Voya Index Correlations

Mutual Funds . USA . 
Fund . Voya Index Solution
VPSAX Fund  USD 19.26  0.25  1.28%   
The current 90-days correlation between Voya Index Solution and Versatile Bond Portfolio is 0.4 (i.e., Very weak diversification). The correlation of Voya Index 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 Index Correlation With Market

Almost no diversification

The correlation between Voya Index Solution and DJI is 0.96 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Index Solution 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 Index Solution. 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 Voya Mutual Fund

  0.62ILBAX Voya Bond IndexPairCorr
  0.87ILBPX Voya Limited MaturityPairCorr
  0.87ILMBX Voya Limited MaturityPairCorr
  0.85IMBAX Voya Limited MaturityPairCorr
  0.89IMCVX Voya Multi ManagerPairCorr
  0.76IMORX Voya Midcap OpportunitiesPairCorr
  0.77IMOWX Voya Midcap OpportunitiesPairCorr
  0.77IMOZX Voya Midcap OpportunitiesPairCorr
  0.91IMYCX Voya High YieldPairCorr
  0.89INGIX Voya Stock IndexPairCorr
  0.75INGBX Voya Global BondPairCorr
  1.0VPISX Voya Index SolutionPairCorr
  0.97INTIX Voya International IndexPairCorr
  1.0VPSSX Voya Index SolutionPairCorr
  0.94VPRSX Voya Jpmorgan SmallPairCorr
  0.87IOGPX Vy Oppenheimer GlobalPairCorr
  0.83IOSAX Voya Global BondPairCorr
  0.83IOSIX Voya Global BondPairCorr
  0.82IOSSX Voya Global BondPairCorr
  0.92NAPIX Voya Multi ManagerPairCorr
  0.91NARCX Voya Multi ManagerPairCorr
  0.9NAWCX Voya Global EquityPairCorr
  0.9NAWGX Voya Global EquityPairCorr
  0.9NAWIX Voya Global EquityPairCorr
  0.99IPARX Voya Global PerspectivesPairCorr
  0.66IPIIX Ing Intermediate BondPairCorr
  0.93IPIMX Voya High YieldPairCorr
  0.61IPISX Voya Intermediate BondPairCorr
  0.99IPIRX Voya Global PerspectivesPairCorr
  0.92IPHYX Voya High YieldPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Index 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 Index'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.

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