Voya Asia Correlations

IAE Fund

USD 6.18 0.04 0.64%

The current 90-days correlation between Voya Asia Pacific and New America High is -0.08 (i.e., Good diversification). The correlation of Voya Asia 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.

Voya Asia Correlation With Market

Modest diversification

The correlation between Voya Asia Pacific and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Asia Pacific 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 Voya Asia Pacific. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Voya Fund

0.81	VTISX	Vanguard Total Inter	Pair Corr
0.81	VTSNX	Vanguard Total Inter	Pair Corr
0.81	VTPSX	Vanguard Total Inter	Pair Corr
0.61	HFQCX	Henderson Global Equity	Pair Corr

Moving against Voya Fund

0.53	MMGTX	Msvif Mid Cap	Pair Corr
0.51	CLM	Cornerstone Strategic	Pair Corr
0.49	DFCMX	Dfa Calfrna Shrt	Pair Corr
0.41	WEIAX	Teton Vertible Securities	Pair Corr
0.35	WSHNX	Short Duration Income	Pair Corr
0.58	PXASX	Principal Lifetime 2030	Pair Corr
0.52	GGNPX	Goldman Sachs High	Pair Corr
0.46	FMUSX	Federated Municipal	Pair Corr
0.43	AMLPX	Maingate Mlp	Pair Corr
0.37	LLDYX	Lord Abbett Short	Pair Corr
0.35	CRF	Cornerstone Strategic	Pair Corr

Related Correlations Analysis

	GGT-PE	GAB-PH	NCV-PA	GAB-PG	OXLCO	JGH	TRRPF	FAM	HYB
GGT-PE		0.26	0.47	0.27	0.12	-0.25	-0.12	-0.17	-0.31	GGT-PE
GAB-PH	0.26		0.9	0.96	-0.13	-0.24	-0.92	-0.84	-0.35	GAB-PH
NCV-PA	0.47	0.9		0.9	-0.11	-0.34	-0.77	-0.74	-0.44	NCV-PA
GAB-PG	0.27	0.96	0.9		-0.17	-0.31	-0.91	-0.84	-0.43	GAB-PG
OXLCO	0.12	-0.13	-0.11	-0.17		0.53	0.25	0.44	0.47	OXLCO
JGH	-0.25	-0.24	-0.34	-0.31	0.53		0.18	0.53	0.78	JGH
TRRPF	-0.12	-0.92	-0.77	-0.91	0.25	0.18		0.82	0.3	TRRPF
FAM	-0.17	-0.84	-0.74	-0.84	0.44	0.53	0.82		0.53	FAM
HYB	-0.31	-0.35	-0.44	-0.43	0.47	0.78	0.3	0.53		HYB
	GGT-PE	GAB-PH	NCV-PA	GAB-PG	OXLCO	JGH	TRRPF	FAM	HYB

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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

GAB-PG	+ 0.96	GAB-PH
NCV-PA	+ 0.9	GAB-PH
GAB-PG	+ 0.9	NCV-PA
FAM	+ 0.82	TRRPF
HYB	+ 0.78	JGH
JGH	+ 0.53	OXLCO

High negative correlations

TRRPF	- 0.92	GAB-PH
TRRPF	- 0.91	GAB-PG
FAM	- 0.84	GAB-PG
FAM	- 0.84	GAB-PH
TRRPF	- 0.77	NCV-PA
FAM	- 0.74	NCV-PA

Risk-Adjusted Indicators

There is a big difference between Voya Fund performing well and Voya Asia 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 Voya Asia'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
GGT-PE	0.39	(0.03)	0.00	0.50	0.00	0.00	0.96	(0.87)	3.24
GAB-PH	0.44	(0.13)	0.00	(23.10)	0.00	0.00	0.89	(1.11)	4.14
NCV-PA	0.46	(0.11)	0.00	(0.43)	0.00	0.00	1.13	(1.34)	4.20
GAB-PG	0.57	(0.14)	0.00	(0.45)	0.00	0.00	1.00	(1.35)	3.58
OXLCO	0.33	0.02	(0.13)	(0.10)	0.45	(0.40)	0.93	(1.05)	3.24
JGH	0.41	0.05	(0.04)	0.28	0.46	(0.44)	0.79	(0.86)	3.20
TRRPF	0.65	0.40	0.00	(0.39)	0.00	0.00	0.00	0.00	15.38
FAM	0.55	0.09	0.02	0.86	0.61	(0.65)	1.10	(1.06)	3.16
HYB	0.32	0.03	(0.12)	3.17	0.40	(0.33)	0.62	(0.62)	1.96

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