Icon Natural Correlations

Mutual Funds . USA . 
Fund . Icon Natural Resources
ICBAX Fund  USD 17.38  0.30  1.76%   
The current 90-days correlation between Icon Natural Resources and Icon Financial Fund is -0.08 (i.e., Good diversification). The correlation of Icon Natural 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 Natural Correlation With Market

Good diversification

The correlation between Icon Natural Resources and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Natural Resources 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 Natural Resources. 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

  0.93IOBAX Icon Bond FundPairCorr
  0.93IOBZX Icon Bond FundPairCorr
  0.93IOEZX Icon Equity IncomePairCorr
  0.95IOLZX Icon Long/shortPairCorr
  0.95ISTAX Icon Long/shortPairCorr
  0.97ICBMX Icon Natural ResourcesPairCorr
  0.86ICFAX Icon FinancialPairCorr
  0.89ICFSX Icon FinancialPairCorr
  0.93ICTEX Icon Information TecPairCorr
  0.9ICTTX Icon Information TecPairCorr
  0.97IEQAX Icon Equity IncomePairCorr
  0.95TRNEX T Rowe PricePairCorr
  0.95VMIAX Vanguard Materials IndexPairCorr
  0.94PRNEX T Rowe PricePairCorr
  0.95GEACX Gmo TrustPairCorr
  0.95GAAHX Gmo ResourcesPairCorr
  0.95GMOWX Gmo ResourcesPairCorr
  0.91GHAIX Global Hard AssetsPairCorr
  0.96FMFEX Materials PortfolioPairCorr
  0.96FMFAX Materials PortfolioPairCorr
  0.93FMFCX Materials PortfolioPairCorr
  0.96CPAYX Columbia Pacific/asiaPairCorr
  0.95CASAX Columbia Pacific/asiaPairCorr
  0.95CASCX Columbia PacificasiaPairCorr
  0.93MSKLX Mid Cap GrowthPairCorr
  0.93CISGX Touchstone Sands CapitalPairCorr
  0.95MPEGX Mid Cap GrowthPairCorr
  0.95SWEGX Schwab Markettrack AllPairCorr
  0.86MMUJX Mfs UtilitiesPairCorr
  0.95GGCCX Gabelli GrowthPairCorr
  0.95MIMSX Bny Mellon MidPairCorr
  0.94HSIIX Eagle Small CapPairCorr
  0.95FAQTX American Funds 2035PairCorr
  0.93SITEX Sit Emerging MarketsPairCorr
  0.94URFRX Target Retirement 2040PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Natural 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 Natural'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.

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