Ing Intermediate Correlations

IPIIX Fund

USD 10.90 0.09 0.83%

The current 90-days correlation between Ing Intermediate Bond and Jennison Natural Resources is -0.08 (i.e., Good diversification). The correlation of Ing Intermediate 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.

Ing Intermediate Correlation With Market

Very good diversification

The correlation between Ing Intermediate Bond and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ing Intermediate Bond 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 Ing Intermediate Bond. 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 Ing Mutual Fund

1.0	ILABX	Voya Bond Index	Pair Corr
1.0	ILBAX	Voya Bond Index	Pair Corr
0.61	ILMBX	Voya Limited Maturity	Pair Corr
1.0	ILUAX	Voya Bond Index	Pair Corr
0.98	INGBX	Voya Global Bond	Pair Corr
0.74	INTIX	Voya International Index	Pair Corr
0.98	IOSAX	Voya Global Bond	Pair Corr
0.98	IOSIX	Voya Global Bond	Pair Corr
0.98	IOSSX	Voya Global Bond	Pair Corr
1.0	IPISX	Voya Intermediate Bond	Pair Corr

Moving against Ing Mutual Fund

0.76	IMOPX	Voya Midcap Opportunities	Pair Corr
0.76	IMORX	Voya Midcap Opportunities	Pair Corr
0.76	IMOWX	Voya Midcap Opportunities	Pair Corr
0.76	IMOZX	Voya Midcap Opportunities	Pair Corr
0.72	INGIX	Voya Stock Index	Pair Corr
0.63	VPRSX	Voya Jpmorgan Small	Pair Corr
0.57	VPRAX	Voya T Rowe	Pair Corr
0.51	IMCVX	Voya Multi Manager	Pair Corr
0.5	VPISX	Voya Index Solution	Pair Corr
0.5	VPSSX	Voya Index Solution	Pair Corr
0.5	VPSAX	Voya Index Solution	Pair Corr
0.5	NAWIX	Voya Global Equity	Pair Corr
0.49	NAWGX	Voya Global Equity	Pair Corr
0.47	NAWCX	Voya Global Equity	Pair Corr
0.76	IPLIX	Voya Index Plus	Pair Corr
0.76	IPLSX	Voya Index Plus	Pair Corr
0.76	VRLCX	Voya Large Cap	Pair Corr
0.71	IPEIX	Voya Large Cap	Pair Corr
0.71	IPESX	Voya Large Cap	Pair Corr
0.71	IPMSX	Voya Index Plus	Pair Corr
0.71	IPMIX	Voya Index Plus	Pair Corr
0.7	IPEAX	Voya Large Cap	Pair Corr
0.7	IPETX	Voya Large Cap	Pair Corr

Related Correlations Analysis

	PNRCX	CGAEX	ENPSX	XNDPX	HNRGX	GRHAX	FRNRX
PNRCX		0.46	0.67	0.56	0.7	0.77	0.93	PNRCX
CGAEX	0.46		-0.22	-0.33	-0.16	0.21	0.26	CGAEX
ENPSX	0.67	-0.22		0.95	0.99	0.67	0.87	ENPSX
XNDPX	0.56	-0.33	0.95		0.95	0.73	0.78	XNDPX
HNRGX	0.7	-0.16	0.99	0.95		0.69	0.88	HNRGX
GRHAX	0.77	0.21	0.67	0.73	0.69		0.82	GRHAX
FRNRX	0.93	0.26	0.87	0.78	0.88	0.82		FRNRX
	PNRCX	CGAEX	ENPSX	XNDPX	HNRGX	GRHAX	FRNRX

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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

HNRGX	+ 0.99	ENPSX
XNDPX	+ 0.95	ENPSX
HNRGX	+ 0.95	XNDPX
FRNRX	+ 0.93	PNRCX
FRNRX	+ 0.88	HNRGX
FRNRX	+ 0.87	ENPSX

High negative correlations

XNDPX	- 0.33	CGAEX
ENPSX	- 0.22	CGAEX
HNRGX	- 0.16	CGAEX

Risk-Adjusted Indicators

There is a big difference between Ing Mutual Fund performing well and Ing Intermediate 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 Ing Intermediate'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
PNRCX	0.92	(0.05)	(0.04)	0.07	1.37	(0.86)	2.10	(2.27)	7.19
CGAEX	0.74	(0.08)	0.00	(0.05)	0.00	0.00	1.56	(1.90)	4.71
ENPSX	1.38	0.06	0.04	0.18	1.79	(1.37)	2.58	(3.07)	7.85
XNDPX	0.91	0.12	0.07	0.28	1.04	(0.96)	1.83	(1.89)	4.96
HNRGX	0.92	0.05	0.03	0.18	1.04	(0.98)	1.84	(1.85)	5.32
GRHAX	1.10	0.08	0.05	0.20	1.29	(1.14)	2.55	(1.86)	8.81
FRNRX	0.77	(0.01)	(0.03)	0.11	1.05	(0.80)	1.59	(1.79)	5.19

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