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.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Icon Financial 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 state.

Moving together with Icon Mutual Fund

  0.88IOBAX Icon Bond FundPairCorr
  0.88IOBZX Icon Bond FundPairCorr
  0.89IOEZX Icon Equity IncomePairCorr
  0.95IOLZX Icon Long/shortPairCorr
  0.95ISTAX Icon Long/shortPairCorr
  0.89ICBAX Icon Natural ResourcesPairCorr
  0.89ICBMX Icon Natural ResourcesPairCorr
  0.76ICFAX Icon FinancialPairCorr
  0.96ICTEX Icon Information TecPairCorr
  0.96ICTTX Icon Information TecPairCorr
  0.89IEQAX Icon Equity IncomePairCorr
  0.63VFAIX Vanguard Financials IndexPairCorr
  0.64PRISX T Rowe PricePairCorr
  0.98FIDCX Financial IndustriesPairCorr
  0.98JFDRX Financial IndustriesPairCorr
  0.94DVFYX Davis FinancialPairCorr
  0.94RPFGX Davis FinancialPairCorr
  0.94DFFCX Davis FinancialPairCorr
  0.71BTMPX Ishares Msci EafePairCorr
  0.71BTMKX Blackrock InternationalPairCorr
  0.71MDIIX Blackrock Intern IndexPairCorr
  0.93VFINX Vanguard 500 IndexPairCorr
  0.64BSPSX Blackrock Sp 500PairCorr
  0.73PYSIX Payden Strategic IncomePairCorr
  0.66NTDSX Nationwide DestinationPairCorr
  0.63AMFCX American MutualPairCorr

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.