Icon Equity Correlations

Mutual Funds . USA . 
Fund . Icon Equity Income
IOEZX Fund  USD 18.80  0.13  0.70%   
The current 90-days correlation between Icon Equity Income and Harding Loevner Global is 0.06 (i.e., Significant 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

Almost no diversification

The correlation between Icon Equity Income and DJI is 0.93 (i.e., Almost no 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

  0.98IOBAX Icon Bond FundPairCorr
  0.98IOBZX Icon Bond FundPairCorr
  0.93IOLZX Icon Long/shortPairCorr
  0.92ISTAX Icon Long/shortPairCorr
  0.96ICBAX Icon Natural ResourcesPairCorr
  0.96ICBMX Icon Natural ResourcesPairCorr
  0.84ICFAX Icon FinancialPairCorr
  0.84ICFSX Icon FinancialPairCorr
  0.85ICTEX Icon Information TecPairCorr
  0.85ICTTX Icon Information TecPairCorr
  1.0IEQAX Icon Equity IncomePairCorr
  0.87GWPCX American Funds GrowthPairCorr
  0.83GWPFX American Funds GrowthPairCorr
  0.86GWPAX American Funds GrowthPairCorr
  0.87CGRGX American Funds GrowthPairCorr
  0.87FPGGX American Funds GrowthPairCorr
  0.87FGPGX American Funds GrowthPairCorr
  0.95MUTHX Franklin Mutual SharesPairCorr
  0.95TESRX Franklin Mutual SharesPairCorr
  0.95FMSHX Franklin Mutual SharesPairCorr
  0.87CGQGX American Funds GrowthPairCorr
  0.84CII Blackrock EnhancedPairCorr
  0.77ETV Eaton Vance TaxPairCorr
  0.94CLM Cornerstone StrategicPairCorr
  0.91CRF Cornerstone Total ReturnPairCorr
  0.82USA Liberty All StarPairCorr
  0.93NFJ Virtus Dividend InterestPairCorr
  0.66HYMOX Lord Abbett HighPairCorr
  0.88AGVDX American Funds GlobalPairCorr
  0.88RAMTX American Funds 2055PairCorr
  0.66UTVNX My529 Short TermPairCorr
  0.95FCSRX Fidelity Strategic RealPairCorr
  0.93SICIX Saat Servative StrategyPairCorr

Moving against Icon Mutual Fund

  0.76IFN India ClosedPairCorr
  0.63IIF Morgan Stanley IndiaPairCorr

Related Correlations Analysis


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.

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