Icon Equity Correlations

IOEZX Fund

USD 18.82 0.11 0.58%

The current 90-days correlation between Icon Equity Income and Payden High Income 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 0.91 (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

0.98	IOBAX	Icon Bond Fund	Pair Corr
0.98	IOBZX	Icon Bond Fund	Pair Corr
0.93	IOLZX	Icon Long/short	Pair Corr
0.92	ISTAX	Icon Long/short	Pair Corr
0.96	ICBAX	Icon Natural Resources	Pair Corr
0.96	ICBMX	Icon Natural Resources	Pair Corr
0.82	ICFAX	Icon Financial	Pair Corr
0.82	ICFSX	Icon Financial	Pair Corr
0.84	ICTEX	Icon Information Tec	Pair Corr
0.84	ICTTX	Icon Information Tec	Pair Corr
1.0	IEQAX	Icon Equity Income	Pair Corr
0.88	GWPCX	American Funds Growth	Pair Corr
0.84	GWPFX	American Funds Growth	Pair Corr
0.87	GWPAX	American Funds Growth	Pair Corr
0.88	CGRGX	American Funds Growth	Pair Corr
0.88	FPGGX	American Funds Growth	Pair Corr
0.88	FGPGX	American Funds Growth	Pair Corr
0.95	MUTHX	Franklin Mutual Shares	Pair Corr
0.95	TESRX	Franklin Mutual Shares	Pair Corr
0.95	FMSHX	Franklin Mutual Shares	Pair Corr
0.88	CGQGX	American Funds Growth	Pair Corr
0.77	PFN	Pimco Income Strategy	Pair Corr
0.66	TDF	Templeton Dragon Closed	Pair Corr
0.94	OEMNX	Ophmr Eml Dbt	Pair Corr
0.82	GTEYX	Gateway Fund Class	Pair Corr
0.85	LEQAX	Locorr Dynamic Equity	Pair Corr
0.8	FFDKX	Fidelity Fund Class	Pair Corr
0.83	MIPTX	Matthews Pacific Tiger	Pair Corr
0.87	REINX	Invesco Real Estate	Pair Corr
0.87	IARYX	Invesco Real Estate	Pair Corr

Moving against Icon Mutual Fund

0.73	XNBHX	Neuberger Berman Int	Pair Corr
0.65	XDSMX	Dreyfus Strategic	Pair Corr
0.65	XNXJX	Nuveen New Jersey	Pair Corr
0.41	NXJ	Nuveen New Jersey	Pair Corr

Related Correlations Analysis

	NMHYX	BUIHX	TAHFX	JYHRX	DNHYX	JDHYX	PYRLX
NMHYX		0.96	0.94	0.95	0.97	0.96	0.97	NMHYX
BUIHX	0.96		0.86	0.91	0.95	0.92	0.95	BUIHX
TAHFX	0.94	0.86		0.95	0.93	0.96	0.94	TAHFX
JYHRX	0.95	0.91	0.95		0.96	0.93	0.98	JYHRX
DNHYX	0.97	0.95	0.93	0.96		0.95	0.96	DNHYX
JDHYX	0.96	0.92	0.96	0.93	0.95		0.94	JDHYX
PYRLX	0.97	0.95	0.94	0.98	0.96	0.94		PYRLX
	NMHYX	BUIHX	TAHFX	JYHRX	DNHYX	JDHYX	PYRLX

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NMHYX	0.10	0.01	(0.32)	0.13	(0.14)	0.24	(0.12)	0.60
BUIHX	0.10	0.01	(0.28)	0.74	(0.15)	0.29	(0.19)	0.77
TAHFX	0.13	0.01	(0.23)	0.20	(0.20)	0.25	(0.25)	1.11
JYHRX	0.09	0.01	(0.20)	0.20	(0.15)	0.15	(0.15)	0.31
DNHYX	0.12	0.01	(0.28)	0.16	(0.16)	0.23	(0.23)	0.70
JDHYX	0.16	0.02	(0.18)	0.18	(0.21)	0.41	(0.27)	0.95
PYRLX	0.09	0.02	(0.34)	1.16	(0.12)	0.24	(0.16)	0.55

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