Icon Long/short Correlations

IOLZX Fund

USD 30.72 0.01 0.03%

The current 90-days correlation between Icon Long/short and American Mutual Fund is 0.02 (i.e., Significant 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

Almost no diversification

The correlation between Icon Longshort Fund and DJI is 0.93 (i.e., Almost no 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

0.92	IOBAX	Icon Bond Fund	Pair Corr
0.9	IOBZX	Icon Bond Fund	Pair Corr
0.9	IOEZX	Icon Equity Income	Pair Corr
1.0	ISTAX	Icon Long/short	Pair Corr
0.98	ICBAX	Icon Natural Resources	Pair Corr
0.98	ICBMX	Icon Natural Resources	Pair Corr
0.92	ICFAX	Icon Financial	Pair Corr
0.92	ICFSX	Icon Financial	Pair Corr
0.95	ICTEX	Icon Information Tec	Pair Corr
0.94	ICTTX	Icon Information Tec	Pair Corr
0.9	IEQAX	Icon Equity Income	Pair Corr
0.92	VIMAX	Vanguard Mid Cap	Pair Corr
0.92	VIMSX	Vanguard Mid Cap	Pair Corr
0.92	VMCPX	Vanguard Mid Cap	Pair Corr
0.92	VMCIX	Vanguard Mid Cap	Pair Corr
0.86	VEXAX	Vanguard Extended Market	Pair Corr
0.86	VEMPX	Vanguard Extended Market	Pair Corr
0.86	VIEIX	Vanguard Extended Market	Pair Corr
0.94	VSEMX	Vanguard Extended Market	Pair Corr
0.86	VEXMX	Vanguard Extended Market	Pair Corr
0.94	FSMDX	Fidelity Mid Cap	Pair Corr
0.81	PDI	Pimco Dynamic Income	Pair Corr
0.93	VSMAX	Vanguard Small Cap	Pair Corr
0.9	MSTMX	Morningstar Multisector	Pair Corr
0.85	RHFTX	American Funds 2035	Pair Corr
0.86	CEUFX	Europacific Growth	Pair Corr
0.88	FCFFX	Fidelity Advisor Freedom	Pair Corr
0.91	MQLKX	Mfs Limited Maturity	Pair Corr
0.93	TMCJX	Touchstone Mid Cap	Pair Corr

Moving against Icon Mutual Fund

0.95	UIPIX	Ultrashort Mid Cap	Pair Corr
0.78	TCTGX	Transamerica Cleartrack	Pair Corr
0.78	TDKTX	Cleartrack 2015 Class	Pair Corr
0.78	TCTJX	Transamerica Cleartrack	Pair Corr
0.77	TCSUX	Cleartrack 2020 Class	Pair Corr
0.68	CESGX	Coho Relative Value	Pair Corr
0.33	USPSX	Profunds Ultrashort	Pair Corr
0.31	USPIX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	LMTIX	LAAFX	TWQZX	HNLVX	AMONX	PCLVX	AMFFX
LMTIX		0.88	0.91	0.91	0.92	0.94	0.77	LMTIX
LAAFX	0.88		0.93	0.85	0.83	0.89	0.88	LAAFX
TWQZX	0.91	0.93		0.93	0.92	0.96	0.91	TWQZX
HNLVX	0.91	0.85	0.93		0.97	0.95	0.81	HNLVX
AMONX	0.92	0.83	0.92	0.97		0.95	0.77	AMONX
PCLVX	0.94	0.89	0.96	0.95	0.95		0.82	PCLVX
AMFFX	0.77	0.88	0.91	0.81	0.77	0.82		AMFFX
	LMTIX	LAAFX	TWQZX	HNLVX	AMONX	PCLVX	AMFFX

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
LMTIX	0.63	0.02	0.01	0.07	0.78	(0.64)	1.15	(1.58)	4.94
LAAFX	0.63	0.17	0.23	0.26	0.39	(0.75)	1.25	(1.07)	7.55
TWQZX	0.60	0.16	0.17	2.57	0.50	(0.72)	1.31	(1.21)	3.68
HNLVX	1.02	0.42	0.59	0.50	0.00	(1.22)	1.29	(0.97)	26.68
AMONX	1.26	0.50	0.40	9.50	0.49	(1.71)	1.42	(1.85)	33.19
PCLVX	0.74	0.30	0.41	0.58	0.00	(0.93)	1.35	(1.05)	13.58
AMFFX	0.48	0.08	0.05	(1.32)	0.56	(0.49)	0.87	(1.02)	3.18

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