Vy(r) Invesco Correlations

IVIPX Fund

USD 32.76 0.02 0.06%

The current 90-days correlation between Vy Invesco Equity and Qs Small Capitalization is 0.04 (i.e., Significant diversification). The correlation of Vy(r) Invesco 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.

Vy(r) Invesco Correlation With Market

Almost no diversification

The correlation between Vy Invesco Equity and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vy Invesco Equity 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 Vy Invesco Equity. 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 board of governors.

Moving together with Vy(r) Mutual Fund

0.95	IMYCX	Voya High Yield	Pair Corr
0.95	IPIMX	Voya High Yield	Pair Corr
0.88	VRROX	Voya Target Retirement	Pair Corr
0.94	VRSCX	Voya Smallcap Opport	Pair Corr
0.88	VSSQX	Voya Solution 2065	Pair Corr
0.97	IRMTX	Voya Russelltm Mid	Pair Corr
0.94	IAGIX	Voya Solution Moderately	Pair Corr
0.89	VCFRX	Voya Securitized Credit	Pair Corr
0.68	ITCSX	Vy T Rowe	Pair Corr
0.81	VVIEX	Voya Vacs Index	Pair Corr
0.94	VVICX	Voya Vacs Index	Pair Corr
0.97	VVIMX	Voya Vacs Index	Pair Corr
0.96	VVIIX	Voya Vacs Index	Pair Corr
0.9	VVIFX	Voya Vacs Series Steady Growth	Pair Corr
1.0	IUASX	Vy Invesco Equity	Pair Corr
1.0	IUAAX	Vy Invesco Equity	Pair Corr
0.61	ICRNX	Vy Clarion Global	Pair Corr
0.97	ICSAX	Vy Umbia Small	Pair Corr
1.0	IVGAX	Vy Invesco Growth	Pair Corr
1.0	IVGIX	Vy Invesco Growth	Pair Corr
1.0	IVGSX	Vy Invesco Growth	Pair Corr
0.94	IVPSX	Voya Small Pany	Pair Corr
0.96	IGHSX	Voya Global Equity	Pair Corr
0.76	VIPAX	Index Plus Largecap	Pair Corr
0.89	XSIAX	Ing Senior Incm	Pair Corr
0.99	VLCRX	Voya Large Cap	Pair Corr
0.93	ABALX	American Balanced	Pair Corr
0.94	BALCX	American Balanced	Pair Corr

Moving against Vy(r) Mutual Fund

0.84	TCSUX	Cleartrack 2020 Class	Pair Corr
0.83	TCTGX	Transamerica Cleartrack	Pair Corr
0.83	TCTJX	Transamerica Cleartrack	Pair Corr
0.82	TDKTX	Cleartrack 2015 Class	Pair Corr
0.47	USPSX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	TOIIX	PAEIX	LMUSX	DFVEX	FODJX	DODFX	LMBMX
TOIIX		0.97	0.91	0.94	0.97	0.98	0.96	TOIIX
PAEIX	0.97		0.91	0.95	0.94	0.99	0.94	PAEIX
LMUSX	0.91	0.91		0.93	0.91	0.91	0.94	LMUSX
DFVEX	0.94	0.95	0.93		0.95	0.95	0.94	DFVEX
FODJX	0.97	0.94	0.91	0.95		0.96	0.96	FODJX
DODFX	0.98	0.99	0.91	0.95	0.96		0.94	DODFX
LMBMX	0.96	0.94	0.94	0.94	0.96	0.94		LMBMX
	TOIIX	PAEIX	LMUSX	DFVEX	FODJX	DODFX	LMBMX

Risk-Adjusted Indicators

There is a big difference between Vy(r) Mutual Fund performing well and Vy(r) Invesco 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 Vy(r) Invesco'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
TOIIX	0.63	0.25	0.34	0.38	0.18	(0.76)	1.38	(1.14)	6.58
PAEIX	0.61	0.09	0.09	0.16	0.63	(0.67)	1.29	(1.27)	3.38
LMUSX	0.60	0.04	0.03	0.11	0.74	(0.62)	1.14	(1.35)	4.94
DFVEX	0.57	0.04	0.04	0.09	0.64	(0.63)	1.31	(1.30)	3.57
FODJX	0.47	0.09	0.09	0.65	0.33	(0.54)	1.15	(0.77)	2.94
DODFX	0.53	0.12	0.15	0.23	0.45	(0.61)	1.12	(0.96)	2.43
LMBMX	0.89	0.16	0.10	1.71	0.92	(0.98)	2.18	(1.80)	7.43

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