Icon Utilities Correlations

ICTUX Fund

USD 9.61 0.04 0.41%

The current 90-days correlation between Icon Utilities And and Utilities Fund Class is 0.88 (i.e., Very poor diversification). The correlation of Icon Utilities 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 Utilities Correlation With Market

Weak diversification

The correlation between Icon Utilities And and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icon Utilities And 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 Utilities And. 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 employment.

Moving together with Icon Mutual Fund

0.66	NI	NiSource	Pair Corr
0.79	SR	Spire Inc	Pair Corr
0.77	EVRG	Evergy,	Pair Corr
0.62	WTRG	Essential Utilities	Pair Corr
0.69	AEE	Ameren Corp	Pair Corr
0.68	AGR	Avangrid	Pair Corr
0.78	ATO	Atmos Energy	Pair Corr
0.8	AVA	Avista	Pair Corr
0.83	BKH	Black Hills	Pair Corr
0.63	CNP	CenterPoint Energy	Pair Corr
0.72	CPK	Chesapeake Utilities	Pair Corr

Moving against Icon Mutual Fund

0.34	DUKB	Duke Energy Corp	Pair Corr
0.32	AES	AES	Pair Corr
0.33	EBR	Centrais Electricas	Pair Corr

Related Correlations Analysis

	ICTUX	RYUTX	EVUAX	FUGAX	ICTTX
ICTUX		0.9	0.71	0.82	0.04	ICTUX
RYUTX	0.9		0.91	0.9	0.12	RYUTX
EVUAX	0.71	0.91		0.7	0.18	EVUAX
FUGAX	0.82	0.9	0.7		0.09	FUGAX
ICTTX	0.04	0.12	0.18	0.09		ICTTX
	ICTUX	RYUTX	EVUAX	FUGAX	ICTTX

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Risk-Adjusted Indicators

There is a big difference between Icon Mutual Fund performing well and Icon Utilities 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 Utilities' 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
ICTUX	0.57	(0.03)	(0.13)	(0.02)	0.67	(0.68)	1.25	(1.35)	2.95
RYUTX	0.75	(0.02)	(0.09)	0.01	0.90	(0.84)	1.70	(1.83)	4.30
EVUAX	0.74	(0.07)	0.00	(0.13)	0.00	0.00	1.55	(1.85)	4.63
FUGAX	0.85	0.05	(0.01)	0.26	0.94	(0.94)	1.87	(2.00)	5.85
ICTTX	0.80	(0.09)	0.00	(0.02)	0.00	0.00	1.35	(1.66)	7.69

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