Correlation Between Icon Financial and Aig Government
Can any of the company-specific risk be diversified away by investing in both Icon Financial and Aig Government at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Icon Financial and Aig Government into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Icon Financial Fund and Aig Government Money, you can compare the effects of market volatilities on Icon Financial and Aig Government and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Icon Financial with a short position of Aig Government. Check out your portfolio center. Please also check ongoing floating volatility patterns of Icon Financial and Aig Government.
Diversification Opportunities for Icon Financial and Aig Government
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Icon and Aig is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Icon Financial Fund and Aig Government Money in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aig Government Money and Icon Financial is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Icon Financial Fund are associated (or correlated) with Aig Government. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aig Government Money has no effect on the direction of Icon Financial i.e., Icon Financial and Aig Government go up and down completely randomly.
Pair Corralation between Icon Financial and Aig Government
Assuming the 90 days horizon Icon Financial Fund is expected to generate 21.07 times more return on investment than Aig Government. However, Icon Financial is 21.07 times more volatile than Aig Government Money. It trades about 0.1 of its potential returns per unit of risk. Aig Government Money is currently generating about 0.12 per unit of risk. If you would invest 785.00 in Icon Financial Fund on September 10, 2025 and sell it today you would earn a total of 88.00 from holding Icon Financial Fund or generate 11.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Icon Financial Fund vs. Aig Government Money
Performance |
| Timeline |
| Icon Financial |
| Aig Government Money |
Icon Financial and Aig Government Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Icon Financial and Aig Government
The main advantage of trading using opposite Icon Financial and Aig Government positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Icon Financial position performs unexpectedly, Aig Government can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Aig Government will offset losses from the drop in Aig Government's long position.| Icon Financial vs. John Hancock High | Icon Financial vs. T Rowe Price | Icon Financial vs. T Rowe Price | Icon Financial vs. Ab High Income |
| Aig Government vs. Simt Multi Asset Accumulation | Aig Government vs. Saat Market Growth | Aig Government vs. Simt Real Return | Aig Government vs. Simt Small Cap |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Stocks Directory Find actively traded stocks across global markets |