Icon Equity Correlations

Mutual Funds . USA . 
Fund . Icon Equity Income
IOEZX Fund  USD 16.79  0.10  0.60%   
The current 90-days correlation between Icon Equity Income and Volumetric Fund Volumetric is 0.88 (i.e., Very poor diversification). The correlation of Icon Equity 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 Equity Correlation With Market

Very poor diversification

The correlation between Icon Equity Income and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Equity Income 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 Equity Income. 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

  0.91IOBAX Icon Bond FundPairCorr
  0.92IOBZX Icon Bond FundPairCorr
  0.97IOLZX Icon Long/shortPairCorr
  0.97ISTAX Icon Long/shortPairCorr
  0.93ICBAX Icon Natural ResourcesPairCorr
  0.97ICBMX Icon Natural ResourcesPairCorr
  0.89ICFAX Icon FinancialPairCorr
  0.86ICFSX Icon FinancialPairCorr
  0.9ICTEX Icon Information TecPairCorr
  0.91ICTTX Icon Information TecPairCorr
  0.95IEQAX Icon Equity IncomePairCorr
  0.95CGRGX American Funds GrowthPairCorr
  0.95FPGGX American Funds GrowthPairCorr
  0.95FGPGX American Funds GrowthPairCorr
  0.96MUTHX Franklin Mutual SharesPairCorr
  0.94TESRX Franklin Mutual SharesPairCorr
  0.96FMSHX Franklin Mutual SharesPairCorr
  0.95GWPCX American Funds GrowthPairCorr
  0.95GWPFX American Funds GrowthPairCorr
  0.93GWPAX American Funds GrowthPairCorr
  0.93CGQGX American Funds GrowthPairCorr
  0.95FTYPX Fidelity Freedom IndexPairCorr
  0.95FFBTX Fidelity Freedom BlendPairCorr
  0.79GAAVX Gmo Alternative AlloPairCorr
  0.94GCAVX Gmo Small CapPairCorr
  0.96GQLOX Gmo Quality FundPairCorr
  0.93GHVIX Gmo High YieldPairCorr
  0.94GMCQX Gmo Equity AllocationPairCorr
  0.92APGRX Api Growth FundPairCorr
  0.95FASGX Fidelity Asset ManagerPairCorr
  0.89MKVHX Mfs Series TrustPairCorr
  0.91MUHLX Muhlenkamp Fund InstPairCorr
  0.95MSFEX Frontier Markets PorPairCorr
  0.92TWEMX Thomas White EmergingPairCorr
  0.91SJCAX Steward Large CapPairCorr
  0.92IQRIX Acr International QualityPairCorr

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 Equity 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 Equity'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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