Icon Financial Correlations

ICFSX Fund  USD 10.61  0.09  0.86%   
The correlation of Icon Financial 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Icon Financial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Icon Financial Fund moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Very poor diversification

The correlation between Icon Financial Fund and NYA is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Financial Fund and NYA 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 Financial Fund. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in state.
  
The ability to find closely correlated positions to Icon Financial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Icon Financial when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Icon Financial - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Icon Financial Fund to buy it.

Moving together with Icon Mutual Fund

  0.67IOBAX Icon Bond FundPairCorr
  0.62IOBZX Icon Bond FundPairCorr
  0.9IOLZX Icon Long/shortPairCorr
  0.69ISTAX Icon Long/shortPairCorr
  0.88ICFAX Icon FinancialPairCorr
  0.72ICTEX Icon Information TecPairCorr
  0.73ICTTX Icon Information TecPairCorr
  0.67VFAIX Vanguard Financials IndexPairCorr
  0.66FIDCX Financial IndustriesPairCorr
  0.65JFDRX Financial IndustriesPairCorr
  0.61DVFYX Davis FinancialPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Financial 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 Financial'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Icon Financial without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Already Invested in Icon Financial Fund?

The danger of trading Icon Financial Fund is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Icon Financial is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Icon Financial. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Icon Financial is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Icon Financial Fund. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in state.
You can also try the Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Please note, there is a significant difference between Icon Financial's value and its price as these two are different measures arrived at by different means. Investors typically determine if Icon Financial is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Icon Financial's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.