Icon Long/short Correlations

Mutual Funds . USA . 
Fund . Icon Longshort Fund
ISTAX Fund  USD 25.83  0.01  0.04%   
The current 90-days correlation between Icon Long/short and Boston Partners Longshort is 0.06 (i.e., Significant diversification). The correlation of Icon Long/short 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 Long/short Correlation With Market

Good diversification

The correlation between Icon Longshort Fund and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Longshort 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 Longshort 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

  0.94IOBAX Icon Bond FundPairCorr
  0.94IOBZX Icon Bond FundPairCorr
  0.68IOEZX Icon Equity IncomePairCorr
  1.0IOLZX Icon Long/shortPairCorr
  0.97ICBAX Icon Natural ResourcesPairCorr
  0.68ICBMX Icon Natural ResourcesPairCorr
  0.93ICFAX Icon FinancialPairCorr
  0.95ICFSX Icon FinancialPairCorr
  0.97ICTEX Icon Information TecPairCorr
  0.77ICTTX Icon Information TecPairCorr
  0.66VIMAX Vanguard Mid CapPairCorr
  0.68VIMSX Vanguard Mid CapPairCorr
  0.73VMCPX Vanguard Mid CapPairCorr
  0.66VMCIX Vanguard Mid CapPairCorr
  0.66VEXAX Vanguard Extended MarketPairCorr
  0.66VEMPX Vanguard Extended MarketPairCorr
  0.66VIEIX Vanguard Extended MarketPairCorr
  0.66VSEMX Vanguard Extended MarketPairCorr
  0.66VEXMX Vanguard Extended MarketPairCorr
  0.66FSMAX Fidelity Extended MarketPairCorr
  0.71NHS Neuberger Berman HighPairCorr
  0.73FEVRX First Eagle ValuePairCorr
  0.81MFBCX Mfs Porate BondPairCorr
  0.79TNURX 1290 Unconstrained BondPairCorr
  0.95SMAAX Aig Government MoneyPairCorr
  0.63DIEZX Destinations InternationalPairCorr
  0.7FTRRX Franklin Total ReturnPairCorr
  0.97REFGX Emerging Markets GrowthPairCorr
  0.99PAFFX T Rowe PricePairCorr
  0.66HSPCX Emerald GrowthPairCorr
  0.78PLDPX Pimco Low DurationPairCorr
  0.76SCGVX Sands Capital GlobalPairCorr

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 Long/short 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 Long/short'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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