Icon Equity Correlations

IOEZX Fund

USD 20.16 0.04 0.20%

The current 90-days correlation between Icon Equity Income and Icon Information Technology is 0.14 (i.e., Average 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

Very poor diversification

The correlation between Icon Equity Income and DJI is 0.86 (i.e., Very poor 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

0.96	IOBAX	Icon Bond Fund	Pair Corr
0.96	IOBZX	Icon Bond Fund	Pair Corr
0.9	IOLZX	Icon Long/short	Pair Corr
0.62	ISTAX	Icon Long/short	Pair Corr
0.95	ICBAX	Icon Natural Resources	Pair Corr
0.95	ICBMX	Icon Natural Resources	Pair Corr
0.66	ICFAX	Icon Financial	Pair Corr
0.67	ICFSX	Icon Financial	Pair Corr
0.72	ICTEX	Icon Information Tec	Pair Corr
0.72	ICTTX	Icon Information Tec	Pair Corr
0.68	ICTUX	Icon Utilities And	Pair Corr
0.62	GWPFX	American Funds Growth	Pair Corr
0.65	GWPAX	American Funds Growth	Pair Corr
0.93	MUTHX	Franklin Mutual Shares	Pair Corr
0.91	FMSHX	Franklin Mutual Shares	Pair Corr
0.67	VSTSX	Vanguard Total Stock	Pair Corr
0.64	VSMPX	Vanguard Total Stock	Pair Corr
0.64	VITSX	Vanguard Total Stock	Pair Corr
0.64	VFFSX	Vanguard 500 Index	Pair Corr
0.61	VFIAX	Vanguard 500 Index	Pair Corr
0.67	VTSAX	Vanguard Total Stock	Pair Corr
0.97	VTSNX	Vanguard Total Inter	Pair Corr
0.97	VTISX	Vanguard Total Inter	Pair Corr
0.97	VTPSX	Vanguard Total Inter	Pair Corr
0.61	VINIX	Vanguard Institutional	Pair Corr
0.77	GCFCX	Goldman Sachs E	Pair Corr
0.92	BRKBX	Mfs Blended Research	Pair Corr
0.81	LBHIX	Thrivent High Yield	Pair Corr
0.98	VTRIX	Vanguard International	Pair Corr

Related Correlations Analysis

	IOBAX	IOBZX	IOLZX	ISTAX	ICBAX	ICBMX	ICFAX	ICFSX	ICTEX
IOBAX		1.0	0.92	0.58	0.97	0.97	0.71	0.72	0.78	IOBAX
IOBZX	1.0		0.9	0.57	0.96	0.96	0.68	0.69	0.76	IOBZX
IOLZX	0.92	0.9		0.53	0.96	0.98	0.89	0.92	0.91	IOLZX
ISTAX	0.58	0.57	0.53		0.56	0.57	0.32	0.36	0.35	ISTAX
ICBAX	0.97	0.96	0.96	0.56		0.98	0.82	0.81	0.89	ICBAX
ICBMX	0.97	0.96	0.98	0.57	0.98		0.8	0.83	0.86	ICBMX
ICFAX	0.71	0.68	0.89	0.32	0.82	0.8		0.96	0.96	ICFAX
ICFSX	0.72	0.69	0.92	0.36	0.81	0.83	0.96		0.92	ICFSX
ICTEX	0.78	0.76	0.91	0.35	0.89	0.86	0.96	0.92		ICTEX
	IOBAX	IOBZX	IOLZX	ISTAX	ICBAX	ICBMX	ICFAX	ICFSX	ICTEX

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
IOBAX	0.07	0.02	(0.13)	3.49	0.00	(0.14)	0.12	(0.12)	0.36
IOBZX	0.07	0.02	(0.12)	1.96	0.00	(0.13)	0.12	(0.12)	0.36
IOLZX	1.13	0.39	0.31	(1.62)	0.70	(1.32)	2.29	(1.83)	13.91
ISTAX	1.13	0.51	0.51	0.45	0.26	(1.39)	2.27	(1.46)	14.99
ICBAX	1.19	0.37	0.32	0.33	0.73	(1.43)	2.82	(1.76)	12.87
ICBMX	1.18	0.41	0.31	(4.79)	0.74	(1.42)	2.83	(1.79)	12.60
ICFAX	0.89	0.21	0.28	0.25	0.36	(1.26)	1.66	(0.98)	14.63
ICFSX	0.88	0.26	0.27	(1.23)	0.40	(1.24)	1.70	(1.05)	14.29
ICTEX	1.46	0.45	0.35	0.33	0.84	(1.87)	1.90	(2.01)	31.49

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Icon Equity Correlations

Icon Equity Correlation With Market

Very poor diversification

Moving together with Icon Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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