Voya Solution Correlations

ISWSX Fund  USD 11.27  0.01  0.09%   
The current 90-days correlation between Voya Solution Income and Small Cap Stock is 0.43 (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

Poor diversification

The correlation between Voya Solution Income and DJI is 0.74 (i.e., Poor 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 population.

Moving together with Voya Mutual Fund

  0.72ILBPX Voya Limited MaturityPairCorr
  0.73ILMBX Voya Limited MaturityPairCorr
  0.73IMBAX Voya Limited MaturityPairCorr
  0.77IMCVX Voya Multi ManagerPairCorr
  0.74IMORX Voya Midcap OpportunitiesPairCorr
  0.78IMOWX Voya Midcap OpportunitiesPairCorr
  0.78IMOZX Voya Midcap OpportunitiesPairCorr
  0.89IMYCX Voya High YieldPairCorr
  0.92INGIX Voya Stock IndexPairCorr
  0.97VPISX Voya Index SolutionPairCorr
  0.94INTIX Voya International IndexPairCorr
  0.89VPRAX Voya T RowePairCorr
  0.97VPSSX Voya Index SolutionPairCorr
  0.88VPRSX Voya Jpmorgan SmallPairCorr
  0.97VPSAX Voya Index SolutionPairCorr
  0.91IOGPX Vy Oppenheimer GlobalPairCorr
  0.62IOSIX Voya Global BondPairCorr
  0.81NAPIX Voya Multi ManagerPairCorr
  0.8NARCX Voya Multi ManagerPairCorr
  0.76NAWCX Voya Global EquityPairCorr
  0.76NAWGX Voya Global EquityPairCorr
  0.76NAWIX Voya Global EquityPairCorr
  0.99IPARX Voya Global PerspectivesPairCorr
  0.92IPEAX Voya Large CapPairCorr
  0.92IPEIX Voya Large CapPairCorr
  0.92IPESX Voya Large CapPairCorr
  0.92IPETX Voya Large CapPairCorr
  0.63IPIIX Ing Intermediate BondPairCorr
  0.85IPIMX Voya High YieldPairCorr
  0.99IPIRX 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.