Index Plus Correlations

The current 90-days correlation between Index Plus Largecap and Columbia Convertible Securities is 0.18 (i.e., Average 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

Poor diversification

The correlation between Index Plus Largecap and DJI is 0.69 (i.e., Poor 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. 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

0.62	IMOWX	Voya Midcap Opportunities	Pair Corr
0.61	IMOZX	Voya Midcap Opportunities	Pair Corr
0.82	IMYCX	Voya High Yield	Pair Corr
0.8	INGIX	Voya Stock Index	Pair Corr
0.83	VPISX	Voya Index Solution	Pair Corr
0.73	INTIX	Voya International Index	Pair Corr
0.78	VPRAX	Voya T Rowe	Pair Corr
0.83	VPSSX	Voya Index Solution	Pair Corr
0.78	VPRSX	Voya Jpmorgan Small	Pair Corr
0.88	VPSAX	Voya Index Solution	Pair Corr
0.85	IOGPX	Vy Oppenheimer Global	Pair Corr
0.63	NAPIX	Voya Multi Manager	Pair Corr
0.83	IPARX	Voya Global Perspectives	Pair Corr
0.76	IPEAX	Voya Large Cap	Pair Corr
0.76	IPEIX	Voya Large Cap	Pair Corr
0.81	IPESX	Voya Large Cap	Pair Corr
0.81	IPETX	Voya Large Cap	Pair Corr
0.83	IPIRX	Voya Global Perspectives	Pair Corr

Related Correlations Analysis

	NCIDX	ARBOX	GCV	XNCVX	PBXIX	PCNTX
NCIDX		0.51	0.88	0.92	0.79	0.84	NCIDX
ARBOX	0.51		0.49	0.21	0.58	0.65	ARBOX
GCV	0.88	0.49		0.8	0.75	0.93	GCV
XNCVX	0.92	0.21	0.8		0.68	0.71	XNCVX
PBXIX	0.79	0.58	0.75	0.68		0.78	PBXIX
PCNTX	0.84	0.65	0.93	0.71	0.78		PCNTX
	NCIDX	ARBOX	GCV	XNCVX	PBXIX	PCNTX

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
NCIDX	0.78	0.08	0.00	0.48	0.88	(0.81)	1.68	(1.47)	4.78
ARBOX	0.11	0.07	(0.32)	(2.35)	0.00	(0.20)	0.09	(0.09)	3.52
GCV	0.82	0.00	(0.04)	0.10	0.91	(0.91)	2.13	(1.68)	4.42
XNCVX	0.74	0.02	(0.05)	0.17	0.86	(0.91)	1.60	(1.57)	5.47
PBXIX	0.32	(0.01)	(0.14)	0.08	0.36	(0.34)	0.64	(0.72)	1.63
PCNTX	0.76	0.01	0.00	0.11	0.86	(0.83)	1.58	(1.58)	5.35

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Index Plus Correlations

Index Plus Correlation With Market

Poor diversification

Moving together with Index Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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