ICON PLC Correlations

ICLR Stock  USD 211.04  0.00  0.00%   
The correlation of ICON PLC is a statistical measure of how it moves in relation to other equities. 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 PLC moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ICON PLC 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.
Check out Risk vs Return Analysis. To learn how to invest in ICON PLC Stock please use our How to Invest in ICON PLC guide.
The ability to find closely correlated positions to ICON PLC 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 PLC 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 PLC - 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 PLC to buy it.

Moving together with ICON PLC

+0.83MBIOMustang Bio Earnings Call TodayPairCorr
+0.74MESOMesoblast Fiscal Quarter End 31st of March 2023 PairCorr
+0.73MGTXMeiraGTx Holdings PLC Fiscal Quarter End 31st of March 2023 PairCorr
+0.67VBIVVBI Vaccines Fiscal Quarter End 31st of March 2023 PairCorr
+0.76VBLTVascular Biogenics Fiscal Quarter End 31st of March 2023 PairCorr
+0.78VCELVericel Corp Ord Fiscal Quarter End 31st of March 2023 PairCorr
+0.83MIRMMirum Pharmaceuticals Fiscal Quarter End 31st of March 2023 PairCorr

Related Correlations

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
High negative correlations   

Risk-Adjusted Indicators

Nowadays, there is a big difference between ICON PLC Stock performing well and ICON PLC company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze ICON PLC's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
At Risk
LH 1.12 (0.03)  0.00 (0.08)  0.00 (0.0207)  0.00  1.94 (2.36)  7.13 
MSFT 1.52  0.20  0.12  0.15  1.60  0.10 (1.72)  3.57 (2.58)  7.35 
AXP 1.45  0.21  0.11  0.10  1.72  0.09 (1.60)  3.31 (2.61)  15.41 
CVX 1.30 (0.07)  0.00 (0.13)  0.00 (0.0428)  0.00  2.62 (2.93)  9.30 
XOM 1.40  0.06  0.03  0.01  1.73  0.0307 (1.50)  2.85 (3.13)  9.19 
KO 0.68 (0.05)  0.00 (0.17)  0.00 (0.0219)  0.00  1.54 (1.30)  4.97 
INTC 1.88  0.15  0.06  0.08  2.33  0.06 (1.93)  3.86 (3.21)  10.65 
VZ 0.96  0.03  0.04  0.00  1.31  0.0429 (0.92)  1.99 (2.15)  5.12 
HD 1.17 (0.16)  0.00 (0.22)  0.00 (0.1)  0.00  2.21 (2.44)  10.63 
PFE 0.94 (0.40)  0.00 (0.77)  0.00 (0.29)  0.00  1.30 (2.34)  7.51 

Be your own money manager

Our tools can tell you how much better you can do entering a position in ICON PLC 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.

Did you try this?

Run Companies Directory Now


Companies Directory

Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals
All  Next Launch Module

ICON PLC Corporate Directors

ICON PLC corporate directors refer to members of an ICON PLC board of directors. The board of directors generally takes responsibility for the ICON PLC's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of ICON PLC's board members must vote for the resolution. The ICON PLC board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Ronan LambeNon-Executive DirectorProfile
William HallNon-Executive DirectorProfile
Julie ONeillNon-Executive DirectorProfile
Hugh BradyNon-Executive DirectorProfile

Already Invested in ICON PLC?

The danger of trading ICON PLC is mainly related to its market volatility and company 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 PLC 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 PLC. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile ICON PLC 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 learn how to invest in ICON PLC Stock please use our How to Invest in ICON PLC guide. You can also try Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.

Complementary Tools for analysis

When running ICON PLC price analysis, check to measure ICON PLC's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy ICON PLC is operating at the current time. Most of ICON PLC's value examination focuses on studying past and present price action to predict the probability of ICON PLC's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move ICON PLC's price. Additionally, you may evaluate how the addition of ICON PLC to your portfolios can decrease your overall portfolio volatility.
Financial Widgets
Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets
Companies Directory
Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals
Commodity Channel Index
Use Commodity Channel Index to analyze current equity momentum
Cryptocurrency Center
Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency
Instant Ratings
Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance
Bollinger Bands
Use Bollinger Bands indicator to analyze target price for a given investing horizon
Global Correlations
Find global opportunities by holding instruments from different markets
Stock Screener
Find equities using custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook.
Options Analysis
Analyze and evaluate options and option chains as a potential hedge for your portfolios
Money Flow Index
Determine momentum by analyzing Money Flow Index and other technical indicators
Equity Search
Search for actively traded equities including funds and ETFs from over 30 global markets
Sync Your Broker
Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors.
Earnings Calls
Check upcoming earnings announcements updated hourly across public exchanges
Is ICON PLC's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of ICON PLC. If investors know ICON PLC will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about ICON PLC listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
Earnings Share
Revenue Per Share
Quarterly Revenue Growth
Return On Assets
The market value of ICON PLC is measured differently than its book value, which is the value of ICON PLC that is recorded on the company's balance sheet. Investors also form their own opinion of ICON PLC's value that differs from its market value or its book value, called intrinsic value, which is ICON PLC's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because ICON PLC's market value can be influenced by many factors that don't directly affect ICON PLC's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between ICON PLC's value and its price as these two are different measures arrived at by different means. Investors typically determine ICON PLC value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ICON PLC'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.