Icon Information Correlations

ICTTX Fund

USD 13.65 0.32 2.29%

The current 90-days correlation between Icon Information Tec and Qs Growth Fund is 0.35 (i.e., Weak diversification). The correlation of Icon Information 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 Information Correlation With Market

Modest diversification

The correlation between Icon Information Technology and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Information Technology 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 Information Technology. 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 population.

Moving together with Icon Mutual Fund

0.85	ICBAX	Icon Natural Resources	Pair Corr
1.0	ICTEX	Icon Information Tec	Pair Corr

Moving against Icon Mutual Fund

0.91	ICFAX	Icon Financial	Pair Corr
0.72	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.72	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.58	RSNYX	Victory Global Natural	Pair Corr
0.57	RGNCX	Victory Global Natural	Pair Corr
0.52	RSNRX	Victory Global Natural	Pair Corr
0.72	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.72	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.71	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.67	FMSTX	Federated Mdt Large	Pair Corr
0.54	NSMAX	Nuveen Nwq Smallmid	Pair Corr
0.48	VPMCX	Vanguard Primecap	Pair Corr
0.42	GTEYX	Gateway Fund Class	Pair Corr
0.33	CMGUX	Cmg Ultra Short	Pair Corr
0.31	VTCIX	Vanguard Tax Managed	Pair Corr
0.72	ACHFX	American Century High	Pair Corr
0.52	FRBRX	Franklin Biotechnology	Pair Corr
0.46	HGHYX	The Hartford Healthcare	Pair Corr
0.46	AALIX	Astonherndon Large Cap	Pair Corr

Related Correlations Analysis

	LLLRX	MGAFX	RPNCX	NEAIX	PLAAX	LMLRX	AUERX
LLLRX		0.85	0.89	0.85	0.48	0.96	0.55	LLLRX
MGAFX	0.85		0.74	0.77	0.58	0.84	0.47	MGAFX
RPNCX	0.89	0.74		0.88	0.43	0.87	0.55	RPNCX
NEAIX	0.85	0.77	0.88		0.56	0.83	0.4	NEAIX
PLAAX	0.48	0.58	0.43	0.56		0.35	-0.16	PLAAX
LMLRX	0.96	0.84	0.87	0.83	0.35		0.59	LMLRX
AUERX	0.55	0.47	0.55	0.4	-0.16	0.59		AUERX
	LLLRX	MGAFX	RPNCX	NEAIX	PLAAX	LMLRX	AUERX

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

LMLRX	+ 0.96	LLLRX
RPNCX	+ 0.89	LLLRX
NEAIX	+ 0.88	RPNCX
LMLRX	+ 0.87	RPNCX
MGAFX	+ 0.85	LLLRX
NEAIX	+ 0.85	LLLRX

High negative correlations

AUERX

- 0.16

PLAAX

Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Information 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 Information'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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LLLRX	0.51	(0.02)	(0.03)	0.04	0.81	(0.47)	1.02	(1.23)	3.00
MGAFX	0.45	0.04	(0.02)	0.49	0.56	(0.46)	0.93	(0.93)	2.85
RPNCX	1.22	(0.03)	0.00	0.05	1.60	(1.34)	2.46	(2.85)	8.43
NEAIX	1.21	0.03	0.04	0.09	1.55	(1.18)	2.29	(3.01)	6.19
PLAAX	0.66	0.00	(0.05)	0.12	1.10	(0.59)	1.45	(1.89)	4.23
LMLRX	0.24	(0.01)	(0.14)	0.03	0.28	(0.26)	0.51	(0.57)	1.38
AUERX	1.04	(0.12)	0.00	(0.03)	0.00	0.00	1.96	(1.80)	4.33

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