Icon Information Correlations

Mutual Funds . USA . 
Fund . Icon Information Technology
ICTTX Fund  USD 14.51  0.20  1.36%   
The current 90-days correlation between Icon Information Tec and Rational Defensive Growth is -0.29 (i.e., Very good diversification). The correlation of Icon Information 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 Information Correlation With Market

Very poor diversification

The correlation between Icon Information Technology 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 Information Technology 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 Information Technology. 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 estimate.

Moving together with Icon Mutual Fund

  0.7VVPR VivoPower InternationalPairCorr
  0.89DBD Diebold Nixdorf,PairCorr
  0.63OUSTZ Ouster, WarrantsPairCorr
  0.75CYCUW Cycurion, Warrant Symbol ChangePairCorr
  0.79BULLW Webull WarrantsPairCorr
  0.75MIND Mind TechnologyPairCorr
  0.9HPE-PC Hewlett Packard EntePairCorr
  0.91CORZZ Core Scientific, TranchePairCorr
  0.81RZLVW Rezolve AI LimitedPairCorr
  0.79SATX SatixFy CommunicationsPairCorr
  0.83STRF MicroStrategy IncorporatedPairCorr
  0.96IOBAX Icon Bond FundPairCorr
  0.96IOBZX Icon Bond FundPairCorr
  0.93IOEZX Icon Equity IncomePairCorr

Moving against Icon Mutual Fund

  0.82HPAIW Helport AI LimitedPairCorr
  0.81VSTE Vast RenewablesPairCorr
  0.81NOVA Sunnova Energy InterPairCorr
  0.78VISL Vislink TechnologiesPairCorr
  0.61EXOD Exodus Movement,PairCorr
  0.55APCXW AppTech Payments CorpPairCorr
  0.49ODYS Odysightai Common StockPairCorr
  0.39VBIX Viewbix Common StockPairCorr
  0.31MRIN Marin Software Tech BoostPairCorr
  0.88SMTK SmartKem, Common StockPairCorr
  0.7APCX Apptech CorpPairCorr
  0.64SLNHP Soluna Holdings PreferredPairCorr

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 Information 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 Information'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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
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