Icon Long/short Correlations

IOLZX Fund

USD 27.62 0.14 0.50%

The current 90-days correlation between Icon Long/short and Technology Ultrasector Profund is 0.23 (i.e., Modest diversification). The correlation of Icon Long/short 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 Long/short Correlation With Market

Modest diversification

The correlation between Icon Longshort Fund and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Longshort Fund 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 Longshort Fund. 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

0.86	IOEZX	Icon Equity Income	Pair Corr
1.0	ISTAX	Icon Long/short	Pair Corr
0.93	ICBAX	Icon Natural Resources	Pair Corr
0.97	ICBMX	Icon Natural Resources	Pair Corr
0.95	ICFAX	Icon Financial	Pair Corr
0.95	ICFSX	Icon Financial	Pair Corr
0.87	ICTEX	Icon Information Tec	Pair Corr
0.89	ICTTX	Icon Information Tec	Pair Corr
0.72	ICTVX	Icon Utilities	Pair Corr
0.71	ICTUX	Icon Utilities And	Pair Corr
0.86	IEQAX	Icon Equity Income	Pair Corr
0.68	DOXBX	Dodge Cox Balanced	Pair Corr

Moving against Icon Mutual Fund

0.49	IOBAX	Icon Bond Fund	Pair Corr
0.45	IOBZX	Icon Bond Fund	Pair Corr
0.68	GPICX	Guidepath Conservative	Pair Corr
0.66	DFFGX	Dfa Short Term	Pair Corr

Related Correlations Analysis

	TEPIX	USTCX	TEFQX	BSTSX	ITYYX	ROGSX
TEPIX		0.25	0.37	0.63	0.72	0.79	TEPIX
USTCX	0.25		0.91	0.69	0.35	0.63	USTCX
TEFQX	0.37	0.91		0.68	0.47	0.68	TEFQX
BSTSX	0.63	0.69	0.68		0.73	0.72	BSTSX
ITYYX	0.72	0.35	0.47	0.73		0.54	ITYYX
ROGSX	0.79	0.63	0.68	0.72	0.54		ROGSX
	TEPIX	USTCX	TEFQX	BSTSX	ITYYX	ROGSX

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Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Long/short 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 Long/short'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
TEPIX	1.71	(0.18)	0.00	(0.14)	0.00	0.00	2.94	(4.74)	14.99
USTCX	1.19	0.08	0.03	0.24	1.51	(1.20)	2.71	(2.89)	7.48
TEFQX	1.36	0.11	0.04	0.28	1.81	(1.42)	2.95	(3.10)	8.29
BSTSX	1.26	(0.01)	(0.03)	0.06	2.06	(1.22)	2.40	(3.58)	9.07
ITYYX	1.39	(0.07)	(0.03)	0.00	2.67	(1.22)	2.50	(2.91)	12.95
ROGSX	1.06	0.00	(0.03)	0.08	1.72	(1.01)	1.70	(3.18)	8.31

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