Index Plus Correlations

VIPAX Fund

USD 30.12 0.18 0.59%

The current 90-days correlation between Index Plus Largecap and Voya Midcap Opportunities is 0.26 (i.e., Modest diversification). The correlation of Index Plus 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.

Index Plus Correlation With Market

Very weak diversification

The correlation between Index Plus Largecap and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Index Plus Largecap 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 Index Plus Largecap. 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 nation.

Moving together with Index Mutual Fund

0.75	IMOPX	Voya Midcap Opportunities	Pair Corr
0.89	INGIX	Voya Stock Index	Pair Corr
0.76	VPRAX	Voya T Rowe	Pair Corr
0.74	IOGPX	Vy Oppenheimer Global	Pair Corr

Related Correlations Analysis

	ILABX	ILBAX	ILBPX	ILMBX	ILUAX	IMBAX	IMCVX	IMOPX	IMORX	IMOWX
ILABX		0.99	0.72	0.74	0.99	0.76	0.54	-0.28	0.15	0.12	ILABX
ILBAX	0.99		0.74	0.76	0.99	0.78	0.56	-0.29	0.17	0.14	ILBAX
ILBPX	0.72	0.74		0.99	0.68	0.99	0.88	-0.15	0.6	0.57	ILBPX
ILMBX	0.74	0.76	0.99		0.7	0.99	0.87	-0.16	0.58	0.54	ILMBX
ILUAX	0.99	0.99	0.68	0.7		0.73	0.5	-0.31	0.11	0.07	ILUAX
IMBAX	0.76	0.78	0.99	0.99	0.73		0.85	-0.22	0.54	0.5	IMBAX
IMCVX	0.54	0.56	0.88	0.87	0.5	0.85		0.0	0.86	0.83	IMCVX
IMOPX	-0.28	-0.29	-0.15	-0.16	-0.31	-0.22	0.0		0.28	0.37	IMOPX
IMORX	0.15	0.17	0.6	0.58	0.11	0.54	0.86	0.28		0.99	IMORX
IMOWX	0.12	0.14	0.57	0.54	0.07	0.5	0.83	0.37	0.99		IMOWX
	ILABX	ILBAX	ILBPX	ILMBX	ILUAX	IMBAX	IMCVX	IMOPX	IMORX	IMOWX

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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

ILBAX	+ 0.99	ILABX
ILUAX	+ 0.99	ILABX
ILUAX	+ 0.99	ILBAX
ILMBX	+ 0.99	ILBPX
IMBAX	+ 0.99	ILBPX
IMBAX	+ 0.99	ILMBX

High negative correlations

IMOPX	- 0.31	ILUAX
IMOPX	- 0.29	ILBAX
IMOPX	- 0.28	ILABX
IMOPX	- 0.22	IMBAX
IMOPX	- 0.16	ILMBX
IMOPX	- 0.15	ILBPX

Risk-Adjusted Indicators

There is a big difference between Index Mutual Fund performing well and Index Plus 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 Index Plus' 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
ILABX	0.14	0.02	(0.34)	(1.26)	0.00	(0.19)	0.33	(0.22)	0.66
ILBAX	0.14	0.02	(0.30)	(1.17)	0.00	(0.19)	0.33	(0.22)	0.65
ILBPX	0.07	0.01	(0.65)	(0.42)	0.00	(0.14)	0.11	(0.11)	0.53
ILMBX	0.07	0.01	(0.67)	(0.22)	0.00	(0.17)	0.21	(0.10)	0.52
ILUAX	0.14	0.02	(0.33)	(2.82)	0.00	(0.20)	0.33	(0.22)	0.66
IMBAX	0.07	0.01	(0.67)	(0.17)	0.00	(0.16)	0.21	(0.11)	0.53
IMCVX	0.68	0.26	0.35	0.55	0.00	(0.90)	1.60	(0.91)	9.72
IMOPX	0.89	(0.05)	(0.03)	0.04	1.09	(0.97)	1.78	(2.03)	6.80
IMORX	1.28	0.40	0.32	0.63	0.67	(1.56)	1.75	(2.10)	27.97
IMOWX	1.07	0.21	0.17	0.32	0.86	(1.21)	1.80	(2.11)	16.51

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