Voya High Correlations

VHYRX Fund

USD 6.99 0.01 0.14%

The current 90-days correlation between Voya High Yield and Nuveen Arizona Municipal is 0.32 (i.e., Weak 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

Significant diversification

The correlation between Voya High Yield and DJI is 0.02 (i.e., Significant 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

0.75	IMCVX	Voya Multi Manager	Pair Corr
0.72	IMOPX	Voya Midcap Opportunities	Pair Corr
0.71	IMORX	Voya Midcap Opportunities	Pair Corr
0.71	IMOZX	Voya Midcap Opportunities	Pair Corr
0.93	IMYCX	Voya High Yield	Pair Corr
0.75	INGIX	Voya Stock Index	Pair Corr
0.79	VPISX	Voya Index Solution	Pair Corr
0.8	VPRAX	Voya T Rowe	Pair Corr
0.76	VPSSX	Voya Index Solution	Pair Corr
0.78	VPSAX	Voya Index Solution	Pair Corr
0.65	NAWCX	Voya Global Equity	Pair Corr
0.69	NAWIX	Voya Global Equity	Pair Corr
0.76	IPARX	Voya Global Perspectives	Pair Corr
0.76	IPEAX	Voya Large Cap	Pair Corr
0.76	IPEIX	Voya Large Cap	Pair Corr
0.76	IPETX	Voya Large Cap	Pair Corr
0.99	IPIMX	Voya High Yield	Pair Corr
0.73	IPLIX	Voya Index Plus	Pair Corr
0.73	VRLCX	Voya Large Cap	Pair Corr
0.66	IPSIX	Voya Index Plus	Pair Corr
0.66	IPSSX	Voya Index Plus	Pair Corr
0.77	IPSRX	Voya Global Perspectives	Pair Corr
0.77	VRRJX	Voya Target Retirement	Pair Corr
0.74	VRRIX	Voya Target Retirement	Pair Corr
0.61	VRRHX	Voya Target Retirement	Pair Corr
0.78	VRRNX	Voya Target Retirement	Pair Corr

Moving against Voya Mutual Fund

0.41	INGBX	Voya Global Bond	Pair Corr
0.41	IOSAX	Voya Global Bond	Pair Corr
0.4	IOSSX	Voya Global Bond	Pair Corr
0.39	ILUAX	Voya Bond Index	Pair Corr
0.37	ILABX	Voya Bond Index	Pair Corr
0.35	INTIX	Voya International Index	Pair Corr
0.33	IPIIX	Ing Intermediate Bond	Pair Corr

Related Correlations Analysis

	FAZTX	PRFHX	BCHIX	MSTPX	ABIMX	IMLXX	BIDPX
FAZTX		0.96	0.99	0.88	0.98	-0.21	0.9	FAZTX
PRFHX	0.96		0.98	0.87	0.95	-0.12	0.88	PRFHX
BCHIX	0.99	0.98		0.88	0.99	-0.22	0.9	BCHIX
MSTPX	0.88	0.87	0.88		0.87	-0.16	0.97	MSTPX
ABIMX	0.98	0.95	0.99	0.87		-0.31	0.91	ABIMX
IMLXX	-0.21	-0.12	-0.22	-0.16	-0.31		-0.3	IMLXX
BIDPX	0.9	0.88	0.9	0.97	0.91	-0.3		BIDPX
	FAZTX	PRFHX	BCHIX	MSTPX	ABIMX	IMLXX	BIDPX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

BCHIX	+ 0.99	FAZTX
ABIMX	+ 0.99	BCHIX
ABIMX	+ 0.98	FAZTX
BCHIX	+ 0.98	PRFHX
BIDPX	+ 0.97	MSTPX
PRFHX	+ 0.96	FAZTX

High negative correlations

IMLXX	- 0.31	ABIMX
BIDPX	- 0.3	IMLXX
IMLXX	- 0.22	BCHIX
IMLXX	- 0.21	FAZTX
IMLXX	- 0.16	MSTPX
IMLXX	- 0.12	PRFHX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FAZTX	0.14	0.02	(0.33)	(0.21)	0.16	(0.19)	0.30	(0.29)	1.29
PRFHX	0.16	0.03	(0.25)	(0.14)	0.20	(0.23)	0.44	(0.44)	1.61
BCHIX	0.17	0.03	(0.25)	(0.17)	0.21	(0.22)	0.41	(0.40)	1.53
MSTPX	0.11	0.00	(0.32)	0.14	0.14	(0.18)	0.30	(0.30)	1.10
ABIMX	0.19	0.03	(0.23)	(0.14)	0.26	(0.24)	0.40	(0.50)	1.73
IMLXX	0.03	0.01	0.00	(0.37)	0.00	0.00	0.00	0.00	1.01
BIDPX	0.15	0.00	(0.33)	0.14	0.21	(0.18)	0.27	(0.45)	1.36

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