Intrepid Capital Correlations

ICMBX Fund

USD 12.98 0.08 0.61%

The current 90-days correlation between Intrepid Capital and Intrepid Endurance Fund is 0.18 (i.e., Average diversification). The correlation of Intrepid Capital 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.

Intrepid Capital Correlation With Market

Very poor diversification

The correlation between Intrepid Capital Fund and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intrepid Capital 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 Intrepid Capital 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 bureau of labor statistics.

Moving together with Intrepid Mutual Fund

1.0	ICMVX	Intrepid Capital	Pair Corr
0.9	ICMUX	Intrepid Income	Pair Corr
0.85	FBONX	American Funds American	Pair Corr
0.85	FBAFX	American Funds American	Pair Corr
0.85	ABALX	American Balanced	Pair Corr
0.84	BALCX	American Balanced	Pair Corr
0.85	BALFX	American Balanced	Pair Corr
0.84	RLBCX	American Balanced	Pair Corr
0.83	RLBBX	American Balanced	Pair Corr
0.85	CLBAX	American Balanced	Pair Corr
0.84	CLBEX	American Balanced	Pair Corr
0.85	RLBFX	American Balanced	Pair Corr
0.62	WRHIX	Ivy High Income	Pair Corr
0.69	IVHIX	Ivy High Income	Pair Corr
0.91	CRF	Cornerstone Strategic Sell-off Trend	Pair Corr
0.65	AMECX	Income Fund	Pair Corr
0.75	RGGEX	American Funds Global	Pair Corr
0.97	WCPSX	Mobile Telecommunicatio	Pair Corr
0.96	USPRX	Sp 500 Index	Pair Corr
0.95	VFINX	Vanguard 500 Index	Pair Corr
0.9	GVCAX	Gabelli Value	Pair Corr
0.91	FGRIX	Fidelity Growth Income	Pair Corr
0.95	BTCVX	Cboe Vest Bitcoin	Pair Corr
0.74	HIX	Western Asset High	Pair Corr
0.92	FIVUX	First Investors Oppo	Pair Corr
0.92	ELFNX	Elfun Trusts Elfun	Pair Corr

Moving against Intrepid Mutual Fund

0.72	CIFRX	Columbia Porate Income	Pair Corr
0.4	LIIAX	Columbia Porate Income	Pair Corr

Related Correlations Analysis

	ICMAX	GLRBX	GRSPX	BERIX	VILLX
ICMAX		0.01	0.09	-0.29	0.03	ICMAX
GLRBX	0.01		0.58	0.45	0.68	GLRBX
GRSPX	0.09	0.58		-0.15	-0.05	GRSPX
BERIX	-0.29	0.45	-0.15		0.59	BERIX
VILLX	0.03	0.68	-0.05	0.59		VILLX
	ICMAX	GLRBX	GRSPX	BERIX	VILLX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

VILLX	+ 0.68	GLRBX
VILLX	+ 0.59	BERIX
GRSPX	+ 0.58	GLRBX
BERIX	+ 0.45	GLRBX
GRSPX	+ 0.09	ICMAX
VILLX	+ 0.03	ICMAX

High negative correlations

BERIX	- 0.29	ICMAX
BERIX	- 0.15	GRSPX
VILLX	- 0.05	GRSPX

Risk-Adjusted Indicators

There is a big difference between Intrepid Mutual Fund performing well and Intrepid Capital 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 Intrepid Capital'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
ICMAX	0.65	(0.03)	0.00	(1.28)	0.00	0.00	1.52	(1.35)	3.42
GLRBX	0.32	(0.05)	(0.18)	(0.02)	0.52	(0.31)	0.61	(0.61)	3.19
GRSPX	0.71	(0.05)	(0.03)	0.05	1.30	(0.75)	1.46	(0.90)	10.62
BERIX	0.22	(0.02)	(0.35)	(0.07)	0.26	(0.24)	0.37	(0.45)	1.13
VILLX	0.43	(0.08)	0.00	(0.04)	0.00	0.00	1.05	(0.71)	2.87

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

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC