Intrepid Capital Correlations

Mutual Funds . USA . 
Fund . Intrepid Capital Fund
ICMVX Fund  USD 13.91  0.05  0.36%   
The current 90-days correlation between Intrepid Capital and Global Gold Fund is 0.09 (i.e., Significant diversification). The correlation of Intrepid Capital 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.

Intrepid Capital Correlation With Market

Poor diversification

The correlation between Intrepid Capital Fund and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intrepid Capital 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 Intrepid Capital 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 unemployment.

Moving together with INTREPID Mutual Fund

  0.83ICMUX Intrepid IncomePairCorr
  1.0ICMBX Intrepid CapitalPairCorr
  0.8FBONX American Funds AmericanPairCorr
  0.8FBAFX American Funds AmericanPairCorr
  0.73ABALX American BalancedPairCorr
  0.73BALCX American BalancedPairCorr
  0.8BALFX American BalancedPairCorr
  0.73RLBCX American BalancedPairCorr
  0.81RLBBX American BalancedPairCorr
  0.73CLBAX American BalancedPairCorr
  0.8CLBEX American BalancedPairCorr
  0.8RLBFX American BalancedPairCorr
  0.67PFN Pimco Income StrategyPairCorr
  0.76XDSMX Dreyfus StrategicPairCorr
  0.75XNXJX Nuveen New JerseyPairCorr
  0.74NXJ Nuveen New JerseyPairCorr
  0.78XNBHX Neuberger Berman IntPairCorr
  0.82FASYX Fidelity Sai SustainablePairCorr
  0.65JDSAX Perkins Small CapPairCorr
  0.74PWDCX Power Dividend IndexPairCorr
  0.75BIGPX Blackrock Gwth PtfPairCorr
  0.75SISIX Ridgeworth Seix InvePairCorr
  0.75CBTAX Six Circles TaxPairCorr
  0.65RSGFX Victory Rs SelectPairCorr
  0.82SWBGX Schwab MarkettrackPairCorr
  0.86MXNYX Great West LifetimePairCorr
  0.69IIFSX Vy Franklin IncomePairCorr
  0.67RTDSX Select EquityPairCorr
  0.72VFIAX Vanguard 500 IndexPairCorr
  0.85JRLHX Retirement Living ThroughPairCorr
  0.82IRVIX Voya Russelltm LargePairCorr
  0.74RMMGX Short Term BondPairCorr
  0.84MURJX Mutual Of AmericaPairCorr
  0.89LTTAX Mfs Lifetime 2025PairCorr
  0.67FZAFX Fidelity Advisor EquityPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between INTREPID Mutual Fund performing well and Intrepid Capital 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 Intrepid Capital'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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