Voya Multi-manager Correlations

IEMKX Fund

USD 13.50 0.12 0.88%

The current 90-days correlation between Voya Multi Manager and Voya Bond Index is 0.34 (i.e., Weak diversification). The correlation of Voya Multi-manager 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.

Voya Multi-manager Correlation With Market

Modest diversification

The correlation between Voya Multi Manager Emerging and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Multi Manager Emerging 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 Multi Manager Emerging. 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 state.

Moving together with Voya Mutual Fund

0.72	IMOWX	Voya Midcap Opportunities	Pair Corr
0.83	IMYCX	Voya High Yield	Pair Corr
0.8	INGIX	Voya Stock Index	Pair Corr
0.89	VPISX	Voya Index Solution	Pair Corr
0.74	VPRAX	Voya T Rowe	Pair Corr
0.89	VPSSX	Voya Index Solution	Pair Corr
0.78	NARCX	Voya Multi Manager	Pair Corr
0.77	IPIMX	Voya High Yield	Pair Corr
0.9	IPIRX	Voya Global Perspectives	Pair Corr
0.77	IPHYX	Voya High Yield	Pair Corr
0.75	IPLIX	Voya Index Plus	Pair Corr
0.75	IPLSX	Voya Index Plus	Pair Corr

Related Correlations Analysis

	ILABX	ILBAX	ILBPX	ILMBX	ILUAX	IMBAX	IMCVX	IMOPX	IMORX	IMOWX
ILABX		0.66	0.34	0.35	0.65	0.24	0.2	0.55	0.15	0.15	ILABX
ILBAX	0.66		0.44	0.46	0.97	0.48	0.35	0.43	0.28	0.33	ILBAX
ILBPX	0.34	0.44		0.99	0.33	0.9	0.83	0.12	0.76	0.64	ILBPX
ILMBX	0.35	0.46	0.99		0.33	0.9	0.85	0.14	0.78	0.66	ILMBX
ILUAX	0.65	0.97	0.33	0.33		0.35	0.21	0.42	0.15	0.21	ILUAX
IMBAX	0.24	0.48	0.9	0.9	0.35		0.86	0.08	0.79	0.68	IMBAX
IMCVX	0.2	0.35	0.83	0.85	0.21	0.86		0.22	0.98	0.8	IMCVX
IMOPX	0.55	0.43	0.12	0.14	0.42	0.08	0.22		0.26	0.32	IMOPX
IMORX	0.15	0.28	0.76	0.78	0.15	0.79	0.98	0.26		0.85	IMORX
IMOWX	0.15	0.33	0.64	0.66	0.21	0.68	0.8	0.32	0.85		IMOWX
	ILABX	ILBAX	ILBPX	ILMBX	ILUAX	IMBAX	IMCVX	IMOPX	IMORX	IMOWX

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Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Multi-manager 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 Voya Multi-manager'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
ILABX	0.15	(0.02)	0.00	(0.20)	0.00	0.00	0.22	(0.33)	0.87
ILBAX	0.15	(0.02)	0.00	(0.39)	0.00	0.00	0.22	(0.33)	0.66
ILBPX	0.07	0.00	(0.50)	(0.88)	0.00	(0.15)	0.11	(0.11)	0.53
ILMBX	0.06	0.00	(0.50)	0.00	0.00	(0.17)	0.10	(0.10)	0.52
ILUAX	0.15	(0.02)	0.00	(0.52)	0.00	0.00	0.22	(0.33)	0.66
IMBAX	0.06	0.00	(0.51)	0.11	0.00	(0.16)	0.11	(0.11)	0.43
IMCVX	0.70	0.20	0.21	0.67	0.33	(0.94)	1.50	(1.08)	9.64
IMOPX	0.88	(0.03)	0.00	(0.08)	0.00	0.00	1.52	(2.03)	4.13
IMORX	1.29	0.34	0.30	0.34	0.77	(1.73)	1.42	(1.98)	26.71
IMOWX	1.05	0.23	0.16	2.33	0.88	(1.29)	1.44	(1.90)	15.19

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Voya Multi-manager Correlations

Voya Multi-manager Correlation With Market

Modest diversification

Moving together with Voya Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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