Icon Bond Correlations

Mutual Funds . USA . 
Fund . Icon Bond Fund
IOBAX Fund  USD 8.46  0.01  0.12%   
The current 90-days correlation between Icon Bond Fund and Victory Rs Small is 0.27 (i.e., Modest diversification). 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

Very poor diversification

The correlation between Icon Bond Fund and DJI is 0.85 (i.e., Very poor 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

  1.0IOBZX Icon Bond FundPairCorr
  0.94IOEZX Icon Equity IncomePairCorr
  0.89IOLZX Icon Long/shortPairCorr
  0.88ISTAX Icon Long/shortPairCorr
  0.94ICBAX Icon Natural ResourcesPairCorr
  0.95ICBMX Icon Natural ResourcesPairCorr
  0.65ICTEX Icon Information TecPairCorr
  0.61ICTTX Icon Information TecPairCorr
  0.76ICTVX Icon UtilitiesPairCorr
  0.78ICTUX Icon Utilities AndPairCorr
  0.94IEQAX Icon Equity IncomePairCorr
  0.92PONAX Pimco IncomePairCorr
  0.92PONCX Pimco IncomePairCorr
  0.94PIPNX Pimco IncomePairCorr
  0.94PONRX Pimco IncomePairCorr
  0.93PONPX Pimco Incme FundPairCorr
  0.94PIINX Pimco IncomePairCorr
  0.94PIMIX Pimco IncomePairCorr
  0.97LBNDX Lord Abbett BondPairCorr
  0.95FSTAX Fidelity Advisor StrPairCorr
  0.95FSRIX Fidelity Advisor StrPairCorr
  0.78MGGYX Mirova Global GreenPairCorr
  0.96HLDIX Hartford EmergingPairCorr
  0.96HLDRX Hartford EmergingPairCorr
  0.96HLDAX Hartford EmergingPairCorr
  0.97HLDCX Hartford EmergingPairCorr
  0.97HLDTX Hartford EmergingPairCorr
  0.93NWJVX Nationwide Highmark ShortPairCorr
  0.96FSNPX Fidelity Freedom 2025PairCorr
  0.95GMOIX Gmo International EquityPairCorr
  0.92PCEQX Pioneer Equity IncomePairCorr
  0.73GSPKX Goldman Sachs EquityPairCorr
  0.96XCEEX Central EuropePairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SSAGX  0.05  0.01  0.00  0.60  0.00 
 0.00 
 0.10 
(0.10)
 0.51 
TEPFX  0.05  0.02  0.00  3.72  0.00 
 0.00 
 0.10 
 0.00 
 0.21 
GBAB  0.40  0.04 (0.02) 0.32  0.56 
(0.40)
 0.94 
(0.87)
 2.92 
ARMZX  0.04  0.01  0.00  0.41  0.00 
 0.00 
 0.11 
(0.11)
 0.44 
MGBIX  0.14  0.01 (0.32) 0.60  0.06 
(0.16)
 0.27 
(0.32)
 0.73 
SSCVX  0.73  0.22  0.19  3.36  0.55 
(0.87)
 1.84 
(1.45)
 4.59 
MWHIX  0.10  0.01 (0.48) 1.52  0.00 
(0.21)
 0.22 
(0.11)
 0.98 
FLDFX  0.41  0.08  0.10  0.20  0.19 
(0.53)
 0.93 
(0.74)
 4.03 
RSYEX  0.96 (0.01) 0.00  0.07  1.15 
(0.98)
 1.77 
(2.02)
 5.54 
RSEGX  0.96 (0.01) 0.00  0.06  1.17 
(0.98)
 1.76 
(2.02)
 5.54 

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