Voya Large Correlations

IPEIX Fund

USD 6.16 0.03 0.48%

The current 90-days correlation between Voya Large Cap and James Balanced Golden is 0.49 (i.e., Very weak diversification). The correlation of Voya Large 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 Large Correlation With Market

Very poor diversification

The correlation between Voya Large Cap and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Large Cap 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 Large Cap. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Voya Mutual Fund

0.99	VVIAX	Vanguard Value Index	Pair Corr
0.94	AWSHX	Washington Mutual	Pair Corr
0.94	WSHCX	Washington Mutual	Pair Corr
0.97	WSHFX	Washington Mutual	Pair Corr
0.94	FWWMX	American Funds Washington	Pair Corr
0.94	FWMMX	American Funds Washington	Pair Corr
0.91	DODGX	Dodge Stock Fund	Pair Corr
0.91	AMFFX	American Mutual	Pair Corr
0.79	AMFCX	American Mutual	Pair Corr
0.83	SMPSX	Semiconductor Ultrasector	Pair Corr
0.71	SMPIX	Semiconductor Ultrasector	Pair Corr
0.92	RSNYX	Victory Global Natural	Pair Corr
0.92	RSNRX	Victory Global Natural	Pair Corr
0.9	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.79	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.79	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.79	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.92	RGNCX	Victory Global Natural	Pair Corr
0.79	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.68	WMT	Walmart Common Stock	Pair Corr
0.8	AA	Alcoa Corp	Pair Corr

Moving against Voya Mutual Fund

0.38	AMRMX	American Mutual	Pair Corr
0.56	T	ATT Inc Earnings Call This Week	Pair Corr
0.46	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	UNWPX	XGGNX	USERX	IOGYX	OCMAX	UIPMX	GLRIX
UNWPX		0.98	0.99	0.99	0.99	0.99	0.91	UNWPX
XGGNX	0.98		0.98	0.98	0.98	0.98	0.9	XGGNX
USERX	0.99	0.98		1.0	1.0	0.99	0.89	USERX
IOGYX	0.99	0.98	1.0		1.0	1.0	0.89	IOGYX
OCMAX	0.99	0.98	1.0	1.0		1.0	0.91	OCMAX
UIPMX	0.99	0.98	0.99	1.0	1.0		0.88	UIPMX
GLRIX	0.91	0.9	0.89	0.89	0.91	0.88		GLRIX
	UNWPX	XGGNX	USERX	IOGYX	OCMAX	UIPMX	GLRIX

Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Large 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 Large'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
UNWPX	1.73	0.51	0.24	0.58	1.55	(2.09)	4.14	(3.09)	8.29
XGGNX	0.66	0.27	0.29	0.87	0.20	(0.83)	1.93	(0.95)	3.42
USERX	1.74	0.68	0.32	0.91	1.41	(2.08)	4.66	(3.75)	9.48
IOGYX	1.59	0.57	0.27	0.79	1.44	(1.78)	4.28	(3.65)	9.61
OCMAX	1.45	0.61	0.33	1.04	1.11	(1.70)	4.36	(3.18)	8.53
UIPMX	1.62	0.59	0.28	0.90	1.49	(1.91)	4.42	(4.08)	10.17
GLRIX	0.37	0.09	0.13	0.26	0.00	(0.45)	0.72	(0.54)	4.82

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