Icon Bond Correlations

IOBAX Fund

USD 8.49 0.01 0.12%

The current 90-days correlation between Icon Bond Fund and Victory Rs Small is 0.41 (i.e., Very weak 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 0.89 (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

0.99	IOBZX	Icon Bond Fund	Pair Corr
0.89	IOEZX	Icon Equity Income	Pair Corr
0.89	IOLZX	Icon Long/short Steady Growth	Pair Corr
0.89	ISTAX	Icon Long/short Steady Growth	Pair Corr
0.93	ICBAX	Icon Natural Resources Steady Growth	Pair Corr
0.93	ICBMX	Icon Natural Resources Steady Growth	Pair Corr
0.78	ICFAX	Icon Financial	Pair Corr
0.78	ICFSX	Icon Financial	Pair Corr
0.83	ICTEX	Icon Information Tec	Pair Corr
0.82	ICTTX	Icon Information Tec	Pair Corr
0.89	IEQAX	Icon Equity Income	Pair Corr
0.91	PONAX	Pimco Income	Pair Corr
0.92	PONCX	Pimco Income	Pair Corr
0.92	PIPNX	Pimco Income	Pair Corr
0.91	PONRX	Pimco Income	Pair Corr
0.92	PONPX	Pimco Incme Fund	Pair Corr
0.92	PIINX	Pimco Income	Pair Corr
0.92	PIMIX	Pimco Income	Pair Corr
0.95	LBNDX	Lord Abbett Bond	Pair Corr
0.95	FSTAX	Fidelity Advisor Str	Pair Corr
0.95	FSRIX	Fidelity Advisor Str	Pair Corr
0.84	SMPIX	Semiconductor Ultrasector	Pair Corr
0.86	SMPSX	Semiconductor Ultrasector	Pair Corr
0.94	RSNRX	Victory Global Natural	Pair Corr
0.94	RSNYX	Victory Global Natural	Pair Corr
0.94	RGNCX	Victory Global Natural	Pair Corr
0.79	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.78	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.79	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.78	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.96	PMPIX	Precious Metals Ultr	Pair Corr
0.94	VOLMX	Volumetric Fund Volu	Pair Corr
0.88	ARBCX	The Arbitrage	Pair Corr
0.94	FSLSX	Fidelity Advisor Value	Pair Corr
0.86	JGMCX	Janus Triton	Pair Corr
0.83	GSXIX	Aberdeen Small Cap	Pair Corr

Related Correlations Analysis

	SSAGX	TEPFX	GBAB	ARMZX	MGBIX	SSCVX	MWHIX	FLDFX	RSYEX	RSEGX
SSAGX		0.89	-0.11	0.99	0.82	0.89	0.94	0.92	0.75	0.75	SSAGX
TEPFX	0.89		0.08	0.91	0.77	0.87	0.85	0.89	0.66	0.66	TEPFX
GBAB	-0.11	0.08		-0.05	-0.03	-0.06	0.07	-0.02	0.18	0.18	GBAB
ARMZX	0.99	0.91	-0.05		0.8	0.93	0.93	0.94	0.76	0.76	ARMZX
MGBIX	0.82	0.77	-0.03	0.8		0.74	0.78	0.81	0.72	0.71	MGBIX
SSCVX	0.89	0.87	-0.06	0.93	0.74		0.79	0.95	0.74	0.74	SSCVX
MWHIX	0.94	0.85	0.07	0.93	0.78	0.79		0.84	0.85	0.84	MWHIX
FLDFX	0.92	0.89	-0.02	0.94	0.81	0.95	0.84		0.77	0.78	FLDFX
RSYEX	0.75	0.66	0.18	0.76	0.72	0.74	0.85	0.77		1.0	RSYEX
RSEGX	0.75	0.66	0.18	0.76	0.71	0.74	0.84	0.78	1.0		RSEGX
	SSAGX	TEPFX	GBAB	ARMZX	MGBIX	SSCVX	MWHIX	FLDFX	RSYEX	RSEGX

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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

RSEGX	+ 1.0	RSYEX
ARMZX	+ 0.99	SSAGX
FLDFX	+ 0.95	SSCVX
MWHIX	+ 0.94	SSAGX
FLDFX	+ 0.94	ARMZX
SSCVX	+ 0.93	ARMZX

High negative correlations

GBAB	- 0.11	SSAGX
SSCVX	- 0.06	GBAB
ARMZX	- 0.05	GBAB
MGBIX	- 0.03	GBAB
FLDFX	- 0.02	GBAB

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
SSAGX	0.04	0.00	0.00	(0.81)	0.00	0.00	0.10	(0.10)	0.50
TEPFX	0.04	0.01	0.00	2.41	0.00	0.00	0.10	0.00	0.21
GBAB	0.46	(0.05)	0.00	(0.09)	0.00	0.00	0.93	(1.12)	2.96
ARMZX	0.03	0.00	0.00	(0.34)	0.00	0.00	0.11	0.00	0.43
MGBIX	0.13	0.00	(0.41)	0.12	0.08	(0.16)	0.27	(0.27)	0.73
SSCVX	0.97	0.33	0.34	0.47	0.45	(1.23)	2.21	(1.45)	12.35
MWHIX	0.10	0.00	(0.52)	0.03	0.00	(0.20)	0.22	(0.22)	1.09
FLDFX	0.47	0.05	0.04	0.16	0.36	(0.56)	0.95	(0.96)	4.03
RSYEX	1.05	(0.07)	(0.05)	0.01	1.35	(1.08)	1.86	(2.17)	5.45
RSEGX	1.06	(0.08)	(0.05)	0.01	1.34	(1.08)	1.87	(2.09)	5.43

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