Voya Target Correlations

VTREX Fund

USD 13.69 0.14 1.03%

The current 90-days correlation between Voya Target Retirement and Vanguard Target Retirement is 0.8 (i.e., Very poor 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

Poor diversification

The correlation between Voya Target Retirement and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Target 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 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 income.

Moving together with Voya Mutual Fund

0.86	IMCVX	Voya Multi Manager	Pair Corr
0.64	IMOPX	Voya Midcap Opportunities	Pair Corr
0.64	IMORX	Voya Midcap Opportunities	Pair Corr
0.64	IMOWX	Voya Midcap Opportunities	Pair Corr
0.64	IMOZX	Voya Midcap Opportunities	Pair Corr
0.78	IMYCX	Voya High Yield	Pair Corr
0.76	INGIX	Voya Stock Index	Pair Corr
0.92	VPISX	Voya Index Solution	Pair Corr
0.73	VPRDX	Voya Morgan Stanley	Pair Corr
0.85	VPRAX	Voya T Rowe	Pair Corr
0.91	VPSSX	Voya Index Solution	Pair Corr
0.73	VPRSX	Voya Jpmorgan Small	Pair Corr
0.92	VPSAX	Voya Index Solution	Pair Corr
0.76	NAWCX	Voya Global Equity	Pair Corr
0.75	NAWGX	Voya Global Equity	Pair Corr
0.75	NAWIX	Voya Global Equity	Pair Corr
0.98	IPARX	Voya Global Perspectives	Pair Corr
0.7	IPEAX	Voya Large Cap	Pair Corr
0.7	IPEIX	Voya Large Cap	Pair Corr
0.7	IPESX	Voya Large Cap	Pair Corr
0.7	IPETX	Voya Large Cap	Pair Corr
0.73	IPIMX	Voya High Yield	Pair Corr
0.98	IPIRX	Voya Global Perspectives	Pair Corr

Related Correlations Analysis

	VTHRX	AAETX	CCETX	FAETX	FSNQX	FFFEX	FGTKX	TRFHX	RRTCX
VTHRX		0.98	0.97	0.98	0.95	0.95	0.96	0.98	0.98	VTHRX
AAETX	0.98		1.0	1.0	0.97	0.97	0.97	0.95	0.95	AAETX
CCETX	0.97	1.0		1.0	0.98	0.98	0.98	0.93	0.94	CCETX
FAETX	0.98	1.0	1.0		0.97	0.97	0.97	0.94	0.95	FAETX
FSNQX	0.95	0.97	0.98	0.97		1.0	1.0	0.88	0.89	FSNQX
FFFEX	0.95	0.97	0.98	0.97	1.0		1.0	0.88	0.89	FFFEX
FGTKX	0.96	0.97	0.98	0.97	1.0	1.0		0.89	0.9	FGTKX
TRFHX	0.98	0.95	0.93	0.94	0.88	0.88	0.89		1.0	TRFHX
RRTCX	0.98	0.95	0.94	0.95	0.89	0.89	0.9	1.0		RRTCX
	VTHRX	AAETX	CCETX	FAETX	FSNQX	FFFEX	FGTKX	TRFHX	RRTCX

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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
VTHRX	0.34	(0.03)	(0.19)	0.05	0.41	(0.33)	0.76	(0.70)	2.01
AAETX	0.31	(0.03)	(0.22)	0.04	0.38	(0.33)	0.63	(0.72)	1.84
CCETX	0.31	(0.04)	(0.22)	0.03	0.38	(0.34)	0.63	(0.75)	1.84
FAETX	0.31	(0.03)	(0.20)	0.04	0.38	(0.34)	0.64	(0.73)	1.80
FSNQX	0.37	(0.04)	(0.21)	0.02	0.48	(0.37)	0.87	(0.92)	2.14
FFFEX	0.37	(0.04)	(0.21)	0.02	0.48	(0.37)	0.87	(0.92)	2.14
FGTKX	0.37	(0.04)	(0.21)	0.02	0.45	(0.40)	0.87	(0.88)	2.13
TRFHX	0.34	(0.03)	(0.17)	0.05	0.43	(0.36)	0.67	(0.78)	2.10
RRTCX	0.35	(0.03)	(0.18)	0.05	0.43	(0.37)	0.65	(0.73)	2.09

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Voya Target Correlations

Voya Target Correlation With Market

Poor diversification

Moving together with Voya Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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