Voya Large Correlations

IPEIX Fund

USD 6.06 0.06 1.00%

The current 90-days correlation between Voya Large Cap and T Rowe Price is 0.06 (i.e., Significant 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 0.81 (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 signals in gross domestic product.

Moving together with Voya Mutual Fund

0.81	ILBPX	Voya Limited Maturity	Pair Corr
0.83	ILMBX	Voya Limited Maturity	Pair Corr
0.83	IMBAX	Voya Limited Maturity	Pair Corr
0.68	IMCVX	Voya Multi Manager	Pair Corr
0.87	IMYCX	Voya High Yield	Pair Corr
0.84	INGIX	Voya Stock Index	Pair Corr
0.86	VPISX	Voya Index Solution	Pair Corr
0.75	INTIX	Voya International Index	Pair Corr
0.85	VPSSX	Voya Index Solution	Pair Corr
0.85	VPSAX	Voya Index Solution	Pair Corr
0.74	IOGPX	Vy Oppenheimer Global	Pair Corr
0.72	NAPIX	Voya Multi Manager	Pair Corr
0.7	NARCX	Voya Multi Manager	Pair Corr
0.73	NAWCX	Voya Global Equity	Pair Corr
0.74	NAWGX	Voya Global Equity	Pair Corr
0.75	NAWIX	Voya Global Equity	Pair Corr
0.81	IPARX	Voya Global Perspectives	Pair Corr
1.0	IPEAX	Voya Large Cap	Pair Corr
1.0	IPESX	Voya Large Cap	Pair Corr
1.0	IPETX	Voya Large Cap	Pair Corr
0.89	IPIMX	Voya High Yield	Pair Corr
0.82	IPIRX	Voya Global Perspectives	Pair Corr
0.89	IPHYX	Voya High Yield	Pair Corr

Moving against Voya Mutual Fund

0.33

VPRDX

Voya Morgan Stanley

Pair Corr

Related Correlations Analysis

	PATFX	CFNLX	RGVAX	SGYAX	TIMTX	MSTBX	XAFBX	GHVIX
PATFX		0.9	0.53	0.09	0.87	0.55	0.59	0.34	PATFX
CFNLX	0.9		0.49	0.45	0.99	0.76	0.23	0.67	CFNLX
RGVAX	0.53	0.49		0.19	0.48	0.62	0.41	0.35	RGVAX
SGYAX	0.09	0.45	0.19		0.48	0.51	-0.47	0.9	SGYAX
TIMTX	0.87	0.99	0.48	0.48		0.77	0.17	0.7	TIMTX
MSTBX	0.55	0.76	0.62	0.51	0.77		-0.06	0.73	MSTBX
XAFBX	0.59	0.23	0.41	-0.47	0.17	-0.06		-0.32	XAFBX
GHVIX	0.34	0.67	0.35	0.9	0.7	0.73	-0.32		GHVIX
	PATFX	CFNLX	RGVAX	SGYAX	TIMTX	MSTBX	XAFBX	GHVIX

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

TIMTX	+ 0.99	CFNLX
CFNLX	+ 0.9	PATFX
GHVIX	+ 0.9	SGYAX
TIMTX	+ 0.87	PATFX
MSTBX	+ 0.77	TIMTX
MSTBX	+ 0.76	CFNLX

High negative correlations

XAFBX	- 0.47	SGYAX
GHVIX	- 0.32	XAFBX
XAFBX	- 0.06	MSTBX

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
PATFX	0.09	0.01	(0.32)	(0.79)	0.00	(0.12)	0.18	(0.18)	0.72
CFNLX	0.06	0.01	(0.48)	4.17	0.00	(0.09)	0.11	(0.05)	0.48
RGVAX	0.13	0.00	(0.30)	0.00	0.12	(0.16)	0.25	(0.25)	0.83
SGYAX	0.13	0.00	(0.24)	0.04	0.02	(0.26)	0.29	(0.29)	1.00
TIMTX	0.07	0.02	(0.28)	(1.53)	0.00	(0.12)	0.19	(0.09)	0.56
MSTBX	0.07	0.00	(0.28)	(0.63)	0.07	(0.13)	0.20	(0.10)	0.81
XAFBX	0.13	0.00	(0.21)	(0.59)	0.13	(0.17)	0.25	(0.33)	1.16
GHVIX	0.12	0.00	(0.24)	0.09	0.00	(0.15)	0.29	(0.23)	0.77

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