Icon Financial Correlations

ICFAX Fund

USD 9.12 0.06 0.65%

The current 90-days correlation between Icon Financial and Morningstar Global Income is 0.84 (i.e., Very 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

Poor diversification

The correlation between Icon Financial Fund 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 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 nation.

Moving together with Icon Mutual Fund

0.93	IOLZX	Icon Longshort	Pair Corr
0.93	ISTAX	Icon Longshort	Pair Corr
0.86	ICBAX	Icon Natural Resources	Pair Corr
0.86	ICBMX	Icon Natural Resources	Pair Corr
1.0	ICFSX	Icon Financial	Pair Corr
0.89	ICTEX	Icon Information Tec	Pair Corr
0.89	ICTTX	Icon Information Tec	Pair Corr
0.78	VFAIX	Vanguard Financials Index	Pair Corr
0.79	FRBCX	Regional Bank	Pair Corr
0.8	JRGRX	Regional Bank	Pair Corr
0.81	PRISX	T Rowe Price	Pair Corr
0.76	FIDCX	Financial Industries	Pair Corr
0.79	JFDRX	Financial Industries	Pair Corr
0.81	TFIFX	T Rowe Price	Pair Corr

Moving against Icon Mutual Fund

0.39	ICTVX	Icon Utilities	Pair Corr
0.39	ICTUX	Icon Utilities And	Pair Corr
0.49	ACTVX	Zero Pon 2025	Pair Corr
0.48	EKIZX	Wells Fargo Adjustable	Pair Corr
0.44	VFIJX	Vanguard Gnma	Pair Corr
0.4	IOSAX	Voya Global Bond	Pair Corr
0.38	NSTCX	Neuberger Berman Str	Pair Corr
0.38	JHCBX	John Hancock Bond	Pair Corr

Related Correlations Analysis

	MSTGX	ANAGX	WRLDX	TBCUX	QGMIX	HRLAX	DBLGX	MFIRX
MSTGX		0.87	0.91	0.89	0.88	0.91	0.88	0.96	MSTGX
ANAGX	0.87		0.8	0.73	0.73	0.68	0.87	0.93	ANAGX
WRLDX	0.91	0.8		0.7	0.65	0.74	0.71	0.84	WRLDX
TBCUX	0.89	0.73	0.7		0.92	0.89	0.93	0.86	TBCUX
QGMIX	0.88	0.73	0.65	0.92		0.89	0.86	0.89	QGMIX
HRLAX	0.91	0.68	0.74	0.89	0.89		0.8	0.84	HRLAX
DBLGX	0.88	0.87	0.71	0.93	0.86	0.8		0.89	DBLGX
MFIRX	0.96	0.93	0.84	0.86	0.89	0.84	0.89		MFIRX
	MSTGX	ANAGX	WRLDX	TBCUX	QGMIX	HRLAX	DBLGX	MFIRX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MSTGX	0.31	0.07	0.23	0.14	0.34	(0.34)	0.74	(0.62)	1.58
ANAGX	0.18	0.00	0.22	(0.03)	0.19	(0.27)	0.44	(0.44)	1.46
WRLDX	0.64	0.04	0.00	(0.01)	0.00	0.00	1.24	(1.68)	2.96
TBCUX	0.60	0.13	0.22	0.29	0.56	(0.68)	1.49	(1.14)	4.33
QGMIX	0.37	0.10	0.39	(0.73)	0.17	(0.45)	0.83	(0.63)	2.42
HRLAX	0.36	0.08	0.22	0.27	0.42	(0.42)	0.83	(0.71)	2.05
DBLGX	0.22	0.01	0.26	0.19	0.19	(0.30)	0.48	(0.36)	1.21
MFIRX	0.11	0.02	0.29	0.92	0.00	(0.21)	0.19	(0.19)	0.77

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