Icon Equity Correlations

IOEZX Fund

USD 17.22 0.07 0.41%

The current 90-days correlation between Icon Equity Income and Icon Bond Fund is 0.39 (i.e., Weak 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

Poor diversification

The correlation between Icon Equity Income and DJI is 0.74 (i.e., 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

0.91	IOBAX	Icon Bond Fund	Pair Corr
0.91	IOBZX	Icon Bond Fund	Pair Corr
0.7	ICTEX	Icon Information Tec	Pair Corr
0.7	ICTTX	Icon Information Tec	Pair Corr
0.96	ICTVX	Icon Utilities	Pair Corr
0.96	ICTUX	Icon Utilities And	Pair Corr
1.0	IEQAX	Icon Equity Income	Pair Corr
0.94	MUTHX	Franklin Mutual Shares	Pair Corr
0.94	TESRX	Franklin Mutual Shares	Pair Corr
0.94	FMSHX	Franklin Mutual Shares	Pair Corr
0.86	PFN	Pimco Income Strategy	Pair Corr
0.69	XDSMX	Dreyfus Strategic	Pair Corr
0.94	CIF	Mfs Intermediate High	Pair Corr
0.86	NXJ	Nuveen New Jersey	Pair Corr
0.68	XNXJX	Nuveen New Jersey	Pair Corr
0.88	XNKGX	Nuveen Georgia Quality	Pair Corr
0.93	XPPRX	Voya Prime Rate	Pair Corr
0.87	CDBCX	Diversified Bond	Pair Corr
0.72	ABASX	Ab Discovery Value	Pair Corr
0.93	HAHSX	Hartford High	Pair Corr
0.96	MNHYX	High Yield Bond	Pair Corr
0.93	LASYX	Loomis Sayles Strategic	Pair Corr
0.81	RGBEX	American Funds Global	Pair Corr
0.69	TPPAX	T Rowe Price	Pair Corr

Related Correlations Analysis

	IOBAX	IOBZX	IOLZX	ISTAX	ICBAX	ICBMX	ICFAX	ICFSX	ICTEX
IOBAX		1.0	0.22	0.21	0.18	0.19	0.56	0.56	0.69	IOBAX
IOBZX	1.0		0.21	0.2	0.17	0.18	0.55	0.56	0.69	IOBZX
IOLZX	0.22	0.21		1.0	0.94	0.94	0.71	0.71	0.74	IOLZX
ISTAX	0.21	0.2	1.0		0.94	0.94	0.71	0.71	0.74	ISTAX
ICBAX	0.18	0.17	0.94	0.94		1.0	0.53	0.53	0.65	ICBAX
ICBMX	0.19	0.18	0.94	0.94	1.0		0.53	0.53	0.65	ICBMX
ICFAX	0.56	0.55	0.71	0.71	0.53	0.53		1.0	0.86	ICFAX
ICFSX	0.56	0.56	0.71	0.71	0.53	0.53	1.0		0.86	ICFSX
ICTEX	0.69	0.69	0.74	0.74	0.65	0.65	0.86	0.86		ICTEX
	IOBAX	IOBZX	IOLZX	ISTAX	ICBAX	ICBMX	ICFAX	ICFSX	ICTEX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IOBAX	0.08	0.03	(0.34)	0.70	0.00	(0.13)	0.12	(0.12)	0.70
IOBZX	0.09	0.03	(0.35)	0.77	0.00	(0.13)	0.23	(0.12)	0.70
IOLZX	0.93	(0.10)	(0.04)	0.04	1.31	(0.94)	1.99	(1.86)	6.35
ISTAX	0.93	(0.10)	(0.04)	0.04	1.30	(0.91)	1.97	(1.85)	6.33
ICBAX	0.97	(0.09)	(0.04)	0.04	1.35	(0.93)	2.09	(2.33)	5.92
ICBMX	0.97	(0.08)	(0.04)	0.04	1.37	(0.90)	2.06	(2.34)	5.87
ICFAX	0.78	(0.08)	(0.06)	0.04	1.08	(0.78)	1.63	(1.84)	3.86
ICFSX	0.78	(0.08)	(0.06)	0.04	1.06	(0.81)	1.60	(1.91)	3.89
ICTEX	0.68	(0.02)	(0.02)	0.09	0.95	(0.68)	1.69	(1.83)	4.50

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

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC

Icon Equity Correlations

Icon Equity Correlation With Market

Poor diversification

Moving together with Icon Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY