Icon Equity Correlations

Mutual Funds . USA . 
Fund . Icon Equity Income
IOEZX Fund  USD 16.45  0.19  1.17%   
The current 90-days correlation between Icon Equity Income and Intermediate Term Bond Fund is 0.12 (i.e., Average 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

Almost no diversification

The correlation between Icon Equity Income and DJI is 0.94 (i.e., Almost no 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

  0.88IOBAX Icon Bond FundPairCorr
  0.87IOBZX Icon Bond FundPairCorr
  0.91IOLZX Icon Long/shortPairCorr
  0.91ISTAX Icon Long/shortPairCorr
  0.88ICBAX Icon Natural ResourcesPairCorr
  0.88ICBMX Icon Natural ResourcesPairCorr
  0.89ICFAX Icon FinancialPairCorr
  0.89ICFSX Icon FinancialPairCorr
  0.7ICTEX Icon Information TecPairCorr
  0.72ICTTX Icon Information TecPairCorr
  1.0IEQAX Icon Equity IncomePairCorr
  0.73CGRGX American Funds GrowthPairCorr
  0.72FPGGX American Funds GrowthPairCorr
  0.72FGPGX American Funds GrowthPairCorr
  0.94MUTHX Franklin Mutual SharesPairCorr
  0.95TESRX Franklin Mutual SharesPairCorr
  0.94FMSHX Franklin Mutual SharesPairCorr
  0.73GWPCX American Funds GrowthPairCorr
  0.73GWPFX American Funds GrowthPairCorr
  0.7GWPAX American Funds GrowthPairCorr
  0.72CGQGX American Funds GrowthPairCorr
  0.71ASG Liberty All StarPairCorr
  0.69CII Blackrock EnhancedPairCorr
  0.74IFN India ClosedPairCorr
  0.89ETV Eaton Vance TaxPairCorr
  0.71CLM Cornerstone StrategicPairCorr
  0.69CRF Cornerstone StrategicPairCorr
  0.82USA Liberty All StarPairCorr
  0.85ETY Eaton Vance TaxPairCorr
  0.91NFJ Virtus Dividend InterestPairCorr
  0.67GGSOX Grandeur Peak GlobalPairCorr
  0.7FJPCX Fidelity JapanPairCorr
  0.69AAAGX Thrivent Large CapPairCorr
  0.8IMSCX Ims Capital ValuePairCorr
  0.77PRRTX Putnman Retirement ReadyPairCorr

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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