Intrepid Income Correlations

Mutual Funds . USA . 
Fund . Intrepid Income Fund
ICMUX Fund  USD 9.02  0.02  0.22%   
The current 90-days correlation between Intrepid Income and Intrepid Capital Fund is 0.6 (i.e., Poor diversification). The correlation of Intrepid Income 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.

Intrepid Income Correlation With Market

Good diversification

The correlation between Intrepid Income Fund and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intrepid Income 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 Intrepid Income 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 employment.

Moving together with Intrepid Mutual Fund

  0.98ICMVX Intrepid CapitalPairCorr
  0.97ICMBX Intrepid CapitalPairCorr
  0.89PONAX Pimco IncomePairCorr
  0.88PONCX Pimco IncomePairCorr
  0.89PIPNX Pimco IncomePairCorr
  0.88PONRX Pimco IncomePairCorr
  0.89PONPX Pimco Incme FundPairCorr
  0.89PIINX Pimco IncomePairCorr
  0.89PIMIX Pimco IncomePairCorr
  0.98LBNDX Lord Abbett BondPairCorr
  0.98FSTAX Fidelity Advisor StrPairCorr
  0.97FSRIX Fidelity Advisor StrPairCorr
  0.94FSMMX Fs Multi StrategyPairCorr
  0.94BTMPX Ishares Msci EafePairCorr
  0.94BTMKX Blackrock InternationalPairCorr
  0.93MDIIX Blackrock Intern IndexPairCorr
  0.73SPMPX Invesco Steelpath MlpPairCorr
  0.66MLPNX Oppenheimer Steelpath MlpPairCorr
  0.63MLPMX Oppenheimer Steelpath MlpPairCorr
  0.71SPMJX Invesco Steelpath MlpPairCorr
  0.98JWGRX Janus Global ResearchPairCorr
  0.97USPCX Union Street PartnersPairCorr
  0.94PUDZX Prudential Real AssetsPairCorr
  0.97OYCIX Oppenhemier CnsrvtvPairCorr
  0.78PFOCX Pimco Foreign BondPairCorr
  0.97OYMIX Oppenheimer ModeratePairCorr
  0.98RNWFX New World FundPairCorr
  0.96REEIX Rbc Emerging MarketsPairCorr
  0.99CFIGX Columbia Flexible CapitalPairCorr
  0.99HRNIX Hood River NewPairCorr
  0.97OMCIX Oberweis Micro CapPairCorr
  0.68WGEXX Wilmington FundsPairCorr
  0.92FOSPX Short Intermediate BondPairCorr
  0.85JARSX James Alpha GlobalPairCorr
  0.93PXSAX Pax Small CapPairCorr
  0.99TCRRX T Rowe PricePairCorr
  0.98FPURX Fidelity PuritanPairCorr
  0.82BCIYX California Intermediate-terPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Intrepid Mutual Fund performing well and Intrepid Income 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 Intrepid Income'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ICMVX  0.39  0.15  0.00 (1.38) 0.19 
(0.47)
 1.06 
(0.91)
 2.59 
ICMUX  0.11  0.06 (0.44)(3.50) 0.00 
(0.18)
 0.23 
(0.11)
 0.81 
ICMBX  0.38  0.08  0.01  0.31  0.20 
(0.44)
 1.03 
(0.86)
 2.52 
PDVYX  0.15  0.04 (0.44)(5.21) 0.00 
(0.25)
 0.41 
(0.21)
 0.62 
FAFOX  0.13  0.00 (0.60) 0.22  0.14 
(0.21)
 0.31 
(0.21)
 0.93 
FCENX  0.56  0.09  0.01  0.35  0.51 
(0.62)
 1.23 
(1.16)
 3.32 
BWLAX  0.68  0.19  0.04 (1.10) 0.63 
(0.74)
 1.87 
(1.18)
 4.73 
NBPBX  0.48  0.05 (0.01) 0.21  0.43 
(0.53)
 1.16 
(0.76)
 3.78 
HMCNX  0.74  0.03  0.03  0.17  0.68 
(0.85)
 2.06 
(1.45)
 5.81 
PLIBX  0.52  0.18  0.04 (1.78) 0.43 
(0.58)
 1.30 
(1.21)
 3.45 

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