Icon Utilities Correlations

ICTVX Fund

USD 9.99 0.09 0.89%

The current 90-days correlation between Icon Utilities and Icon Utilities And is 1.0 (i.e., No risk reduction). The correlation of Icon Utilities 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 Utilities Correlation With Market

Weak diversification

The correlation between Icon Utilities Fund and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Utilities 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 Utilities 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 real.

Moving together with Icon Mutual Fund

0.77	D	Dominion Energy	Pair Corr
0.95	ED	Consolidated Edison	Pair Corr
0.93	ES	Eversource Energy	Pair Corr
0.84	HE	Hawaiian Electric	Pair Corr
0.93	NI	NiSource	Pair Corr
0.96	SO	Southern	Pair Corr
0.99	SR	Spire Inc	Pair Corr
0.9	DUKB	Duke Energy Corp	Pair Corr
0.68	CMS-PB	Consumers Energy	Pair Corr
0.7	CDZIP	Cadiz Depositary Shares Earnings Call This Week	Pair Corr
0.88	ELPC	Companhia Paranaense	Pair Corr
0.94	ENIC	Enel Chile SA	Pair Corr
0.97	EVRG	Evergy,	Pair Corr
0.73	WTRG	Essential Utilities	Pair Corr
0.96	AEE	Ameren Corp	Pair Corr
0.96	AEP	American Electric Power	Pair Corr
0.88	ALE	Allete Inc	Pair Corr
0.91	AQN	Algonquin Power Utilities	Pair Corr
0.98	ATO	Atmos Energy	Pair Corr
0.91	AVA	Avista	Pair Corr
0.85	AWK	American Water Works	Pair Corr
0.86	BKH	Black Hills	Pair Corr
0.78	CIG	Companhia Energetica	Pair Corr
0.96	CMS	CMS Energy	Pair Corr
0.94	CNP	CenterPoint Energy	Pair Corr
0.85	CPK	Chesapeake Utilities	Pair Corr
0.95	DTE	DTE Energy	Pair Corr

Moving against Icon Mutual Fund

0.8	RNWWW	ReNew Energy Global	Pair Corr
0.49	CMS-PC	CMS Energy	Pair Corr
0.34	ELLO	Ellomay Capital Earnings Call This Week	Pair Corr
0.66	EDN	Empresa Distribuidora	Pair Corr
0.66	EIX	Edison International	Pair Corr
0.46	GEV	GE Vernova LLC	Pair Corr
0.45	BIP	Brookfield Infrastructure	Pair Corr
0.31	GNE	Genie Energy	Pair Corr

Related Correlations Analysis

	ICTUX	RYUTX	EVUAX	FUGAX	ICTTX
ICTUX		0.85	0.73	0.19	-0.57	ICTUX
RYUTX	0.85		0.91	0.6	-0.23	RYUTX
EVUAX	0.73	0.91		0.6	0.08	EVUAX
FUGAX	0.19	0.6	0.6		0.38	FUGAX
ICTTX	-0.57	-0.23	0.08	0.38		ICTTX
	ICTUX	RYUTX	EVUAX	FUGAX	ICTTX

Click cells to compare fundamentals

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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

EVUAX	+ 0.91	RYUTX
RYUTX	+ 0.85	ICTUX
EVUAX	+ 0.73	ICTUX
FUGAX	+ 0.6	RYUTX
FUGAX	+ 0.6	EVUAX
ICTTX	+ 0.38	FUGAX

High negative correlations

ICTTX	- 0.57	ICTUX
ICTTX	- 0.23	RYUTX

Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Utilities 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 Utilities' 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
ICTUX	0.72	0.14	0.17	0.35	0.88	(0.74)	1.47	(1.70)	4.28
RYUTX	0.77	0.06	0.10	0.09	0.99	(0.82)	1.65	(1.87)	4.77
EVUAX	0.73	0.05	0.10	0.06	0.88	(0.81)	1.64	(1.74)	3.96
FUGAX	0.86	(0.03)	0.00	(0.15)	0.00	0.00	1.77	(2.17)	6.25
ICTTX	0.94	(0.12)	0.00	(0.19)	0.00	0.00	1.47	(2.54)	5.31

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