Voya Multi-manager Correlations

IMCVX Fund

USD 9.74 0.05 0.51%

The current 90-days correlation between Voya Multi Manager and Qs Large Cap is 0.41 (i.e., Very 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

Weak diversification

The correlation between Voya Multi Manager Mid and DJI is 0.3 (i.e., Weak 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 real.

Moving together with Voya Mutual Fund

0.74	ILABX	Voya Bond Index	Pair Corr
0.72	ILBAX	Voya Bond Index	Pair Corr
0.75	ILUAX	Voya Bond Index	Pair Corr
0.96	IMORX	Voya Midcap Opportunities	Pair Corr
0.85	IMOWX	Voya Midcap Opportunities	Pair Corr
0.89	IMOZX	Voya Midcap Opportunities	Pair Corr
0.72	VPRSX	Voya Jpmorgan Small	Pair Corr
0.86	NAWCX	Voya Global Equity	Pair Corr
0.83	NAWGX	Voya Global Equity	Pair Corr
0.82	NAWIX	Voya Global Equity	Pair Corr
0.61	IPARX	Voya Global Perspectives	Pair Corr
0.76	IPEAX	Voya Large Cap	Pair Corr
0.73	IPESX	Voya Large Cap	Pair Corr
0.76	IPETX	Voya Large Cap	Pair Corr
0.67	IPIRX	Voya Global Perspectives	Pair Corr
0.63	IPMSX	Voya Index Plus	Pair Corr
0.88	VREQX	Voya Real Estate	Pair Corr

Moving against Voya Mutual Fund

0.53	ILBPX	Voya Limited Maturity	Pair Corr
0.53	ILMBX	Voya Limited Maturity	Pair Corr
0.39	IMBAX	Voya Limited Maturity	Pair Corr
0.31	VRLCX	Voya Large Cap	Pair Corr

Related Correlations Analysis

	LMUSX	RHSAX	UPAAX	GGRYX	FMTIX
LMUSX		0.62	0.13	0.73	0.78	LMUSX
RHSAX	0.62		0.61	0.72	0.74	RHSAX
UPAAX	0.13	0.61		0.33	0.47	UPAAX
GGRYX	0.73	0.72	0.33		0.96	GGRYX
FMTIX	0.78	0.74	0.47	0.96		FMTIX
	LMUSX	RHSAX	UPAAX	GGRYX	FMTIX

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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
LMUSX	0.74	0.00	(0.02)	0.08	1.19	(0.70)	1.27	(1.59)	6.30
RHSAX	1.14	0.12	0.02	(0.83)	1.64	(1.24)	2.49	(3.23)	9.80
UPAAX	1.73	0.26	0.07	(5.56)	2.36	(1.91)	3.50	(3.45)	13.88
GGRYX	0.42	0.01	(0.06)	0.13	0.56	(0.47)	0.86	(0.70)	3.17
FMTIX	0.38	0.01	(0.06)	0.12	0.53	(0.39)	0.82	(0.68)	2.93

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