Icon Equity Correlations

IEQAX Fund

USD 19.90 0.13 0.65%

The current 90-days correlation between Icon Equity Income and James Small Cap is 0.65 (i.e., Poor diversification). The correlation of Icon Equity 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 Equity Correlation With Market

Modest diversification

The correlation between Icon Equity Income and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Equity Income 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 Equity Income. 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 nation.

Moving together with Icon Mutual Fund

0.85	ICTVX	Icon Utilities	Pair Corr
0.73	ICTUX	Icon Utilities And	Pair Corr
0.68	CGRGX	American Funds Growth	Pair Corr
0.68	FPGGX	American Funds Growth	Pair Corr
0.88	TESRX	Franklin Mutual Shares	Pair Corr
0.67	CGQGX	American Funds Growth	Pair Corr
0.71	BRKBX	Mfs Blended Research	Pair Corr

Related Correlations Analysis

	BJBHX	RLGAX	EIPFX	EIPIX	NCBIX	BSVSX	VLT	HMSFX	CEV	JASCX
BJBHX		0.96	0.48	0.94	0.56	0.43	0.58	0.79	-0.16	0.57	BJBHX
RLGAX	0.96		0.4	0.91	0.47	0.32	0.46	0.82	-0.12	0.51	RLGAX
EIPFX	0.48	0.4		0.64	0.87	0.6	0.51	0.58	0.29	0.88	EIPFX
EIPIX	0.94	0.91	0.64		0.67	0.5	0.5	0.81	-0.05	0.62	EIPIX
NCBIX	0.56	0.47	0.87	0.67		0.81	0.68	0.38	-0.11	0.76	NCBIX
BSVSX	0.43	0.32	0.6	0.5	0.81		0.54	0.06	-0.46	0.59	BSVSX
VLT	0.58	0.46	0.51	0.5	0.68	0.54		0.22	-0.2	0.44	VLT
HMSFX	0.79	0.82	0.58	0.81	0.38	0.06	0.22		0.38	0.61	HMSFX
CEV	-0.16	-0.12	0.29	-0.05	-0.11	-0.46	-0.2	0.38		0.28	CEV
JASCX	0.57	0.51	0.88	0.62	0.76	0.59	0.44	0.61	0.28		JASCX
	BJBHX	RLGAX	EIPFX	EIPIX	NCBIX	BSVSX	VLT	HMSFX	CEV	JASCX

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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

RLGAX	+ 0.96	BJBHX
EIPIX	+ 0.94	BJBHX
EIPIX	+ 0.91	RLGAX
JASCX	+ 0.88	EIPFX
NCBIX	+ 0.87	EIPFX
HMSFX	+ 0.82	RLGAX

High negative correlations

CEV	- 0.46	BSVSX
CEV	- 0.2	VLT
CEV	- 0.16	BJBHX
CEV	- 0.12	RLGAX
CEV	- 0.11	NCBIX
CEV	- 0.05	EIPIX

Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Equity 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 Equity'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
BJBHX	0.10	0.04	(0.23)	(1.94)	0.00	(0.16)	0.26	(0.13)	0.53
RLGAX	0.38	0.04	0.02	0.15	0.34	(0.42)	0.76	(0.78)	2.42
EIPFX	0.83	0.45	0.52	(5.21)	0.00	(1.08)	1.44	(0.86)	15.51
EIPIX	0.80	0.40	0.47	(23.98)	0.00	(1.03)	1.44	(0.86)	15.53
NCBIX	0.28	0.07	0.07	0.39	0.00	(0.37)	0.50	(0.36)	5.25
BSVSX	1.30	0.24	0.21	0.27	0.89	(1.76)	2.24	(2.49)	16.57
VLT	0.25	0.00	(0.21)	0.05	0.23	(0.34)	0.55	(0.45)	1.92
HMSFX	0.68	0.22	0.18	(65.52)	0.53	(0.85)	1.46	(1.28)	3.68
CEV	0.38	0.05	(0.03)	2.38	0.43	(0.42)	0.87	(0.77)	2.33
JASCX	0.76	0.18	0.24	0.29	0.44	(1.01)	2.05	(0.87)	5.62

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