Icon Long/short Correlations

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.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios. 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

0.63	TRQZX	T Rowe Price	Pair Corr
0.63	RPMGX	T Rowe Price	Pair Corr
0.69	PRJIX	T Rowe Price	Pair Corr
0.67	PRNHX	T Rowe Price	Pair Corr
0.69	TRUZX	T Rowe Price	Pair Corr
0.61	PMBCX	Midcap Fund Class	Pair Corr
0.62	VTSMX	Vanguard Total Stock	Pair Corr
0.62	VFIAX	Vanguard 500 Index	Pair Corr
0.69	SCRYX	Small Cap Core	Pair Corr
0.71	SMERX	Invesco Small Cap	Pair Corr
0.66	LTFOX	Lord Abbett Affiliated	Pair Corr
0.62	VFINX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	BPLEX	DIAMX	JMNAX	CVSIX	COAGX
BPLEX		0.07	0.73	0.87	0.82	BPLEX
DIAMX	0.07		-0.29	-0.1	-0.25	DIAMX
JMNAX	0.73	-0.29		0.92	0.89	JMNAX
CVSIX	0.87	-0.1	0.92		0.85	CVSIX
COAGX	0.82	-0.25	0.89	0.85		COAGX
	BPLEX	DIAMX	JMNAX	CVSIX	COAGX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

CVSIX	+ 0.92	JMNAX
COAGX	+ 0.89	JMNAX
CVSIX	+ 0.87	BPLEX
COAGX	+ 0.85	CVSIX
COAGX	+ 0.82	BPLEX
JMNAX	+ 0.73	BPLEX

High negative correlations

JMNAX	- 0.29	DIAMX
COAGX	- 0.25	DIAMX
CVSIX	- 0.1	DIAMX

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
BPLEX	0.44	0.06	(0.11)	2.26	0.35	(0.55)	0.92	(0.81)	2.47
DIAMX	0.33	(0.08)	0.00	(0.07)	0.00	0.00	0.73	(0.74)	2.23
JMNAX	0.15	0.06	(0.45)	(3.40)	0.00	(0.21)	0.40	(0.20)	0.86
CVSIX	0.08	0.02	(0.89)	(0.82)	0.00	(0.13)	0.20	(0.13)	0.53
COAGX	0.82	0.28	0.18	(5.96)	0.44	(0.99)	1.72	(1.33)	9.83

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Icon Long/short Correlations

Moving together with Icon Mutual Fund

Related Correlations Analysis

Correlation Matchups

Risk-Adjusted Indicators

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