Icon Long/short Correlations

IOLZX Fund

USD 26.56 0.61 2.25%

The current 90-days correlation between Icon Long/short and Blackrock Large Cap is 0.35 (i.e., Weak 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

Significant diversification

The correlation between Icon Longshort Fund and DJI is 0.02 (i.e., Significant 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

0.69	IOEZX	Icon Equity Income	Pair Corr
0.96	ICBAX	Icon Natural Resources	Pair Corr
0.84	ICFAX	Icon Financial	Pair Corr
0.7	ICTEX	Icon Information Tec	Pair Corr
0.61	ICTUX	Icon Utilities And	Pair Corr
0.82	IEQAX	Icon Equity Income	Pair Corr
0.64	EMBYX	Unconstrained Emerging	Pair Corr

Related Correlations Analysis

	MKFOX	AMFFX	VAAGX	LTFOX	CMIFX	WILCX	ALCEX
MKFOX		0.18	0.19	0.2	-0.23	-0.11	0.32	MKFOX
AMFFX	0.18		0.94	0.84	-0.01	0.85	0.75	AMFFX
VAAGX	0.19	0.94		0.81	-0.21	0.76	0.8	VAAGX
LTFOX	0.2	0.84	0.81		0.17	0.83	0.8	LTFOX
CMIFX	-0.23	-0.01	-0.21	0.17		0.23	-0.09	CMIFX
WILCX	-0.11	0.85	0.76	0.83	0.23		0.67	WILCX
ALCEX	0.32	0.75	0.8	0.8	-0.09	0.67		ALCEX
	MKFOX	AMFFX	VAAGX	LTFOX	CMIFX	WILCX	ALCEX

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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

VAAGX	+ 0.94	AMFFX
WILCX	+ 0.85	AMFFX
LTFOX	+ 0.84	AMFFX
WILCX	+ 0.83	LTFOX
LTFOX	+ 0.81	VAAGX
ALCEX	+ 0.8	VAAGX

High negative correlations

CMIFX	- 0.23	MKFOX
CMIFX	- 0.21	VAAGX
WILCX	- 0.11	MKFOX
ALCEX	- 0.09	CMIFX
CMIFX	- 0.01	AMFFX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MKFOX	1.05	(0.11)	0.00	0.28	0.00	1.79	(2.81)	6.69
AMFFX	0.51	(0.07)	0.00	0.49	0.00	1.01	(1.07)	5.17
VAAGX	0.55	(0.09)	0.00	0.66	0.00	1.14	(1.09)	3.60
LTFOX	0.61	(0.11)	0.00	0.66	0.00	1.22	(1.37)	4.69
CMIFX	0.07	0.01	0.65	(0.64)	(0.12)	0.10	(0.10)	0.42
WILCX	0.56	(0.02)	0.00	(0.13)	0.00	0.85	(1.19)	6.32
ALCEX	0.57	(0.06)	0.00	(0.17)	0.00	0.91	(1.85)	3.50

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