Icon Equity Correlations

Mutual Funds . USA . 
Fund . Icon Equity Income
IEQAX Fund  USD 16.71  0.13  0.77%   
The current 90-days correlation between Icon Equity Income and Icon Equity Income is 1.0 (i.e., No risk reduction). The correlation of Icon Equity 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 Equity Correlation With Market

Poor diversification

The correlation between Icon Equity Income and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Equity Income 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 Equity Income. 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

  0.87IOBAX Icon Bond FundPairCorr
  0.87IOBZX Icon Bond FundPairCorr
  1.0IOEZX Icon Equity IncomePairCorr
  0.87ICTVX Icon UtilitiesPairCorr
  0.87ICTUX Icon Utilities AndPairCorr
  0.82THCAX Thornburg Core PlusPairCorr
  0.93RROPX American Funds RetirementPairCorr
  0.91VCRCX Mainstay Cbre GlobalPairCorr
  0.69XNCVX Allianzgi ConvertiblePairCorr
  0.82VMSSX Virtus Multi SectorPairCorr

Moving against Icon Mutual Fund

  0.64IIF Morgan Stanley IndiaPairCorr
  0.47ASG Liberty All StarPairCorr
  0.42CRF Cornerstone StrategicPairCorr
  0.4IFN India ClosedPairCorr

Related Correlations Analysis

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   
RSFYX
+ 0.61
IOEZX
LVOAX
+ 0.43
ACBYX
ACBYX
+ 0.2
IOEZX
ARSBX
+ 0.0
IOEZX
ARSBX
+ 0.0
ACBYX
LVOAX
+ 0.0
ARSBX
  
High negative correlations   
LVOAX
- 0.35
IOEZX
RSFYX
- 0.34
LVOAX
RSFYX
- 0.16
ACBYX
RSFYX
- 0.0
ARSBX
LVOAX
- 0.0
ARSBX
ARSBX
- 0.0
ACBYX

Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Equity 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 Equity'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.

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