Icon Utilities Correlations

Mutual Funds . USA . 
Fund . Icon Utilities And
ICTUX Fund  USD 10.64  0.07  0.65%   
The current 90-days correlation between Icon Utilities And and My529 Large Cap is -0.23 (i.e., Very good diversification). The correlation of Icon Utilities 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 Utilities Correlation With Market

Modest diversification

The correlation between Icon Utilities And and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Utilities And 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 Utilities And. 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 private.

Moving together with Icon Mutual Fund

  1.0ICTVX Icon UtilitiesPairCorr
  0.77FKUTX Franklin UtilitiesPairCorr
  0.77FRUSX Franklin UtilitiesPairCorr
  0.77FKUQX Franklin UtilitiesPairCorr
  0.77FRUAX Franklin UtilitiesPairCorr
  0.78FRURX Franklin UtilitiesPairCorr
  0.77FUFRX Franklin UtilitiesPairCorr
  0.74FSUTX Utilities PortfolioPairCorr
  0.76VUIAX Vanguard Utilities IndexPairCorr

Moving against Icon Mutual Fund

  0.7IOLZX Icon LongshortPairCorr
  0.7ISTAX Icon LongshortPairCorr
  0.7ICTTX Icon Information TecPairCorr
  0.69ICFSX Icon FinancialPairCorr
  0.66ICFAX Icon FinancialPairCorr
  0.63IOEZX Icon Equity IncomePairCorr
  0.63IEQAX Icon Equity IncomePairCorr
  0.62ICBMX Icon Natural ResourcesPairCorr
  0.62ICTEX Icon Information TecPairCorr
  0.61ICBAX Icon Natural ResourcesPairCorr
  0.49IOBAX Icon Bond FundPairCorr
  0.47IOBZX Icon Bond FundPairCorr
  0.72RYJUX Inverse Government LongPairCorr
  0.56LPXCX Cohen Steers LowPairCorr
  0.53MECZX Amg Managers CadencePairCorr
  0.5PYLDX Payden RygelPairCorr
  0.49FGDAX Gold Portfolio FidelityPairCorr
  0.47PQTNX Pimco Trends ManagedPairCorr
  0.47PQTIX Aa Pimco TrPairCorr
  0.46PQTAX Pimco Trends ManagedPairCorr
  0.44VTCLX Vanguard Tax ManagedPairCorr
  0.42GLPAX Goldman Sachs MlpPairCorr
  0.42THGRX Thornburg E GrowthPairCorr
  0.41GAAKX Gmo Alternative AlloPairCorr
  0.39GAAGX Gmo Alternative AlloPairCorr
  0.32DIFDX Mfs Diversified IncomePairCorr
  0.31GPMFX Guidepath Managed FuturesPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Utilities 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 Utilities' 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.

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