Icon Information Correlations

ICTEX Fund

USD 17.22 0.13 0.76%

The current 90-days correlation between Icon Information Tec and VEEA is -0.01 (i.e., Good 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

Poor diversification

The correlation between Icon Information Technology and DJI is 0.74 (i.e., 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 income.

Moving against Icon Mutual Fund

0.5	EVOL	Evolving Systems	Pair Corr
0.44	VHAI	VHAI	Pair Corr
0.44	VVPR	VivoPower International Tech Boost	Pair Corr
0.41	DMAN	Innovativ Media Group	Pair Corr
0.36	DLPX	Delphax Technologies	Pair Corr
0.34	SBIGW	SpringBig Holdings	Pair Corr
0.33	ELCO	Elcom International	Pair Corr
0.52	ZPTAW	Zapata Computing Holdings	Pair Corr
0.52	ZPTA	Zapata Computing Holdings Symbol Change	Pair Corr
0.46	GETR	Getaround Financial Report 20th of December 2024	Pair Corr
0.41	SURGW	SurgePays Warrant	Pair Corr
0.36	WRNT	Warrantee American	Pair Corr
0.36	VLD	Velo3D Inc	Pair Corr

Related Correlations Analysis

	VEEA	VVPR	WBTN	IOBZX	IOEZX	IOLZX	ISTAX	ICBAX	ICBMX	ICFAX
VEEA		0.07	-0.39	0.23	-0.04	-0.32	-0.32	-0.1	-0.11	-0.24	VEEA
VVPR	0.07		0.54	-0.85	-0.57	-0.64	-0.64	-0.6	-0.6	-0.63	VVPR
WBTN	-0.39	0.54		-0.64	-0.02	-0.14	-0.14	-0.1	-0.1	-0.08	WBTN
IOBZX	0.23	-0.85	-0.64		0.61	0.57	0.57	0.62	0.63	0.61	IOBZX
IOEZX	-0.04	-0.57	-0.02	0.61		0.79	0.79	0.87	0.87	0.84	IOEZX
IOLZX	-0.32	-0.64	-0.14	0.57	0.79		1.0	0.91	0.92	0.93	IOLZX
ISTAX	-0.32	-0.64	-0.14	0.57	0.79	1.0		0.91	0.92	0.93	ISTAX
ICBAX	-0.1	-0.6	-0.1	0.62	0.87	0.91	0.91		1.0	0.93	ICBAX
ICBMX	-0.11	-0.6	-0.1	0.63	0.87	0.92	0.92	1.0		0.93	ICBMX
ICFAX	-0.24	-0.63	-0.08	0.61	0.84	0.93	0.93	0.93	0.93		ICFAX
	VEEA	VVPR	WBTN	IOBZX	IOEZX	IOLZX	ISTAX	ICBAX	ICBMX	ICFAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

ISTAX	+ 1.0	IOLZX
ICBMX	+ 1.0	ICBAX
ICFAX	+ 0.93	IOLZX
ICFAX	+ 0.93	ISTAX
ICFAX	+ 0.93	ICBAX
ICFAX	+ 0.93	ICBMX

High negative correlations

IOBZX	- 0.85	VVPR
IOBZX	- 0.64	WBTN
ISTAX	- 0.64	VVPR
IOLZX	- 0.64	VVPR
ICFAX	- 0.63	VVPR
ICBMX	- 0.6	VVPR

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
VEEA	9.51	(0.96)	0.00	0.52	0.00	0.00	11.11	(23.71)	157.04
VVPR	6.13	(0.60)	0.00	(1.81)	0.00	0.00	6.40	(15.56)	112.34
WBTN	3.08	(0.32)	0.00	(0.07)	0.00	0.00	7.65	(7.67)	20.14
IOBZX	0.09	0.01	(0.66)	0.85	0.00	(0.13)	0.23	(0.23)	0.46
IOEZX	0.51	(0.02)	(0.10)	0.09	0.46	(0.56)	1.15	(0.98)	3.93
IOLZX	0.84	0.04	0.11	0.15	0.54	(1.09)	1.60	(1.10)	7.13
ISTAX	0.83	0.04	0.11	0.15	0.54	(1.05)	1.61	(1.14)	7.19
ICBAX	0.81	0.01	0.05	0.13	0.67	(0.93)	1.94	(1.24)	6.37
ICBMX	0.81	0.02	0.05	0.13	0.68	(0.93)	1.91	(1.27)	6.36
ICFAX	0.72	(0.01)	0.00	0.11	0.75	(0.88)	1.45	(1.21)	5.10

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

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC