Voya High Correlations

Mutual Funds . USA . 
Fund . Voya High Yield
VHYRX Fund  USD 6.98  0.01  0.14%   
The current 90-days correlation between Voya High Yield and Vanguard High Yield Corporate is 0.86 (i.e., Very poor diversification). The correlation of Voya High 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 High Correlation With Market

Modest diversification

The correlation between Voya High Yield and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya High Yield and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Voya High Yield. 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 metropolitan statistical area.

Moving together with Voya Mutual Fund

  0.81ILBPX Voya Limited MaturityPairCorr
  0.83ILMBX Voya Limited MaturityPairCorr
  0.85IMBAX Voya Limited MaturityPairCorr
  0.8IMOPX Voya Midcap OpportunitiesPairCorr
  0.98IMYCX Voya High YieldPairCorr
  0.77INGIX Voya Stock IndexPairCorr
  0.7VPISX Voya Index SolutionPairCorr
  0.82VPRAX Voya T RowePairCorr
  0.72VPSSX Voya Index SolutionPairCorr
  0.69VPSAX Voya Index SolutionPairCorr
  0.8IOGPX Vy Oppenheimer GlobalPairCorr
  1.0IPIMX Voya High YieldPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya High 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 High'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VWEAX  0.12  0.01 (0.33) 0.36  0.00 
(0.28)
 0.37 
(0.19)
 1.11 
VWEHX  0.12  0.01 (0.33)(2.73) 0.00 
(0.28)
 0.37 
(0.19)
 1.11 
BHYCX  0.14  0.02 (0.26)(0.65) 0.09 
(0.23)
 0.42 
(0.28)
 1.40 
BHYIX  0.14  0.01 (0.22) 0.42  0.09 
(0.22)
 0.28 
(0.28)
 1.54 
BHYSX  0.15  0.01 (0.27) 0.33  0.08 
(0.22)
 0.43 
(0.28)
 1.26 
BHYAX  0.15  0.01 (0.25) 0.30  0.11 
(0.24)
 0.43 
(0.28)
 1.54 
FAHHX  0.14  0.02 (0.28) 0.34  0.00 
(0.17)
 0.41 
(0.31)
 0.83 
FTAHX  0.15  0.02 (0.27) 0.37  0.04 
(0.18)
 0.41 
(0.31)
 1.03 
AHTFX  0.15  0.02 (0.28) 0.36  0.02 
(0.18)
 0.51 
(0.31)
 1.03 
AHTCX  0.15  0.01 (0.29) 0.29  0.07 
(0.18)
 0.31 
(0.31)
 0.93 

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY