Icon Utilities Correlations

ICTUX Fund

USD 12.14 0.16 1.34%

The current 90-days correlation between Icon Utilities And and Emerald Banking And is -0.22 (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

Very weak diversification

The correlation between Icon Utilities And and DJI is 0.48 (i.e., Very weak 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 manufacturing.

Moving together with Icon Mutual Fund

0.85	IOBAX	Icon Bond Fund	Pair Corr
0.79	IOBZX	Icon Bond Fund	Pair Corr
0.87	IOEZX	Icon Equity Income	Pair Corr
0.77	ISTAX	Icon Long/short	Pair Corr
0.76	ICBAX	Icon Natural Resources	Pair Corr
0.76	ICBMX	Icon Natural Resources	Pair Corr
1.0	ICTVX	Icon Utilities	Pair Corr
0.86	IEQAX	Icon Equity Income	Pair Corr
0.95	FKUTX	Franklin Utilities	Pair Corr
0.89	FRUSX	Franklin Utilities	Pair Corr
0.89	FKUQX	Franklin Utilities	Pair Corr
0.9	FRUAX	Franklin Utilities	Pair Corr
0.9	FRURX	Franklin Utilities	Pair Corr
0.9	FUFRX	Franklin Utilities	Pair Corr
0.88	FFUIX	Fidelity Advisor Uti	Pair Corr
0.74	FSUTX	Utilities Portfolio	Pair Corr
0.91	VUIAX	Vanguard Utilities Index	Pair Corr
0.69	PRUZX	Prudential Utility	Pair Corr
0.81	FHAWX	Fidelity Freedom Blend	Pair Corr
0.68	SGHSX	Deutsche Global High	Pair Corr
0.83	EMLAX	Mfs Emerging Markets	Pair Corr
0.86	THMBX	Thrivent High Income	Pair Corr

Moving against Icon Mutual Fund

0.93	INPIX	Internet Ultrasector	Pair Corr
0.86	INPSX	Internet Ultrasector	Pair Corr
0.63	RYVYX	Nasdaq 100 2x	Pair Corr
0.61	UOPIX	Ultra Nasdaq 100	Pair Corr
0.61	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.44	JACTX	Janus Forty Fund	Pair Corr
0.31	RYVLX	Nasdaq 100 2x	Pair Corr

Related Correlations Analysis

	JUCTX	JUCCX	MXE	JIDVX	JNDVX	TNTIX	RPXFX	FQUAX	MMCFX	HSSAX
JUCTX		0.91	0.89	0.92	0.92	0.89	0.19	0.69	0.66	-0.11	JUCTX
JUCCX	0.91		0.9	0.93	0.93	0.89	0.23	0.72	0.69	-0.04	JUCCX
MXE	0.89	0.9		0.94	0.94	0.91	0.19	0.73	0.69	-0.16	MXE
JIDVX	0.92	0.93	0.94		1.0	0.88	0.33	0.81	0.71	0.03	JIDVX
JNDVX	0.92	0.93	0.94	1.0		0.88	0.33	0.81	0.71	0.03	JNDVX
TNTIX	0.89	0.89	0.91	0.88	0.88		0.11	0.65	0.74	-0.27	TNTIX
RPXFX	0.19	0.23	0.19	0.33	0.33	0.11		0.7	0.41	0.68	RPXFX
FQUAX	0.69	0.72	0.73	0.81	0.81	0.65	0.7		0.57	0.27	FQUAX
MMCFX	0.66	0.69	0.69	0.71	0.71	0.74	0.41	0.57		0.14	MMCFX
HSSAX	-0.11	-0.04	-0.16	0.03	0.03	-0.27	0.68	0.27	0.14		HSSAX
	JUCTX	JUCCX	MXE	JIDVX	JNDVX	TNTIX	RPXFX	FQUAX	MMCFX	HSSAX

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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

JNDVX	+ 1.0	JIDVX
JIDVX	+ 0.94	MXE
JNDVX	+ 0.94	MXE
JIDVX	+ 0.93	JUCCX
JNDVX	+ 0.93	JUCCX
JIDVX	+ 0.92	JUCTX

High negative correlations

HSSAX	- 0.27	TNTIX
HSSAX	- 0.16	MXE
HSSAX	- 0.11	JUCTX
HSSAX	- 0.04	JUCCX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
JUCTX	0.07	0.01	0.00	(2.09)	0.00	0.00	0.22	(0.11)	1.77
JUCCX	0.07	0.00	0.00	0.14	0.00	0.00	0.22	(0.11)	1.76
MXE	0.95	0.28	0.20	0.84	0.73	(1.13)	2.38	(1.63)	6.64
JIDVX	0.57	0.10	0.11	0.20	0.49	(0.66)	1.36	(0.97)	3.78
JNDVX	0.57	0.10	0.11	0.20	0.48	(0.66)	1.44	(1.04)	3.77
TNTIX	0.08	0.02	(0.31)	1.28	0.00	(0.15)	0.28	(0.09)	0.75
RPXFX	0.77	0.06	0.03	0.16	0.89	(0.86)	1.24	(1.93)	12.15
FQUAX	0.83	0.21	0.23	0.40	0.40	(1.16)	1.76	(1.19)	12.83
MMCFX	0.76	0.02	(0.01)	0.11	0.81	(0.81)	1.89	(1.49)	5.05
HSSAX	1.19	0.08	0.01	0.67	1.45	(1.30)	3.15	(2.39)	8.28

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