Voya Multi-manager Correlations

IMCVX Fund

USD 9.80 0.16 1.66%

The current 90-days correlation between Voya Multi Manager and Legg Mason Bw is 0.11 (i.e., Average 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

Very poor diversification

The correlation between Voya Multi Manager Mid and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Multi Manager Mid 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 Mid. 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 small area income & poverty estimates.

Moving together with Voya Mutual Fund

0.9	ILBPX	Voya Limited Maturity	Pair Corr
0.89	ILMBX	Voya Limited Maturity	Pair Corr
0.88	IMBAX	Voya Limited Maturity	Pair Corr
0.95	IMORX	Voya Midcap Opportunities	Pair Corr
0.94	IMOWX	Voya Midcap Opportunities	Pair Corr
0.92	IMOZX	Voya Midcap Opportunities	Pair Corr
0.88	IMYCX	Voya High Yield	Pair Corr
0.73	INGIX	Voya Stock Index	Pair Corr
0.87	VPISX	Voya Index Solution	Pair Corr
0.92	INTIX	Voya International Index	Pair Corr
0.87	VPSSX	Voya Index Solution	Pair Corr
0.88	VPRSX	Voya Jpmorgan Small	Pair Corr
0.87	VPSAX	Voya Index Solution	Pair Corr
0.75	IOGPX	Vy Oppenheimer Global	Pair Corr
0.72	IOSAX	Voya Global Bond	Pair Corr
0.75	IOSIX	Voya Global Bond	Pair Corr
0.71	IOSSX	Voya Global Bond	Pair Corr
0.98	NAPIX	Voya Multi Manager	Pair Corr
0.98	NARCX	Voya Multi Manager	Pair Corr
0.97	NAWCX	Voya Global Equity	Pair Corr
0.98	NAWGX	Voya Global Equity	Pair Corr
0.97	NAWIX	Voya Global Equity	Pair Corr
0.87	IPARX	Voya Global Perspectives	Pair Corr
0.65	IPEIX	Voya Large Cap	Pair Corr
0.62	IPESX	Voya Large Cap	Pair Corr
0.62	IPETX	Voya Large Cap	Pair Corr
0.87	IPIMX	Voya High Yield	Pair Corr
0.88	IPIRX	Voya Global Perspectives	Pair Corr
0.88	IPHYX	Voya High Yield	Pair Corr

Related Correlations Analysis

	FDBLX	FAFMX	SWSFX	LSHEX	BXDCX	VBISX	GOBAX
FDBLX		0.59	0.86	0.57	0.83	0.83	0.67	FDBLX
FAFMX	0.59		0.64	0.79	0.73	0.71	0.7	FAFMX
SWSFX	0.86	0.64		0.62	0.89	0.86	0.84	SWSFX
LSHEX	0.57	0.79	0.62		0.77	0.56	0.82	LSHEX
BXDCX	0.83	0.73	0.89	0.77		0.87	0.86	BXDCX
VBISX	0.83	0.71	0.86	0.56	0.87		0.68	VBISX
GOBAX	0.67	0.7	0.84	0.82	0.86	0.68		GOBAX
	FDBLX	FAFMX	SWSFX	LSHEX	BXDCX	VBISX	GOBAX

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
FDBLX	0.12	0.00	(0.40)	0.16	0.00	(0.18)	0.35	(0.24)	0.71
FAFMX	0.07	0.00	(0.53)	0.27	0.00	(0.13)	0.19	(0.09)	0.75
SWSFX	0.05	0.01	0.00	0.62	0.00	0.00	0.10	(0.10)	0.49
LSHEX	2.04	0.38	0.17	0.48	1.83	(2.39)	6.01	(3.02)	14.38
BXDCX	0.05	0.00	(0.64)	(0.36)	0.00	(0.13)	0.11	(0.11)	0.43
VBISX	0.09	0.00	(0.73)	0.19	0.00	(0.14)	0.29	(0.10)	0.49
GOBAX	0.26	0.02	(0.19)	1.51	0.23	(0.30)	0.55	(0.45)	1.64

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Voya Multi-manager Correlations

Voya Multi-manager Correlation With Market

Very poor diversification

Moving together with Voya Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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