Icon Equity Correlations

IOEZX Fund

USD 18.00 0.03 0.17%

The current 90-days correlation between Icon Equity Income and Icon Bond Fund is -0.04 (i.e., Good 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

Modest diversification

The correlation between Icon Equity Income and DJI is 0.25 (i.e., Modest 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

0.87	IOBAX	Icon Bond Fund	Pair Corr
0.88	IOBZX	Icon Bond Fund	Pair Corr
0.93	IOLZX	Icon Longshort	Pair Corr
0.94	ISTAX	Icon Longshort	Pair Corr
0.81	ICBAX	Icon Natural Resources	Pair Corr
0.87	ICBMX	Icon Natural Resources	Pair Corr
0.93	ICFAX	Icon Financial	Pair Corr
0.93	ICFSX	Icon Financial	Pair Corr
0.88	ICTEX	Icon Information Tec	Pair Corr
0.88	ICTTX	Icon Information Tec	Pair Corr
1.0	IEQAX	Icon Equity Income	Pair Corr
0.7	MUTHX	Franklin Mutual Shares	Pair Corr
0.64	TESRX	Franklin Mutual Shares	Pair Corr
0.61	UOPIX	Ultra Nasdaq 100	Pair Corr
0.7	RYCCX	Nasdaq 100 2x	Pair Corr
0.73	BIPIX	Biotechnology Ultrasector	Pair Corr
0.73	DFDSX	Df Dent Small	Pair Corr
0.8	LDLVX	Lord Abbett Short	Pair Corr
0.95	HILAX	Hartford International	Pair Corr
0.88	BPTRX	Baron Partners	Pair Corr

Moving against Icon Mutual Fund

0.65	ICTVX	Icon Utilities	Pair Corr
0.65	ICTUX	Icon Utilities And	Pair Corr
0.33	INPSX	Internet Ultrasector	Pair Corr
0.32	INPIX	Internet Ultrasector	Pair Corr

Related Correlations Analysis

	IOBAX	IOBZX	IOEZX	IOLZX	ISTAX	ICBAX	ICBMX	ICFAX	ICFSX	ICTEX
IOBAX		0.96	0.87	0.9	0.9	0.69	0.85	0.9	0.9	0.91	IOBAX
IOBZX	0.96		0.88	0.9	0.88	0.69	0.86	0.87	0.9	0.88	IOBZX
IOEZX	0.87	0.88		0.93	0.94	0.81	0.87	0.93	0.93	0.88	IOEZX
IOLZX	0.9	0.9	0.93		0.97	0.89	0.98	0.97	0.99	0.95	IOLZX
ISTAX	0.9	0.88	0.94	0.97		0.85	0.94	0.99	0.97	0.98	ISTAX
ICBAX	0.69	0.69	0.81	0.89	0.85		0.88	0.85	0.87	0.81	ICBAX
ICBMX	0.85	0.86	0.87	0.98	0.94	0.88		0.93	0.96	0.93	ICBMX
ICFAX	0.9	0.87	0.93	0.97	0.99	0.85	0.93		0.97	0.97	ICFAX
ICFSX	0.9	0.9	0.93	0.99	0.97	0.87	0.96	0.97		0.95	ICFSX
ICTEX	0.91	0.88	0.88	0.95	0.98	0.81	0.93	0.97	0.95		ICTEX
	IOBAX	IOBZX	IOEZX	IOLZX	ISTAX	ICBAX	ICBMX	ICFAX	ICFSX	ICTEX

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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	0.06	0.01	(0.30)	0.44	0.00	(0.14)	0.12	(0.12)	0.47
IOBZX	0.07	0.01	(0.34)	0.34	0.00	(0.13)	0.12	(0.12)	0.35
IOEZX	0.54	0.05	0.02	0.25	0.52	(0.63)	1.32	(0.85)	2.57
IOLZX	1.00	0.15	0.16	0.16	0.82	(1.21)	1.99	(1.71)	13.05
ISTAX	1.02	0.25	0.18	(1.44)	0.82	(1.22)	1.99	(1.74)	14.17
ICBAX	1.30	0.12	0.10	0.13	1.15	(1.64)	3.34	(1.94)	11.70
ICBMX	1.26	0.08	0.07	0.10	1.21	(1.54)	3.32	(2.12)	11.48
ICFAX	0.85	0.23	0.24	(1.28)	0.46	(1.22)	1.58	(1.16)	14.10
ICFSX	0.84	0.17	0.23	0.22	0.45	(1.24)	1.65	(1.13)	13.75
ICTEX	1.35	0.49	0.29	(0.67)	0.89	(1.71)	1.85	(2.32)	30.28

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