Icon Bond Correlations

IOBAX Fund

USD 8.47 0.03 0.35%

The current 90-days correlation between Icon Bond Fund and Icon Bond Fund is -0.1 (i.e., Good 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

Good diversification

The correlation between Icon Bond Fund and DJI is -0.06 (i.e., Good 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

0.73	IOBZX	Icon Bond Fund	Pair Corr
0.91	IOEZX	Icon Equity Income	Pair Corr
0.93	ICBAX	Icon Natural Resources	Pair Corr
0.92	ICBMX	Icon Natural Resources	Pair Corr
0.87	ICFAX	Icon Financial	Pair Corr
0.88	ICFSX	Icon Financial	Pair Corr
0.96	ICTEX	Icon Information Tec	Pair Corr
0.94	ICTTX	Icon Information Tec	Pair Corr
0.92	IEQAX	Icon Equity Income	Pair Corr
0.91	PONAX	Pimco Income	Pair Corr
0.88	PONCX	Pimco Income	Pair Corr
0.91	PIPNX	Pimco Income	Pair Corr
0.89	PONRX	Pimco Income	Pair Corr
0.89	PONPX	Pimco Incme Fund	Pair Corr
0.9	PIINX	Pimco Income	Pair Corr
0.89	PIMIX	Pimco Income	Pair Corr
0.97	LBNDX	Lord Abbett Bond	Pair Corr
0.97	FSTAX	Fidelity Advisor Str	Pair Corr
0.97	FSRIX	Fidelity Advisor Str	Pair Corr
0.78	GAAKX	Gmo Alternative Allo	Pair Corr
0.78	GAAGX	Gmo Alternative Allo	Pair Corr
0.75	GPBFX	Gmo E Plus	Pair Corr
0.99	LTINX	Principal Lifetime 2015	Pair Corr
0.98	ISNHX	Voya Solution 2030	Pair Corr
0.91	MGQAX	Global Quality Portfolio	Pair Corr
0.98	NPSFX	Nuveen Preferred Sec	Pair Corr
0.86	RPNIX	Riverpark/next Century	Pair Corr
0.87	NWKEX	Nationwide Highmark Small	Pair Corr
0.97	CGOAX	Columbia Small Cap	Pair Corr
0.96	VFIAX	Vanguard 500 Index	Pair Corr
0.93	RSVAX	Victory Rs Value	Pair Corr
0.96	UINQX	Usaa Nasdaq 100	Pair Corr
0.96	VGRLX	Vanguard Global Ex	Pair Corr

Moving against Icon Mutual Fund

0.39

GPMFX

Guidepath Managed Futures

Pair Corr

Related Correlations Analysis

	IOBAX	IOBZX	IOEZX	IOLZX	ISTAX	ICBAX	ICBMX	ICFAX	ICFSX	ICTEX
IOBAX		0.73	0.91	0.57	0.0	0.93	0.92	0.87	0.88	0.96	IOBAX
IOBZX	0.73		0.68	0.93	0.0	0.73	0.73	0.59	0.61	0.71	IOBZX
IOEZX	0.91	0.68		0.63	0.0	0.93	0.97	0.89	0.86	0.9	IOEZX
IOLZX	0.57	0.93	0.63		0.0	0.66	0.67	0.55	0.55	0.6	IOLZX
ISTAX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	ISTAX
ICBAX	0.93	0.73	0.93	0.66	0.0		0.97	0.86	0.89	0.93	ICBAX
ICBMX	0.92	0.73	0.97	0.67	0.0	0.97		0.88	0.87	0.91	ICBMX
ICFAX	0.87	0.59	0.89	0.55	0.0	0.86	0.88		0.97	0.94	ICFAX
ICFSX	0.88	0.61	0.86	0.55	0.0	0.89	0.87	0.97		0.96	ICFSX
ICTEX	0.96	0.71	0.9	0.6	0.0	0.93	0.91	0.94	0.96		ICTEX
	IOBAX	IOBZX	IOEZX	IOLZX	ISTAX	ICBAX	ICBMX	ICFAX	ICFSX	ICTEX

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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

ICBMX	+ 0.97	IOEZX
ICBMX	+ 0.97	ICBAX
ICFSX	+ 0.97	ICFAX
ICTEX	+ 0.96	IOBAX
ICTEX	+ 0.96	ICFSX
ICTEX	+ 0.94	ICFAX

High negative correlations

ICTEX	- 0.0	ISTAX
ICFSX	- 0.0	ISTAX
ICFAX	- 0.0	ISTAX
ICBMX	- 0.0	ISTAX
ICBAX	- 0.0	ISTAX
ISTAX	- 0.0	IOLZX

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IOBAX	0.11	0.04	(0.41)	(4.46)	0.00	(0.17)	0.24	(0.12)	1.09
IOBZX	0.09	0.02	(0.48)	0.36	0.00	(0.14)	0.24	(0.12)	0.71
IOEZX	0.65	0.04	0.01	0.18	0.59	(0.73)	1.73	(1.25)	4.17
IOLZX	0.87	0.23	0.23	0.37	0.56	(1.04)	2.21	(1.48)	6.71
ISTAX	0.86	0.37	0.23	(2.50)	0.54	(1.04)	2.24	(1.47)	6.71
ICBAX	0.93	0.26	0.11	(3.16)	0.81	(1.04)	2.15	(1.75)	5.13
ICBMX	0.94	0.12	0.10	0.26	0.81	(1.06)	2.11	(1.72)	5.15
ICFAX	0.79	0.05	0.04	0.18	0.85	(0.93)	2.16	(1.88)	5.58
ICFSX	0.81	0.21	0.06	(1.18)	0.82	(0.94)	2.14	(1.85)	5.60
ICTEX	0.90	0.30	0.13	(1.64)	0.76	(1.04)	2.48	(1.79)	5.89

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