Voya Global Correlations

IGD Fund

USD 5.48 0.03 0.55%

The current 90-days correlation between Voya Global Equity and Eaton Vance Tax is 0.59 (i.e., Very weak diversification). The correlation of Voya Global 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 Global Correlation With Market

Average diversification

The correlation between Voya Global Equity and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Global Equity 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 Global Equity. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Voya Fund

0.62	NEA	Nuveen Amt Free	Pair Corr
0.61	NVG	Nuveen Amt Free	Pair Corr
0.63	NAD	Nuveen Dividend Advantage	Pair Corr
0.67	BMGAX	Blackrock Mid Cap	Pair Corr
0.64	ICMBX	Intrepid Capital	Pair Corr
0.63	CTIGX	Calamos Timpani Smid	Pair Corr
0.64	ADKSX	Adirondack Small Cap	Pair Corr

Related Correlations Analysis

	ETW	ETY	ETB	ETV	EXG	HYI	EHI	HIX	IGA	ETJ
ETW		0.67	0.52	0.56	0.86	0.55	0.65	0.57	0.6	0.69	ETW
ETY	0.67		0.96	0.96	0.33	0.2	0.53	0.11	0.44	0.86	ETY
ETB	0.52	0.96		0.98	0.16	0.11	0.48	0.01	0.41	0.82	ETB
ETV	0.56	0.96	0.98		0.21	0.12	0.49	0.08	0.44	0.83	ETV
EXG	0.86	0.33	0.16	0.21		0.62	0.56	0.73	0.66	0.35	EXG
HYI	0.55	0.2	0.11	0.12	0.62		0.58	0.66	0.38	0.22	HYI
EHI	0.65	0.53	0.48	0.49	0.56	0.58		0.46	0.44	0.56	EHI
HIX	0.57	0.11	0.01	0.08	0.73	0.66	0.46		0.67	0.19	HIX
IGA	0.6	0.44	0.41	0.44	0.66	0.38	0.44	0.67		0.45	IGA
ETJ	0.69	0.86	0.82	0.83	0.35	0.22	0.56	0.19	0.45		ETJ
	ETW	ETY	ETB	ETV	EXG	HYI	EHI	HIX	IGA	ETJ

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Risk-Adjusted Indicators

There is a big difference between Voya Fund performing well and Voya Global 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 Global'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
ETW	0.53	0.00	(0.02)	0.02	0.72	(0.51)	1.10	(1.32)	3.23
ETY	0.56	0.06	0.05	0.29	0.65	(0.63)	1.48	(1.24)	4.39
ETB	0.42	0.09	0.12	0.65	0.41	(0.45)	1.03	(0.95)	3.11
ETV	0.53	0.08	0.08	0.66	0.51	(0.60)	1.18	(1.21)	3.27
EXG	0.56	0.01	(0.01)	0.05	0.79	(0.59)	1.10	(1.22)	4.25
HYI	0.47	(0.01)	(0.04)	(0.03)	0.55	(0.52)	0.93	(0.92)	2.57
EHI	0.59	0.02	0.01	0.09	0.66	(0.67)	1.22	(1.20)	3.03
HIX	0.57	(0.03)	0.00	(0.05)	0.00	0.00	1.18	(1.17)	3.97
IGA	0.50	0.01	(0.01)	0.09	0.64	(0.56)	1.19	(1.09)	3.74
ETJ	0.52	(0.01)	(0.03)	(0.02)	0.64	(0.52)	0.97	(0.98)	2.96

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Voya Global Correlations

Voya Global Correlation With Market

Average diversification

Moving together with Voya Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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