Icon Bond Correlations

IOBZX Fund

USD 8.73 0.01 0.11%

The current 90-days correlation between Icon Bond Fund and Financials Ultrasector Profund is 0.55 (i.e., Very weak diversification). The correlation of Icon Bond 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 Bond Correlation With Market

Weak diversification

The correlation between Icon Bond 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 Bond 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 Bond 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

1.0	IOBAX	Icon Bond Fund	Pair Corr
0.83	IOEZX	Icon Equity Income	Pair Corr
0.93	ICTVX	Icon Utilities	Pair Corr
0.93	ICTUX	Icon Utilities And	Pair Corr
0.86	IEQAX	Icon Equity Income	Pair Corr
0.92	PONAX	Pimco Income	Pair Corr
0.91	PONCX	Pimco Income	Pair Corr
0.95	PIPNX	Pimco Income	Pair Corr
0.95	PONRX	Pimco Income	Pair Corr
0.92	PONPX	Pimco Incme Fund	Pair Corr
0.95	PIINX	Pimco Income	Pair Corr
0.92	PIMIX	Pimco Income	Pair Corr
0.84	LBNDX	Lord Abbett Bond	Pair Corr
0.8	FSTAX	Fidelity Advisor Str	Pair Corr
0.82	FSRIX	Fidelity Advisor Str	Pair Corr
0.88	UGPIX	Ultrachina Profund	Pair Corr
0.88	UGPSX	Ultrachina Profund	Pair Corr
0.86	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.97	MFIRX	Ms Global Fixed	Pair Corr
0.9	NSITX	Northern Short-intermedia	Pair Corr
0.95	HFHCX	Hartford Floating	Pair Corr
0.86	LAIIX	Lord Abbett Intermediate	Pair Corr
0.81	BRAMX	Bats Series M	Pair Corr
0.8	TEDMX	Templeton Developing	Pair Corr
0.79	PNMCX	Prudential National Muni	Pair Corr
0.93	NHILX	Neuberger Berman High	Pair Corr
0.95	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.89	TRIGX	T Rowe Price	Pair Corr
0.93	GCMDX	Goldman Sachs Local	Pair Corr
0.73	TEMHX	Tiaa Cref Emerging	Pair Corr

Moving against Icon Mutual Fund

0.38	ICTTX	Icon Information Tec	Pair Corr
0.35	ICTEX	Icon Information Tec	Pair Corr

Related Correlations Analysis

	FNPIX	VETXX	BTO	FIKBX	MSVIX	PSSRX
FNPIX		0.0	0.81	0.9	0.47	0.79	FNPIX
VETXX	0.0		0.0	0.0	0.0	0.0	VETXX
BTO	0.81	0.0		0.93	0.8	0.86	BTO
FIKBX	0.9	0.0	0.93		0.78	0.97	FIKBX
MSVIX	0.47	0.0	0.8	0.78		0.84	MSVIX
PSSRX	0.79	0.0	0.86	0.97	0.84		PSSRX
	FNPIX	VETXX	BTO	FIKBX	MSVIX	PSSRX

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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

PSSRX	+ 0.97	FIKBX
FIKBX	+ 0.93	BTO
FIKBX	+ 0.9	FNPIX
PSSRX	+ 0.86	BTO
PSSRX	+ 0.84	MSVIX
BTO	+ 0.81	FNPIX

High negative correlations

PSSRX	- 0.0	VETXX
MSVIX	- 0.0	VETXX
FIKBX	- 0.0	VETXX
BTO	- 0.0	VETXX
VETXX	- 0.0	FNPIX

Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Bond 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 Bond'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
FNPIX	1.23	0.07	(0.02)	2.08	(3.48)	9.08
VETXX	0.00	0.00	0.00	0.00	0.00	0.00
BTO	1.07	(0.08)	(0.15)	2.30	(2.35)	6.87
FIKBX	0.89	(0.03)	(0.10)	1.66	(2.69)	6.29
MSVIX	0.96	(0.18)	(0.27)	1.40	(2.19)	10.85
PSSRX	0.97	(0.09)	(0.16)	1.69	(3.18)	6.03

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