Voya Solution Correlations

ISWIX Fund

USD 11.32 0.04 0.35%

The current 90-days correlation between Voya Solution Income and Voya Bond Index is 0.09 (i.e., Significant 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

Weak diversification

The correlation between Voya Solution Income and DJI is 0.31 (i.e., Weak 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 signals in gross domestic product.

Moving together with Voya Mutual Fund

0.74	INGIX	Voya Stock Index	Pair Corr
0.63	VPISX	Voya Index Solution	Pair Corr
0.72	VPRSX	Voya Jpmorgan Small	Pair Corr
0.61	IOGPX	Vy Oppenheimer Global	Pair Corr
0.72	IPARX	Voya Global Perspectives	Pair Corr
0.79	IPEAX	Voya Large Cap	Pair Corr
0.78	IPIMX	Voya High Yield	Pair Corr

Related Correlations Analysis

	ILABX	ILBAX	ILBPX	ILMBX	ILUAX	IMBAX	IMCVX	IMOPX	IMORX	IMOWX
ILABX		0.93	0.02	0.18	0.93	0.0	-0.15	0.18	-0.22	-0.2	ILABX
ILBAX	0.93		0.19	0.18	0.96	0.16	0.03	0.22	-0.04	-0.01	ILBAX
ILBPX	0.02	0.19		0.77	0.03	0.91	0.75	-0.45	0.62	0.56	ILBPX
ILMBX	0.18	0.18	0.77		0.02	0.68	0.51	-0.45	0.38	0.32	ILMBX
ILUAX	0.93	0.96	0.03	0.02		0.0	-0.14	0.24	-0.19	-0.16	ILUAX
IMBAX	0.0	0.16	0.91	0.68	0.0		0.75	-0.32	0.62	0.58	IMBAX
IMCVX	-0.15	0.03	0.75	0.51	-0.14	0.75		-0.13	0.97	0.95	IMCVX
IMOPX	0.18	0.22	-0.45	-0.45	0.24	-0.32	-0.13		-0.03	0.11	IMOPX
IMORX	-0.22	-0.04	0.62	0.38	-0.19	0.62	0.97	-0.03		0.99	IMORX
IMOWX	-0.2	-0.01	0.56	0.32	-0.16	0.58	0.95	0.11	0.99		IMOWX
	ILABX	ILBAX	ILBPX	ILMBX	ILUAX	IMBAX	IMCVX	IMOPX	IMORX	IMOWX

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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

IMOWX	+ 0.99	IMORX
IMORX	+ 0.97	IMCVX
ILUAX	+ 0.96	ILBAX
IMOWX	+ 0.95	IMCVX
ILBAX	+ 0.93	ILABX
ILUAX	+ 0.93	ILABX

High negative correlations

IMOPX	- 0.45	ILMBX
IMOPX	- 0.45	ILBPX
IMOPX	- 0.32	IMBAX
IMORX	- 0.22	ILABX
IMOWX	- 0.2	ILABX
IMORX	- 0.19	ILUAX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ILABX	0.15	(0.01)	(0.40)	(0.27)	0.18	(0.19)	0.22	(0.33)	0.87
ILBAX	0.15	0.00	(0.38)	(0.14)	0.16	(0.18)	0.33	(0.32)	0.98
ILBPX	0.06	0.00	(0.69)	0.40	0.00	(0.14)	0.10	(0.10)	0.53
ILMBX	0.05	0.00	(0.70)	(0.05)	0.00	(0.14)	0.10	(0.10)	0.52
ILUAX	0.15	(0.01)	(0.38)	(0.18)	0.17	(0.18)	0.33	(0.33)	0.98
IMBAX	0.06	0.00	(0.65)	0.00	0.00	(0.14)	0.11	(0.11)	0.43
IMCVX	0.72	0.12	0.10	0.28	0.52	(0.94)	1.50	(1.09)	9.44
IMOPX	0.96	(0.13)	0.00	(0.02)	0.00	0.00	1.52	(2.04)	4.74
IMORX	1.35	0.35	0.26	0.57	0.91	(1.79)	1.73	(1.98)	26.71
IMOWX	1.15	0.15	0.11	0.25	1.04	(1.42)	1.71	(1.94)	15.19

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