Icon Equity Correlations

IOEZX Fund

USD 17.38 0.09 0.52%

The current 90-days correlation between Icon Equity Income and Icon Bond Fund is 0.1 (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

Poor diversification

The correlation between Icon Equity Income and DJI is 0.78 (i.e., 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

0.61	IOBZX	Icon Bond Fund	Pair Corr
0.79	IOLZX	Icon Long/short	Pair Corr
0.79	ISTAX	Icon Long/short	Pair Corr
0.87	ICBAX	Icon Natural Resources	Pair Corr
0.87	ICBMX	Icon Natural Resources	Pair Corr
0.84	ICFAX	Icon Financial	Pair Corr
0.84	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
0.81	CGRGX	American Funds Growth	Pair Corr
0.81	FPGGX	American Funds Growth	Pair Corr
0.81	FGPGX	American Funds Growth	Pair Corr
0.85	MUTHX	Franklin Mutual Shares	Pair Corr
0.85	TESRX	Franklin Mutual Shares	Pair Corr
0.85	FMSHX	Franklin Mutual Shares	Pair Corr
0.81	GWPCX	American Funds Growth	Pair Corr
0.81	GWPFX	American Funds Growth	Pair Corr
0.81	GWPAX	American Funds Growth	Pair Corr
0.81	CGQGX	American Funds Growth	Pair Corr
0.82	FTYPX	Fidelity Freedom Index	Pair Corr
0.81	FFBTX	Fidelity Freedom Blend	Pair Corr
0.85	GCAVX	Gmo Small Cap	Pair Corr
0.78	GQLOX	Gmo Quality Fund	Pair Corr
0.7	GHVIX	Gmo High Yield	Pair Corr
0.83	GMCQX	Gmo Equity Allocation	Pair Corr
0.78	VFIAX	Vanguard 500 Index	Pair Corr
0.78	VFINX	Vanguard 500 Index	Pair Corr
0.89	SCRYX	Small Cap Core	Pair Corr
0.71	VIGAX	Vanguard Growth Index	Pair Corr
0.76	LLPFX	Longleaf Partners	Pair Corr
0.68	FEMDX	Franklin Emerging Market	Pair Corr
0.81	FBALX	Fidelity Balanced	Pair Corr

Moving against Icon Mutual Fund

0.5

GABFX

Gmo Asset Allocation

Pair Corr

Related Correlations Analysis

	IOBAX	IOBZX	IOLZX	ISTAX	ICBAX	ICBMX	ICFAX	ICFSX	ICTEX
IOBAX		0.99	0.54	0.54	0.61	0.61	0.58	0.58	0.49	IOBAX
IOBZX	0.99		0.57	0.57	0.62	0.63	0.61	0.61	0.5	IOBZX
IOLZX	0.54	0.57		1.0	0.91	0.92	0.93	0.93	0.74	IOLZX
ISTAX	0.54	0.57	1.0		0.91	0.92	0.93	0.93	0.74	ISTAX
ICBAX	0.61	0.62	0.91	0.91		1.0	0.93	0.93	0.81	ICBAX
ICBMX	0.61	0.63	0.92	0.92	1.0		0.93	0.93	0.81	ICBMX
ICFAX	0.58	0.61	0.93	0.93	0.93	0.93		1.0	0.78	ICFAX
ICFSX	0.58	0.61	0.93	0.93	0.93	0.93	1.0		0.78	ICFSX
ICTEX	0.49	0.5	0.74	0.74	0.81	0.81	0.78	0.78		ICTEX
	IOBAX	IOBZX	IOLZX	ISTAX	ICBAX	ICBMX	ICFAX	ICFSX	ICTEX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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	0.08	0.01	(0.74)	1.14	0.00	(0.14)	0.23	(0.12)	0.47
IOBZX	0.09	0.01	(0.66)	0.85	0.00	(0.13)	0.23	(0.23)	0.46
IOLZX	0.84	0.04	0.11	0.15	0.54	(1.09)	1.60	(1.10)	7.13
ISTAX	0.83	0.04	0.11	0.15	0.54	(1.05)	1.61	(1.14)	7.19
ICBAX	0.81	0.01	0.05	0.13	0.67	(0.93)	1.94	(1.24)	6.37
ICBMX	0.81	0.02	0.05	0.13	0.68	(0.93)	1.91	(1.27)	6.36
ICFAX	0.72	(0.01)	0.00	0.11	0.75	(0.88)	1.45	(1.21)	5.10
ICFSX	0.73	(0.01)	0.00	0.11	0.75	(0.90)	1.50	(1.25)	5.12
ICTEX	0.74	(0.07)	(0.07)	0.05	0.92	(0.82)	1.31	(1.83)	4.33

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC