Voya Vacs Correlations

VVIEX Fund

11.46 0.02 0.17%

The current 90-days correlation between Voya Vacs Index and Franklin Mutual Global is 0.62 (i.e., Poor diversification). The correlation of Voya Vacs 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 Vacs Correlation With Market

Weak diversification

The correlation between Voya Vacs Index and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Vacs Index 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 Vacs Index. 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

0.74	NAPIX	Voya Multi Manager	Pair Corr
0.73	NARCX	Voya Multi Manager	Pair Corr

Moving against Voya Mutual Fund

0.45

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Pair Corr

Related Correlations Analysis

	TEDIX	TEPLX	FREEX	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF
TEDIX		0.77	0.28	0.02	0.0	-0.26	0.63	0.33	0.29	0.13	TEDIX
TEPLX	0.77		0.17	-0.24	0.0	-0.27	0.77	0.04	0.37	0.04	TEPLX
FREEX	0.28	0.17		0.04	0.0	-0.25	0.15	0.48	0.26	0.0	FREEX
444859BR2	0.02	-0.24	0.04		0.0	0.3	-0.5	-0.06	-0.55	0.5	444859BR2
AQUI	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.26	-0.27	-0.25	0.3	0.0		-0.44	-0.34	-0.33	-0.07	BRRAY
MSTSX	0.63	0.77	0.15	-0.5	0.0	-0.44		0.27	0.69	-0.06	MSTSX
ABHYX	0.33	0.04	0.48	-0.06	0.0	-0.34	0.27		0.56	-0.14	ABHYX
LBHIX	0.29	0.37	0.26	-0.55	0.0	-0.33	0.69	0.56		-0.38	LBHIX
SCAXF	0.13	0.04	0.0	0.5	0.0	-0.07	-0.06	-0.14	-0.38		SCAXF
	TEDIX	TEPLX	FREEX	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF

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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

TEPLX	+ 0.77	TEDIX
MSTSX	+ 0.77	TEPLX
LBHIX	+ 0.69	MSTSX
MSTSX	+ 0.63	TEDIX
LBHIX	+ 0.56	ABHYX
SCAXF	+ 0.5	444859BR2

High negative correlations

LBHIX	- 0.55	444859BR2
MSTSX	- 0.5	444859BR2
MSTSX	- 0.44	BRRAY
SCAXF	- 0.38	LBHIX
ABHYX	- 0.34	BRRAY
LBHIX	- 0.33	BRRAY

Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Vacs 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 Vacs' 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
TEDIX	0.51	(0.08)	(0.18)	0.01	0.66	(0.50)	0.88	(1.05)	2.77
TEPLX	0.56	(0.10)	(0.17)	0.00	0.70	(0.61)	1.21	(0.87)	3.23
FREEX	0.69	0.05	(0.08)	1.56	0.82	(0.69)	1.17	(1.24)	3.92
444859BR2	1.36	(0.01)	0.00	0.16	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.11)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.03)	(0.13)	0.07	0.50	(0.61)	1.21	(1.02)	2.80
ABHYX	0.18	0.03	(0.23)	(0.15)	0.24	(0.24)	0.34	(0.33)	1.91
LBHIX	0.12	0.01	(0.44)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
SCAXF	0.70	(0.37)	0.00	(19.66)	0.00	0.00	0.00	0.00	23.47

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