Icon Long/short Correlations

IOLZX Fund  USD 25.45  0.18  0.70%   
The current 90-days correlation between Icon Long/short and Oklahoma College Savings is 0.72 (i.e., Poor diversification). The correlation of Icon Long/short 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 Long/short Correlation With Market

Poor diversification

The correlation between Icon Longshort Fund and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Longshort 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 Longshort 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

  0.88ISTAX Icon Long/shortPairCorr
  0.91ICBAX Icon Natural ResourcesPairCorr
  0.87ICBMX Icon Natural ResourcesPairCorr
  0.93ICFAX Icon FinancialPairCorr
  0.8ICFSX Icon FinancialPairCorr
  0.9ICTEX Icon Information TecPairCorr
  0.92ICTTX Icon Information TecPairCorr
  0.99VIMAX Vanguard Mid CapPairCorr
  0.89VIMSX Vanguard Mid CapPairCorr
  0.89VMCPX Vanguard Mid CapPairCorr
  0.99VMCIX Vanguard Mid CapPairCorr
  0.77VEXAX Vanguard Extended MarketPairCorr
  0.82VEMPX Vanguard Extended MarketPairCorr
  0.93VIEIX Vanguard Extended MarketPairCorr
  0.93VSEMX Vanguard Extended MarketPairCorr
  0.82VEXMX Vanguard Extended MarketPairCorr
  0.93FSMAX Fidelity Extended MarketPairCorr
  0.66IVHIX Ivy High IncomePairCorr
  0.66IHIFX Ivy High IncomePairCorr
  0.65WRHIX Ivy High IncomePairCorr
  0.67WHIAX Ivy High IncomePairCorr

Moving against Icon Mutual Fund

  0.43BRAMX Bats Series MPairCorr
  0.41AGIVX Invesco GovernmentPairCorr
  0.34VIITX Vanguard InstitutionalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Long/short 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 Long/short'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.