Icon Information Correlations

Mutual Funds . USA . 
Fund . Icon Information Technology
ICTEX Fund  USD 16.43  0.14  0.84%   
The current 90-days correlation between Icon Information Tec and Nuveen Minnesota Municipal is 0.11 (i.e., Average 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 0.83 (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 discontinued.

Moving together with Icon Mutual Fund

  0.77IOBZX Icon Bond FundPairCorr
  0.73IOEZX Icon Equity IncomePairCorr
  0.92IOLZX Icon Long/shortPairCorr
  0.89ICBAX Icon Natural ResourcesPairCorr
  0.87ICBMX Icon Natural ResourcesPairCorr
  0.96ICFAX Icon FinancialPairCorr
  0.93ICFSX Icon FinancialPairCorr
  0.96ICTTX Icon Information TecPairCorr
  0.73IEQAX Icon Equity IncomePairCorr
  0.82JAGTX Janus Global TechnologyPairCorr
  0.75GAAKX Gmo Alternative AlloPairCorr
  0.61GPBFX Gmo E PlusPairCorr
  0.74GPMFX Guidepath Managed FuturesPairCorr
  0.64DEMCX Delaware Emerging MarketsPairCorr
  0.82VFINX Vanguard 500 IndexPairCorr
  0.71PCGLX Pace International FixedPairCorr
  0.68TFAGX Tfa Alphagen GrowthPairCorr
  0.78AMGIX Income GrowthPairCorr
  0.77RTLCX Tax Managed LargePairCorr
  0.61EMQCX Ashmore Emerging MarketsPairCorr
  0.76TTOIX Target 2060 FundPairCorr

Related Correlations Analysis


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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
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