0.00	(0.19)	0.13	(0.13)	0.53
JAFWX	0.07	(0.01)	(0.64)	(0.27)	0.05	(0.10)	0.09	(0.17)	0.43

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