Voya Limited Correlations

ILBPX Fund

USD 9.49 0.01 0.11%

The current 90-days correlation between Voya Limited Maturity and Conservative Balanced Allocation is -0.08 (i.e., Good diversification). The correlation of Voya Limited 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 Limited Correlation With Market

Significant diversification

The correlation between Voya Limited Maturity and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Limited Maturity 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 Limited Maturity. 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 american community survey.

Moving together with Voya Mutual Fund

0.9	ILMBX	Voya Limited Maturity	Pair Corr
0.99	IMBAX	Voya Limited Maturity	Pair Corr
0.79	IMYCX	Voya High Yield	Pair Corr
0.66	VPRDX	Voya Morgan Stanley	Pair Corr
0.75	IPIMX	Voya High Yield	Pair Corr
0.77	IPHYX	Voya High Yield	Pair Corr

Related Correlations Analysis

	SCAAX	BICPX	DTICX	ADX	PGFCX	PQCNX	LIGFX
SCAAX		0.21	0.2	0.84	0.66	-0.45	0.95	SCAAX
BICPX	0.21		0.72	-0.22	0.78	0.75	0.43	BICPX
DTICX	0.2	0.72		-0.12	0.74	0.59	0.37	DTICX
ADX	0.84	-0.22	-0.12		0.28	-0.74	0.71	ADX
PGFCX	0.66	0.78	0.74	0.28		0.28	0.81	PGFCX
PQCNX	-0.45	0.75	0.59	-0.74	0.28		-0.22	PQCNX
LIGFX	0.95	0.43	0.37	0.71	0.81	-0.22		LIGFX
	SCAAX	BICPX	DTICX	ADX	PGFCX	PQCNX	LIGFX

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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

LIGFX	+ 0.95	SCAAX
ADX	+ 0.84	SCAAX
LIGFX	+ 0.81	PGFCX
PGFCX	+ 0.78	BICPX
PQCNX	+ 0.75	BICPX
PGFCX	+ 0.74	DTICX

High negative correlations

PQCNX	- 0.74	ADX
PQCNX	- 0.45	SCAAX
LIGFX	- 0.22	PQCNX
ADX	- 0.22	BICPX
ADX	- 0.12	DTICX

Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Limited 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 Limited'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
SCAAX	0.29	0.03	(0.15)	4.59	0.24	(0.35)	0.70	(0.54)	1.41
BICPX	0.19	(0.01)	0.00	(0.55)	0.00	0.00	0.44	(0.43)	1.21
DTICX	0.08	0.00	(0.54)	(0.26)	0.01	(0.14)	0.13	(0.13)	0.64
ADX	0.64	(0.01)	(0.02)	0.08	0.87	(0.65)	1.32	(1.19)	3.51
PGFCX	0.23	0.02	(0.21)	0.87	0.21	(0.28)	0.48	(0.48)	1.43
PQCNX	0.23	(0.04)	0.00	(0.59)	0.00	0.00	0.46	(0.69)	1.40
LIGFX	0.25	0.02	(0.21)	1.02	0.23	(0.29)	0.62	(0.50)	1.31

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