Icon Natural Correlations

ICBMX Fund

USD 16.89 0.03 0.18%

The current 90-days correlation between Icon Natural Resources and Diversified Bond Fund is 0.03 (i.e., Significant diversification). The correlation of Icon Natural 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 Natural Correlation With Market

Poor diversification

The correlation between Icon Natural Resources and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Natural Resources 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 Natural Resources. 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 population.

Moving together with Icon Mutual Fund

0.92	IOLZX	Icon Longshort	Pair Corr
0.93	ISTAX	Icon Longshort	Pair Corr
1.0	ICBAX	Icon Natural Resources	Pair Corr
0.86	ICFAX	Icon Financial	Pair Corr
0.86	ICFSX	Icon Financial	Pair Corr
0.92	ICTEX	Icon Information Tec	Pair Corr
0.92	ICTTX	Icon Information Tec	Pair Corr
0.71	VMIAX	Vanguard Materials Index	Pair Corr
0.85	GEACX	Gmo Trust	Pair Corr
0.85	GAAHX	Gmo Resources	Pair Corr
0.84	GMOWX	Gmo Resources	Pair Corr

Moving against Icon Mutual Fund

0.42	ICTVX	Icon Utilities	Pair Corr
0.42	ICTUX	Icon Utilities And	Pair Corr
0.59	HOSGX	Short Term Government	Pair Corr
0.55	PRCIX	T Rowe Price	Pair Corr
0.53	FTIAX	Federated Short Term	Pair Corr
0.52	GILDX	Guggenheim Limited	Pair Corr
0.5	SWFCX	Sentinel International	Pair Corr
0.48	FCBCX	Nuveen Strategic Income	Pair Corr
0.36	PDI	Pimco Dynamic Income Sell-off Trend	Pair Corr
0.35	JIEZX	Jpmorgan International	Pair Corr
0.33	PISHX	Cohen Steers Preferred	Pair Corr

Related Correlations Analysis

	CDBCX	FHCOX	TFCAX	BICPX	PGFCX
CDBCX		0.83	0.83	0.76	0.7	CDBCX
FHCOX	0.83		0.99	0.62	0.57	FHCOX
TFCAX	0.83	0.99		0.64	0.6	TFCAX
BICPX	0.76	0.62	0.64		0.93	BICPX
PGFCX	0.7	0.57	0.6	0.93		PGFCX
	CDBCX	FHCOX	TFCAX	BICPX	PGFCX

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Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Natural 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 Natural'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
CDBCX	0.24	0.00	0.12	0.16	0.24	(0.30)	0.56	(0.44)	1.34
FHCOX	0.05	0.01	0.00	(0.52)	0.00	0.00	0.10	(0.10)	0.51
TFCAX	0.02	0.00	0.00	0.33	0.00	0.00	0.10	0.00	0.40
BICPX	0.24	0.00	0.08	(0.03)	0.31	(0.31)	0.54	(0.45)	1.55
PGFCX	0.29	(0.01)	0.06	0.08	0.39	(0.35)	0.67	(0.48)	1.75

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