Voya Solution Correlations

Mutual Funds . USA . 
Fund . Voya Solution Income
ISWAX Fund  USD 11.01  0.03  0.27%   
The current 90-days correlation between Voya Solution Income and Balanced Allocation Fund is 0.44 (i.e., Very weak diversification). The correlation of Voya Solution 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 Solution Correlation With Market

Almost no diversification

The correlation between Voya Solution Income and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Solution Income 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 Solution Income. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with VOYA Mutual Fund

  0.71ILBPX Voya Limited MaturityPairCorr
  0.71ILMBX Voya Limited MaturityPairCorr
  0.72IMBAX Voya Limited MaturityPairCorr
  0.77IMCVX Voya Multi ManagerPairCorr
  0.62IMOPX Voya Midcap OpportunitiesPairCorr
  0.74IMORX Voya Midcap OpportunitiesPairCorr
  0.78IMOWX Voya Midcap OpportunitiesPairCorr
  0.79IMOZX Voya Midcap OpportunitiesPairCorr
  0.88IMYCX Voya High YieldPairCorr
  0.9INGIX Voya Stock IndexPairCorr
  0.97VPISX Voya Index SolutionPairCorr
  0.93INTIX Voya International IndexPairCorr
  0.89VPRAX Voya T RowePairCorr
  0.97VPSSX Voya Index SolutionPairCorr
  0.89VPRSX Voya Jpmorgan SmallPairCorr
  0.97VPSAX Voya Index SolutionPairCorr
  0.92IOGPX Vy Oppenheimer GlobalPairCorr
  0.73IOSIX Voya Global BondPairCorr
  0.69IOSSX Voya Global BondPairCorr
  0.81NAPIX Voya Multi ManagerPairCorr
  0.8NARCX Voya Multi ManagerPairCorr
  0.75NAWCX Voya Global EquityPairCorr
  0.75NAWGX Voya Global EquityPairCorr
  0.76NAWIX Voya Global EquityPairCorr
  0.98IPARX Voya Global PerspectivesPairCorr
  0.92IPEAX Voya Large CapPairCorr
  0.92IPEIX Voya Large CapPairCorr
  0.92IPESX Voya Large CapPairCorr
  0.92IPETX Voya Large CapPairCorr
  0.61IPIIX Ing Intermediate BondPairCorr
  0.84IPIMX Voya High YieldPairCorr
  0.98IPIRX Voya Global PerspectivesPairCorr
  0.86IPHYX Voya High YieldPairCorr
  0.9IPMSX Voya Index PlusPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between VOYA Mutual Fund performing well and Voya Solution 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 Solution'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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