Icon Longshort Fund Market Value
| ISTAX Fund | USD 26.07 0.01 0.04% |
| Symbol | Icon |
Icon Longshort 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Icon Longshort's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Icon Longshort.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Icon Longshort on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Icon Longshort Fund or generate 0.0% return on investment in Icon Longshort over 30 days. Icon Longshort is related to or competes with HUMANA, Barloworld, Morningstar Unconstrained, High Yield, Thrivent High, Via Renewables, and T Rowe. Normally the fund will invest at least 80 percent of its net assets, plus any borrowings for investment purposes, in equ... More
Icon Longshort Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Icon Longshort's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Icon Longshort Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9987 | |||
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 3.29 | |||
| Value At Risk | (1.67) | |||
| Potential Upside | 1.14 |
Icon Longshort Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Icon Longshort's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Icon Longshort's standard deviation. In reality, there are many statistical measures that can use Icon Longshort historical prices to predict the future Icon Longshort's volatility.| Risk Adjusted Performance | 0.0313 | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.08) | |||
| Sortino Ratio | (0.06) | |||
| Treynor Ratio | 0.0242 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Icon Longshort's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Icon Longshort Backtested Returns
We consider Icon Longshort very steady. Icon Longshort holds Efficiency (Sharpe) Ratio of 0.0357, which attests that the entity had a 0.0357% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Icon Longshort, which you can use to evaluate the volatility of the entity. Please check out Icon Longshort's Downside Deviation of 0.9987, market risk adjusted performance of 0.0342, and Risk Adjusted Performance of 0.0313 to validate if the risk estimate we provide is consistent with the expected return of 0.0296%. The fund retains a Market Volatility (i.e., Beta) of 1.16, which attests to a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Icon Longshort will likely underperform.
Auto-correlation | 0.37 |
Below average predictability
Icon Longshort Fund has below average predictability. Overlapping area represents the amount of predictability between Icon Longshort time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Icon Longshort price movement. The serial correlation of 0.37 indicates that just about 37.0% of current Icon Longshort price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.37 | |
| Spearman Rank Test | 0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 0.08 |
Icon Longshort lagged returns against current returns
Autocorrelation, which is Icon Longshort mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Icon Longshort's mutual fund expected returns. We can calculate the autocorrelation of Icon Longshort returns to help us make a trade decision. For example, suppose you find that Icon Longshort has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Icon Longshort regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Icon Longshort mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Icon Longshort mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Icon Longshort mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Icon Longshort Lagged Returns
When evaluating Icon Longshort's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Icon Longshort mutual fund have on its future price. Icon Longshort autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Icon Longshort autocorrelation shows the relationship between Icon Longshort mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Icon Longshort Fund.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Icon Longshort in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Icon Longshort's short interest history, or implied volatility extrapolated from Icon Longshort options trading.
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Try AI Portfolio ArchitectCheck out Icon Longshort Correlation, Icon Longshort Volatility and Icon Longshort Alpha and Beta module to complement your research on Icon Longshort. Note that the Icon Longshort information on this page should be used as a complementary analysis to other Icon Longshort's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Icon Longshort technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.