Icon Utilities Fund Market Value
| ICTVX Fund | USD 9.78 0.06 0.62% |
| Symbol | Icon |
Icon Utilities 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Icon Utilities' mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Icon Utilities.
| 09/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Icon Utilities on September 27, 2024 and sell it all today you would earn a total of 0.00 from holding Icon Utilities Fund or generate 0.0% return on investment in Icon Utilities over 60 days. Icon Utilities is related to or competes with Icon Utilities, Utilities Fund, Wells Fargo, Fidelity Advisor, and Icon Information. The fund normally invests at least 80 percent of its net assets, plus any borrowings for investment purposes, in equity ... More
Icon Utilities Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Icon Utilities' mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Icon Utilities Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7307 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 2.96 | |||
| Value At Risk | (1.26) | |||
| Potential Upside | 1.18 |
Icon Utilities Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Icon Utilities' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Icon Utilities' standard deviation. In reality, there are many statistical measures that can use Icon Utilities historical prices to predict the future Icon Utilities' volatility.| Risk Adjusted Performance | 0.122 | |||
| Jensen Alpha | 0.0933 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 1.63 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Icon Utilities' price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Icon Utilities Backtested Returns
At this stage we consider Icon Mutual Fund to be very steady. Icon Utilities holds Efficiency (Sharpe) Ratio of 0.17, which attests that the entity had a 0.17% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Icon Utilities, which you can use to evaluate the volatility of the entity. Please check out Icon Utilities' Risk Adjusted Performance of 0.122, downside deviation of 0.7307, and Market Risk Adjusted Performance of 1.64 to validate if the risk estimate we provide is consistent with the expected return of 0.12%. The fund retains a Market Volatility (i.e., Beta) of 0.0617, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Icon Utilities' returns are expected to increase less than the market. However, during the bear market, the loss of holding Icon Utilities is expected to be smaller as well.
Auto-correlation | 0.47 |
Average predictability
Icon Utilities Fund has average predictability. Overlapping area represents the amount of predictability between Icon Utilities time series from 27th of September 2024 to 27th of October 2024 and 27th of October 2024 to 26th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Icon Utilities price movement. The serial correlation of 0.47 indicates that about 47.0% of current Icon Utilities price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.47 | |
| Spearman Rank Test | 0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Icon Utilities lagged returns against current returns
Autocorrelation, which is Icon Utilities mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Icon Utilities' mutual fund expected returns. We can calculate the autocorrelation of Icon Utilities returns to help us make a trade decision. For example, suppose you find that Icon Utilities has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Icon Utilities regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Icon Utilities mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Icon Utilities mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Icon Utilities mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Icon Utilities Lagged Returns
When evaluating Icon Utilities' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Icon Utilities mutual fund have on its future price. Icon Utilities autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Icon Utilities autocorrelation shows the relationship between Icon Utilities mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Icon Utilities Fund.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Icon Mutual Fund
Icon Utilities financial ratios help investors to determine whether Icon Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Icon with respect to the benefits of owning Icon Utilities security.
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