Icon Financial Correlations

Mutual Funds . USA . 
Fund . Icon Financial Fund
ICFSX Fund  USD 10.20  0.05  0.49%   
The current 90-days correlation between Icon Financial and Mid Cap Growth Profund is 0.78 (i.e., Poor diversification). The correlation of Icon Financial 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 Financial Correlation With Market

Good diversification

The correlation between Icon Financial Fund and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Financial 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 Financial 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 main economic indicators.

Moving together with Icon Mutual Fund

  0.95ICFAX Icon FinancialPairCorr
  0.79VFAIX Vanguard Financials IndexPairCorr
  0.78FRBCX Regional BankPairCorr
  0.76JRGRX Regional BankPairCorr
  0.87PRISX T Rowe PricePairCorr
  0.64FIDCX Financial IndustriesPairCorr
  0.67JFDRX Financial IndustriesPairCorr
  0.87TFIFX T Rowe PricePairCorr
  0.84DVFYX Davis FinancialPairCorr
  0.87RPFGX Davis FinancialPairCorr
  0.83DFFCX Davis FinancialPairCorr
  0.84PMPIX Precious Metals UltrPairCorr
  0.84PMPSX Precious Metals UltrPairCorr
  0.78FGPMX Franklin Gold AndPairCorr
  0.75FRGOX Franklin Gold PreciousPairCorr
  0.74MIDSX Midas Fund MidasPairCorr
  0.81FIJDX Gold Portfolio FidelityPairCorr
  0.85QCBGX Federated Mdt BalancedPairCorr
  0.92PQTNX Pimco Trends ManagedPairCorr
  0.75EKJAX Wells Fargo PremierPairCorr
  0.86LCCMX Leader Short TermPairCorr
  0.77FAFRX Franklin Floating RatePairCorr
  0.63VMRXX Vanguard Money MarketPairCorr
  0.77SRINX Columbia Porate IncomePairCorr
  0.82NECLX Loomis Sayles LimitedPairCorr
  0.63TEPSX Technology UltrasectorPairCorr
  0.86PHYEX Pgim High YieldPairCorr
  0.63AFTEX Tax Exempt BondPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Financial 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 Financial'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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