Voya Index Correlations

IPLIX Fund  USD 30.94  0.16  0.51%   
The current 90-days correlation between Voya Index Plus and Rbc Global Equity is 0.15 (i.e., Average diversification). The correlation of Voya Index 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 Index Correlation With Market

Weak diversification

The correlation between Voya Index Plus and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Index Plus 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 Index Plus. 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

  0.96IMOPX Voya Midcap OpportunitiesPairCorr
  0.81IMYCX Voya High YieldPairCorr
  0.99INGIX Voya Stock IndexPairCorr
  0.87VPISX Voya Index SolutionPairCorr
  0.91VPRAX Voya T RowePairCorr
  0.87VPSSX Voya Index SolutionPairCorr
  0.67VPRSX Voya Jpmorgan SmallPairCorr
  0.87VPSAX Voya Index SolutionPairCorr
  0.95IOGPX Vy Oppenheimer GlobalPairCorr
  0.68IPARX Voya Global PerspectivesPairCorr
  0.65IPEAX Voya Large CapPairCorr
  0.66IPEIX Voya Large CapPairCorr
  0.66IPESX Voya Large CapPairCorr
  0.66IPETX Voya Large CapPairCorr
  0.79IPIMX Voya High YieldPairCorr
  0.69IPIRX Voya Global PerspectivesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Index 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 Index'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.