Voya Index Correlations

Mutual Funds . USA . 
Fund . Voya Index Plus
IPLSX Fund  USD 30.21  0.11  0.37%   
The current 90-days correlation between Voya Index Plus and Transamerica Funds is -0.16 (i.e., Good 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

Very poor diversification

The correlation between Voya Index Plus and DJI is 0.85 (i.e., Very poor 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 state.

Moving together with Voya Mutual Fund

  0.91IMCVX Voya Multi ManagerPairCorr
  0.98IMOPX Voya Midcap OpportunitiesPairCorr
  0.98IMORX Voya Midcap OpportunitiesPairCorr
  0.98IMOWX Voya Midcap OpportunitiesPairCorr
  0.98IMOZX Voya Midcap OpportunitiesPairCorr
  0.64IMYCX Voya High YieldPairCorr
  0.95INGIX Voya Stock IndexPairCorr
  0.9VPISX Voya Index SolutionPairCorr
  0.95VPRAX Voya T RowePairCorr
  0.9VPSSX Voya Index SolutionPairCorr
  0.93VPRSX Voya Jpmorgan SmallPairCorr
  0.86VPSAX Voya Index SolutionPairCorr
  0.85NAWCX Voya Global EquityPairCorr
  0.8NAWGX Voya Global EquityPairCorr
  0.87NAWIX Voya Global EquityPairCorr
  0.63IPARX Voya Global PerspectivesPairCorr
  0.97IPEAX Voya Large CapPairCorr
  0.94IPEIX Voya Large CapPairCorr
  0.97IPESX Voya Large CapPairCorr
  0.97IPETX Voya Large CapPairCorr
  0.72IPIMX Voya High YieldPairCorr
  0.63IPIRX Voya Global PerspectivesPairCorr
  0.69IPHYX Voya High YieldPairCorr

Moving against Voya Mutual Fund

  0.8INGBX Voya Global BondPairCorr
  0.8IOSAX Voya Global BondPairCorr
  0.8IOSSX Voya Global BondPairCorr
  0.79ILUAX Voya Bond IndexPairCorr
  0.78ILABX Voya Bond IndexPairCorr
  0.78ILBAX Voya Bond IndexPairCorr
  0.76IOSIX Voya Global BondPairCorr
  0.56INTIX Voya International IndexPairCorr
  0.75IPIIX Ing Intermediate BondPairCorr
  0.72IPISX Voya Intermediate BondPairCorr
  0.46VREQX Voya Real EstatePairCorr

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.

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