Voya Limited Correlations

IMBAX Fund

USD 9.28 0.01 0.11%

The current 90-days correlation between Voya Limited Maturity and Voya Bond Index is 0.74 (i.e., Poor 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

Very good diversification

The correlation between Voya Limited Maturity and DJI is -0.26 (i.e., Very good 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 nation.

Moving together with Voya Mutual Fund

0.98	ILBPX	Voya Limited Maturity	Pair Corr
0.98	ILMBX	Voya Limited Maturity	Pair Corr
0.62	IMYCX	Voya High Yield	Pair Corr

Related Correlations Analysis

	ILABX	ILBAX	ILUAX	IMCDX	IMCVX	IMOPX	IMORX
ILABX		1.0	1.0	0.0	-0.54	-0.78	-0.78	ILABX
ILBAX	1.0		1.0	0.0	-0.54	-0.77	-0.77	ILBAX
ILUAX	1.0	1.0		0.0	-0.55	-0.78	-0.78	ILUAX
IMCDX	0.0	0.0	0.0		0.0	0.0	0.0	IMCDX
IMCVX	-0.54	-0.54	-0.55	0.0		0.87	0.87	IMCVX
IMOPX	-0.78	-0.77	-0.78	0.0	0.87		1.0	IMOPX
IMORX	-0.78	-0.77	-0.78	0.0	0.87	1.0		IMORX
	ILABX	ILBAX	ILUAX	IMCDX	IMCVX	IMOPX	IMORX

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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

ILBAX	+ 1.0	ILABX
ILUAX	+ 1.0	ILABX
ILUAX	+ 1.0	ILBAX
IMORX	+ 1.0	IMOPX
IMOPX	+ 0.87	IMCVX
IMORX	+ 0.87	IMCVX

High negative correlations

IMORX	- 0.78	ILUAX
IMOPX	- 0.78	ILUAX
IMORX	- 0.78	ILABX
IMOPX	- 0.78	ILABX
IMORX	- 0.77	ILBAX
IMOPX	- 0.77	ILBAX

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
ILABX	0.22	(0.03)	0.00	0.46	0.00	0.00	0.44	(0.66)	1.54
ILBAX	0.22	(0.03)	0.00	0.36	0.00	0.00	0.44	(0.55)	1.54
ILUAX	0.22	(0.03)	0.00	0.43	0.00	0.00	0.43	(0.55)	1.54
IMCDX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IMCVX	0.58	(0.01)	(0.05)	0.11	0.52	(0.69)	1.33	(0.99)	3.59
IMOPX	0.77	0.13	0.13	0.24	0.70	(0.94)	1.86	(1.33)	4.41
IMORX	0.77	0.13	0.14	0.24	0.66	(0.93)	1.95	(1.34)	4.38

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