Icon Bond Correlations

IOBAX Fund

USD 8.68 0.01 0.12%

The correlation of Icon Bond 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 Bond Correlation With Market

Weak diversification

The correlation between Icon Bond Fund and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Bond Fund 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 Bond Fund. 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

0.99	IOBZX	Icon Bond Fund	Pair Corr
0.84	PONAX	Pimco Income	Pair Corr
0.82	PONCX	Pimco Income	Pair Corr
0.87	PIPNX	Pimco Income	Pair Corr
0.84	PONRX	Pimco Income	Pair Corr
0.87	PONPX	Pimco Incme Fund	Pair Corr
0.87	PIINX	Pimco Income	Pair Corr
0.87	PIMIX	Pimco Income	Pair Corr
0.7	LBNDX	Lord Abbett Bond	Pair Corr
0.63	FSTAX	Fidelity Advisor Str	Pair Corr
0.65	FSRIX	Fidelity Advisor Str	Pair Corr
0.68	RYMEX	Commodities Strategy	Pair Corr
0.68	RYMJX	Commodities Strategy	Pair Corr
0.68	RYMBX	Commodities Strategy	Pair Corr
0.92	FGUAX	Federated Government	Pair Corr
0.84	PPARX	Preferred Securities	Pair Corr
0.9	BXMYX	Blackstone Alternative	Pair Corr
0.71	JVANX	John Hancock Variable	Pair Corr
0.98	SMDSX	Alpssmith Short Duration	Pair Corr
0.83	NPSRX	Nuveen Preferred Sec	Pair Corr
0.88	GGMPX	Goldman Sachs High	Pair Corr
0.95	RPIHX	T Rowe Price	Pair Corr
0.71	JSOCX	Jpmorgan Strategic Income	Pair Corr

Moving against Icon Mutual Fund

0.54	ICFAX	Icon Financial	Pair Corr
0.54	ICFSX	Icon Financial	Pair Corr
0.42	ISTAX	Icon Long/short	Pair Corr
0.34	ICBAX	Icon Natural Resources	Pair Corr
0.33	ICBMX	Icon Natural Resources	Pair Corr
0.55	SPGSX	State Street Premier	Pair Corr

Related Correlations Analysis

	QDARX	GPICX	DLTZX	CAARX	PGDCX	BICPX
QDARX		0.82	0.64	0.05	0.2	0.07	QDARX
GPICX	0.82		0.88	0.2	0.39	0.23	GPICX
DLTZX	0.64	0.88		0.48	0.67	0.52	DLTZX
CAARX	0.05	0.2	0.48		0.95	0.99	CAARX
PGDCX	0.2	0.39	0.67	0.95		0.96	PGDCX
BICPX	0.07	0.23	0.52	0.99	0.96		BICPX
	QDARX	GPICX	DLTZX	CAARX	PGDCX	BICPX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Bond 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 Bond'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
QDARX	0.09	0.00	(0.01)	0.00	0.07	(0.13)	0.25	(0.25)	0.58
GPICX	0.03	0.01	0.00	0.46	0.00	0.00	0.10	0.00	0.21
DLTZX	0.08	0.01	0.04	0.44	0.00	(0.19)	0.26	(0.13)	0.64
CAARX	0.27	0.00	0.01	0.02	0.36	(0.29)	0.67	(0.49)	2.05
PGDCX	0.14	0.00	0.00	0.03	0.10	(0.21)	0.34	(0.34)	0.94
BICPX	0.24	0.01	0.01	0.02	0.28	(0.30)	0.54	(0.45)	1.80

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