Icon Correlations

ICON Stock

654.40 69.10 9.55%

The current 90-days correlation between Icon Group and Libra Insurance is 0.05 (i.e., Significant diversification). The correlation of Icon 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.

The ability to find closely correlated positions to Icon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Icon when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Icon - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Icon Group to buy it.

Moving together with Icon Stock

0.78	BRMG	Brimag L	Pair Corr
0.67	RLCO	Ralco Agencies	Pair Corr
0.8	ACCL	Accel Solutions Group	Pair Corr
0.63	SAFE	Safe T Group	Pair Corr
0.68	IGLD	Internet Gold Golden	Pair Corr
0.68	BTX	Lineage Cell Therapeutics	Pair Corr
0.82	APLP	Apollo Power	Pair Corr
0.73	ELTR	Electra	Pair Corr
0.74	SMNIN	Shemen Industries	Pair Corr
0.78	ECP	Electra Co Pr	Pair Corr
0.84	MORE-S8	More Mutual Funds	Pair Corr
0.67	ALBA	Al Bad Massuot	Pair Corr
0.8	ELCO	Elco	Pair Corr
0.81	FIBIH	FIBI Holdings	Pair Corr
0.75	DLTI	Delta Israel Brands	Pair Corr
0.64	BSEN	Bet Shemesh Engines	Pair Corr
0.78	ISCN	Israel Canada	Pair Corr
0.81	PRSK	Prashkovsky	Pair Corr
0.89	TEDE	Tedea Technological	Pair Corr
0.86	MVNE	Mivne Real Estate	Pair Corr
0.85	RMON	Rimon Consulting Man	Pair Corr
0.78	FVT	Ai Conversation Systems	Pair Corr
0.83	MMHD	Menora Miv Hld	Pair Corr
0.78	DANE	Danel	Pair Corr

Moving against Icon Stock

0.86	INBR	Inbar Group Finance	Pair Corr
0.66	FRSX	Foresight Autonomous	Pair Corr

Related Correlations Analysis

	IBITEC-F	HARL	LBRA	MTDS	AMOT	ABRA	CLIS
IBITEC-F		0.36	0.59	0.86	0.38	0.83	0.91	IBITEC-F
HARL	0.36		-0.1	0.18	0.88	0.16	0.32	HARL
LBRA	0.59	-0.1		0.82	-0.02	0.59	0.75	LBRA
MTDS	0.86	0.18	0.82		0.2	0.82	0.96	MTDS
AMOT	0.38	0.88	-0.02	0.2		0.21	0.35	AMOT
ABRA	0.83	0.16	0.59	0.82	0.21		0.78	ABRA
CLIS	0.91	0.32	0.75	0.96	0.35	0.78		CLIS
	IBITEC-F	HARL	LBRA	MTDS	AMOT	ABRA	CLIS

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

CLIS	+ 0.96	MTDS
CLIS	+ 0.91	IBITEC-F
AMOT	+ 0.88	HARL
MTDS	+ 0.86	IBITEC-F
ABRA	+ 0.83	IBITEC-F
MTDS	+ 0.82	LBRA

High negative correlations

LBRA	- 0.1	HARL
AMOT	- 0.02	LBRA

Risk-Adjusted Indicators

There is a big difference between Icon Stock performing well and Icon Company 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'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
IBITEC-F	1.47	0.27	0.03	(0.34)	1.64	(1.82)	3.43	(3.09)	9.90
HARL	2.31	1.15	0.59	3.64	1.07	(3.28)	6.17	(2.03)	12.40
LBRA	2.67	0.66	0.12	(0.41)	2.72	(3.42)	6.70	(5.50)	18.99
MTDS	2.10	0.88	0.30	2.48	2.13	(2.54)	4.75	(4.83)	11.32
AMOT	1.50	0.48	0.23	5.61	1.08	(1.91)	3.97	(1.72)	10.38
ABRA	2.15	0.58	0.16	(1.82)	2.01	(2.54)	4.79	(3.97)	11.49
CLIS	2.40	0.96	0.32	2.43	1.97	(2.95)	6.70	(3.37)	17.34

Be your own money manager

Our tools can tell you how much better you can do entering a position in Icon without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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