Voya Solution Correlations

ISWIX Fund  USD 11.43  0.03  0.26%   
The current 90-days correlation between Voya Solution Income and Aqr Risk Balanced Modities is 0.35 (i.e., 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 signals in gross domestic product.

Moving together with Voya Mutual Fund

  0.75ILBPX Voya Limited MaturityPairCorr
  0.75ILMBX Voya Limited MaturityPairCorr
  0.77IMBAX Voya Limited MaturityPairCorr
  0.8IMCVX Voya Multi ManagerPairCorr
  0.63IMOPX Voya Midcap OpportunitiesPairCorr
  0.75IMORX Voya Midcap OpportunitiesPairCorr
  0.79IMOWX Voya Midcap OpportunitiesPairCorr
  0.8IMOZX Voya Midcap OpportunitiesPairCorr
  0.89IMYCX Voya High YieldPairCorr
  0.91INGIX Voya Stock IndexPairCorr
  0.98VPISX Voya Index SolutionPairCorr
  0.95INTIX Voya International IndexPairCorr
  0.89VPRAX Voya T RowePairCorr
  0.98VPSSX Voya Index SolutionPairCorr
  0.9VPRSX Voya Jpmorgan SmallPairCorr
  0.98VPSAX Voya Index SolutionPairCorr
  0.84IOGPX Vy Oppenheimer GlobalPairCorr
  0.73IOSAX Voya Global BondPairCorr
  0.8IOSIX Voya Global BondPairCorr
  0.76IOSSX Voya Global BondPairCorr
  0.84NAPIX Voya Multi ManagerPairCorr
  0.83NARCX Voya Multi ManagerPairCorr
  0.79NAWCX Voya Global EquityPairCorr
  0.79NAWGX Voya Global EquityPairCorr
  0.79NAWIX Voya Global EquityPairCorr
  0.98IPARX Voya Global PerspectivesPairCorr
  0.93IPEAX Voya Large CapPairCorr
  0.93IPEIX Voya Large CapPairCorr
  0.93IPESX Voya Large CapPairCorr
  0.93IPETX Voya Large CapPairCorr
  0.62IPIIX Ing Intermediate BondPairCorr
  0.84IPIMX Voya High YieldPairCorr
  0.98IPIRX Voya Global PerspectivesPairCorr
  0.87IPHYX Voya High YieldPairCorr

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.