Voya Solution Correlations

Mutual Funds . USA . 
Fund . Voya Solution Servative
ICGSX Fund  USD 10.60  0.02  0.19%   
The current 90-days correlation between Voya Solution Servative and Transamerica Asset Allocation is -0.04 (i.e., Good diversification). The correlation of Voya Solution 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 Solution Correlation With Market

Very poor diversification

The correlation between Voya Solution Servative and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Solution Servative and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Voya Solution Servative. 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 state.

Moving together with Voya Mutual Fund

  0.65ILABX Voya Bond IndexPairCorr
  0.7ILBPX Voya Limited MaturityPairCorr
  0.91ILMBX Voya Limited MaturityPairCorr
  0.61ILUAX Voya Bond IndexPairCorr
  0.89IMBAX Voya Limited MaturityPairCorr
  0.94IMCVX Voya Multi ManagerPairCorr
  0.95IMOPX Voya Midcap OpportunitiesPairCorr
  0.72IMORX Voya Midcap OpportunitiesPairCorr
  0.95IMOWX Voya Midcap OpportunitiesPairCorr
  0.95IMOZX Voya Midcap OpportunitiesPairCorr
  0.96IMYCX Voya High YieldPairCorr
  0.86INGIX Voya Stock IndexPairCorr
  0.67INGBX Voya Global BondPairCorr
  0.98VPISX Voya Index SolutionPairCorr
  0.94INTIX Voya International IndexPairCorr
  0.98VPSSX Voya Index SolutionPairCorr
  0.74VPRSX Voya Jpmorgan SmallPairCorr
  0.98VPSAX Voya Index SolutionPairCorr
  0.97IOGPX Vy Oppenheimer GlobalPairCorr
  0.75IOSAX Voya Global BondPairCorr
  0.76IOSIX Voya Global BondPairCorr
  0.78IOSSX Voya Global BondPairCorr
  0.97NAPIX Voya Multi ManagerPairCorr
  0.97NARCX Voya Multi ManagerPairCorr
  0.95NAWCX Voya Global EquityPairCorr
  0.96NAWGX Voya Global EquityPairCorr
  0.96NAWIX Voya Global EquityPairCorr
  0.93IPARX Voya Global PerspectivesPairCorr
  0.78IPIIX Ing Intermediate BondPairCorr
  0.79IPIMX Voya High YieldPairCorr
  0.79IPISX Voya Intermediate BondPairCorr
  0.93IPIRX Voya Global PerspectivesPairCorr
  0.97IPHYX Voya High YieldPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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