Icon Financial Correlations
ICFSX Fund | USD 9.73 0.08 0.83% |
The current 90-days correlation between Icon Financial and Icon Bond Fund is 0.49 (i.e., Very weak diversification). The correlation of Icon Financial 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 Financial Correlation With Market
Very poor diversification
The correlation between Icon Financial Fund and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Financial Fund and DJI in the same portfolio, assuming nothing else is changed.
Icon |
Moving together with Icon Mutual Fund
0.88 | IOBAX | Icon Bond Fund | PairCorr |
0.88 | IOBZX | Icon Bond Fund | PairCorr |
0.89 | IOEZX | Icon Equity Income | PairCorr |
0.95 | IOLZX | Icon Long/short | PairCorr |
0.95 | ISTAX | Icon Long/short | PairCorr |
0.89 | ICBAX | Icon Natural Resources | PairCorr |
0.89 | ICBMX | Icon Natural Resources | PairCorr |
0.76 | ICFAX | Icon Financial | PairCorr |
0.96 | ICTEX | Icon Information Tec | PairCorr |
0.96 | ICTTX | Icon Information Tec | PairCorr |
0.89 | IEQAX | Icon Equity Income | PairCorr |
0.63 | VFAIX | Vanguard Financials Index | PairCorr |
0.64 | PRISX | T Rowe Price | PairCorr |
0.98 | FIDCX | Financial Industries | PairCorr |
0.98 | JFDRX | Financial Industries | PairCorr |
0.94 | DVFYX | Davis Financial | PairCorr |
0.94 | RPFGX | Davis Financial | PairCorr |
0.94 | DFFCX | Davis Financial | PairCorr |
0.71 | BTMPX | Ishares Msci Eafe | PairCorr |
0.71 | BTMKX | Blackrock International | PairCorr |
0.71 | MDIIX | Blackrock Intern Index | PairCorr |
0.93 | VFINX | Vanguard 500 Index | PairCorr |
0.64 | BSPSX | Blackrock Sp 500 | PairCorr |
0.73 | PYSIX | Payden Strategic Income | PairCorr |
0.66 | NTDSX | Nationwide Destination | PairCorr |
0.63 | AMFCX | American Mutual | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Icon Mutual Fund performing well and Icon Financial 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 Financial'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
IOBAX | 0.10 | 0.02 | (0.46) | 0.44 | 0.00 | 0.24 | 0.72 | |||
IOBZX | 0.09 | 0.02 | (0.47) | 0.44 | 0.00 | 0.24 | 0.71 | |||
IOEZX | 0.65 | 0.04 | 0.01 | 0.18 | 0.59 | 1.73 | 4.17 | |||
IOLZX | 0.88 | 0.14 | 0.15 | 0.26 | 0.72 | 2.21 | 6.71 | |||
ISTAX | 0.88 | 0.14 | 0.15 | 0.26 | 0.72 | 2.24 | 6.71 | |||
ICBAX | 0.93 | 0.12 | 0.10 | 0.26 | 0.80 | 2.15 | 5.13 | |||
ICBMX | 0.94 | 0.12 | 0.10 | 0.26 | 0.81 | 2.11 | 5.15 | |||
ICFSX | 0.80 | 0.05 | 0.04 | 0.18 | 0.82 | 2.14 | 5.60 | |||
ICTEX | 0.90 | 0.12 | 0.12 | 0.24 | 0.75 | 2.48 | 5.89 |