Voya Large Correlations

IPESX Fund

USD 6.40 0.04 0.63%

The current 90-days correlation between Voya Large Cap and Columbia Real Estate is 0.38 (i.e., 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

Almost no diversification

The correlation between Voya Large Cap and DJI is 0.93 (i.e., Almost no 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 state.

Moving together with Voya Mutual Fund

0.93	IMCVX	Voya Multi Manager	Pair Corr
0.98	IMOPX	Voya Midcap Opportunities	Pair Corr
0.97	IMORX	Voya Midcap Opportunities	Pair Corr
0.98	IMOWX	Voya Midcap Opportunities	Pair Corr
0.98	IMOZX	Voya Midcap Opportunities	Pair Corr
0.71	IMYCX	Voya High Yield	Pair Corr
0.97	INGIX	Voya Stock Index	Pair Corr
0.87	VPISX	Voya Index Solution	Pair Corr
0.93	VPRAX	Voya T Rowe	Pair Corr
0.86	VPSSX	Voya Index Solution	Pair Corr
0.92	VPRSX	Voya Jpmorgan Small	Pair Corr
0.87	VPSAX	Voya Index Solution	Pair Corr
0.91	NAWCX	Voya Global Equity	Pair Corr
0.92	NAWGX	Voya Global Equity	Pair Corr
0.93	NAWIX	Voya Global Equity	Pair Corr
0.64	IPARX	Voya Global Perspectives	Pair Corr
1.0	IPEAX	Voya Large Cap	Pair Corr
1.0	IPEIX	Voya Large Cap	Pair Corr
1.0	IPETX	Voya Large Cap	Pair Corr
0.8	IPIMX	Voya High Yield	Pair Corr
0.66	IPIRX	Voya Global Perspectives	Pair Corr
0.78	IPHYX	Voya High Yield	Pair Corr

Moving against Voya Mutual Fund

0.78	INGBX	Voya Global Bond	Pair Corr
0.78	IOSAX	Voya Global Bond	Pair Corr
0.77	IOSIX	Voya Global Bond	Pair Corr
0.77	IOSSX	Voya Global Bond	Pair Corr
0.74	ILUAX	Voya Bond Index	Pair Corr
0.73	ILABX	Voya Bond Index	Pair Corr
0.73	ILBAX	Voya Bond Index	Pair Corr
0.62	INTIX	Voya International Index	Pair Corr
0.71	IPIIX	Ing Intermediate Bond	Pair Corr
0.71	IPISX	Voya Intermediate Bond	Pair Corr
0.43	VREQX	Voya Real Estate	Pair Corr

Related Correlations Analysis

	CREYX	PNDIX	PHRAX	GURPX	MSURX	FIKMX
CREYX		0.35	0.99	0.97	0.69	0.83	CREYX
PNDIX	0.35		0.39	0.17	0.72	-0.01	PNDIX
PHRAX	0.99	0.39		0.96	0.74	0.81	PHRAX
GURPX	0.97	0.17	0.96		0.59	0.84	GURPX
MSURX	0.69	0.72	0.74	0.59		0.47	MSURX
FIKMX	0.83	-0.01	0.81	0.84	0.47		FIKMX
	CREYX	PNDIX	PHRAX	GURPX	MSURX	FIKMX

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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

PHRAX	+ 0.99	CREYX
GURPX	+ 0.97	CREYX
GURPX	+ 0.96	PHRAX
FIKMX	+ 0.84	GURPX
FIKMX	+ 0.83	CREYX
FIKMX	+ 0.81	PHRAX

High negative correlations

FIKMX

- 0.01

PNDIX

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
CREYX	0.68	0.05	(0.05)	0.32	0.75	(0.76)	1.43	(1.31)	3.74
PNDIX	0.04	0.02	0.00	(2.66)	0.00	0.00	0.10	0.00	0.10
PHRAX	0.67	0.06	(0.04)	0.50	0.72	(0.79)	1.34	(1.27)	3.61
GURPX	0.59	0.03	(0.09)	0.27	0.63	(0.70)	1.28	(1.10)	3.33
MSURX	0.46	0.10	(0.05)	(1.03)	0.35	(0.75)	1.16	(0.83)	3.64
FIKMX	0.21	0.01	(0.35)	0.80	0.21	(0.23)	0.49	(0.41)	1.40

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