Voya Target Correlations

VRRFX Fund

USD 11.47 0.02 0.17%

The current 90-days correlation between Voya Target In and Western Asset E is 0.43 (i.e., Very weak diversification). The correlation of Voya Target 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 Target Correlation With Market

Almost no diversification

The correlation between Voya Target In Retirement and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Target In Retirement 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 Target In Retirement. 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 price.

Moving together with Voya Mutual Fund

0.61	ILBAX	Voya Bond Index	Pair Corr
0.88	ILBPX	Voya Limited Maturity	Pair Corr
0.85	ILMBX	Voya Limited Maturity	Pair Corr
0.89	IMBAX	Voya Limited Maturity	Pair Corr
0.88	IMCVX	Voya Multi Manager	Pair Corr
0.74	IMORX	Voya Midcap Opportunities	Pair Corr
0.75	IMOWX	Voya Midcap Opportunities	Pair Corr
0.76	IMOZX	Voya Midcap Opportunities	Pair Corr
0.88	IMYCX	Voya High Yield	Pair Corr
0.87	INGIX	Voya Stock Index	Pair Corr
0.73	INGBX	Voya Global Bond	Pair Corr
0.99	VPISX	Voya Index Solution	Pair Corr
0.97	INTIX	Voya International Index	Pair Corr
0.99	VPSSX	Voya Index Solution	Pair Corr
0.92	VPRSX	Voya Jpmorgan Small	Pair Corr
0.99	VPSAX	Voya Index Solution	Pair Corr
0.81	IOGPX	Vy Oppenheimer Global	Pair Corr
0.85	IOSAX	Voya Global Bond	Pair Corr
0.88	IOSIX	Voya Global Bond	Pair Corr
0.86	IOSSX	Voya Global Bond	Pair Corr
0.92	NAPIX	Voya Multi Manager	Pair Corr
0.91	NARCX	Voya Multi Manager	Pair Corr
0.9	NAWCX	Voya Global Equity	Pair Corr
0.89	NAWGX	Voya Global Equity	Pair Corr
0.9	NAWIX	Voya Global Equity	Pair Corr
0.99	IPARX	Voya Global Perspectives	Pair Corr
0.65	IPIIX	Ing Intermediate Bond	Pair Corr
0.87	IPIMX	Voya High Yield	Pair Corr
0.61	IPISX	Voya Intermediate Bond	Pair Corr
0.99	IPIRX	Voya Global Perspectives	Pair Corr
0.87	IPHYX	Voya High Yield	Pair Corr

Moving against Voya Mutual Fund

0.31

VPRDX

Voya Morgan Stanley

Pair Corr

Related Correlations Analysis

	CABIX	USCAX	BOSVX	DWAFX	AUERX	CNGLX	LMUSX	WACIX
CABIX		0.96	0.95	0.93	0.96	0.96	0.91	0.69	CABIX
USCAX	0.96		0.97	0.87	0.97	0.94	0.92	0.66	USCAX
BOSVX	0.95	0.97		0.9	0.96	0.93	0.9	0.71	BOSVX
DWAFX	0.93	0.87	0.9		0.85	0.89	0.81	0.75	DWAFX
AUERX	0.96	0.97	0.96	0.85		0.91	0.92	0.61	AUERX
CNGLX	0.96	0.94	0.93	0.89	0.91		0.91	0.71	CNGLX
LMUSX	0.91	0.92	0.9	0.81	0.92	0.91		0.66	LMUSX
WACIX	0.69	0.66	0.71	0.75	0.61	0.71	0.66		WACIX
	CABIX	USCAX	BOSVX	DWAFX	AUERX	CNGLX	LMUSX	WACIX

Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Target 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 Target'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
CABIX	0.44	0.12	0.10	(4.01)	0.31	(0.52)	0.88	(0.89)	5.68
USCAX	0.85	0.28	0.23	2.97	0.51	(1.07)	2.13	(1.28)	7.96
BOSVX	1.01	0.31	0.33	0.39	0.44	(1.28)	2.84	(1.49)	9.89
DWAFX	0.81	0.37	0.27	(1.96)	0.58	(0.94)	1.38	(1.16)	15.81
AUERX	0.95	0.30	0.23	0.51	0.73	(1.15)	2.00	(1.80)	14.15
CNGLX	0.59	0.14	0.08	(1.08)	0.62	(0.67)	1.15	(1.19)	5.46
LMUSX	0.65	0.02	0.01	0.10	0.76	(0.68)	1.56	(1.57)	4.94
WACIX	0.16	0.01	(0.30)	0.21	0.08	(0.20)	0.32	(0.22)	0.75

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