Icon Bond Correlations

Mutual Funds USA . 
Fund . Icon Bond Fund
IOBAX Fund  USD 8.47  0.03  0.35%   
The current 90-days correlation between Icon Bond Fund and L Abbett Growth is 0.44 (i.e., Very weak diversification). The correlation of Icon Bond 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 Bond Correlation With Market

Very weak diversification

The correlation between Icon Bond Fund and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Bond 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 Bond 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 nation.

Moving together with Icon Mutual Fund

  1.0IOBZX Icon Bond FundPairCorr
  0.92IOEZX Icon Equity IncomePairCorr
  0.94IOLZX Icon Long/shortPairCorr
  0.94ISTAX Icon Long/shortPairCorr
  0.93ICBAX Icon Natural ResourcesPairCorr
  0.93ICBMX Icon Natural ResourcesPairCorr
  0.88ICFAX Icon FinancialPairCorr
  0.88ICFSX Icon FinancialPairCorr
  0.96ICTEX Icon Information TecPairCorr
  0.96ICTTX Icon Information TecPairCorr
  0.92IEQAX Icon Equity IncomePairCorr
  0.91PONAX Pimco IncomePairCorr
  0.9PONCX Pimco IncomePairCorr
  0.91PIPNX Pimco IncomePairCorr
  0.9PONRX Pimco IncomePairCorr
  0.91PONPX Pimco Incme FundPairCorr
  0.92PIINX Pimco IncomePairCorr
  0.91PIMIX Pimco IncomePairCorr
  0.98LBNDX Lord Abbett BondPairCorr
  0.98FSTAX Fidelity Advisor StrPairCorr
  0.98FSRIX Fidelity Advisor StrPairCorr
  0.8GAAKX Gmo Alternative AlloPairCorr
  0.79GAAGX Gmo Alternative AlloPairCorr
  0.77GPBFX Gmo E PlusPairCorr
  0.99LTINX Principal Lifetime 2015PairCorr
  0.98ISNHX Voya Solution 2030PairCorr
  0.91MGQAX Global Quality PortfolioPairCorr
  0.98NPSFX Nuveen Preferred SecPairCorr
  0.88RPNIX Riverpark/next CenturyPairCorr
  0.89NWKEX Nationwide Highmark SmallPairCorr
  0.97CGOAX Columbia Small CapPairCorr
  0.97VFIAX Vanguard 500 IndexPairCorr

Moving against Icon Mutual Fund

  0.41GPMFX Guidepath Managed FuturesPairCorr

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 Bond 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 Bond'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.

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