Voya Index Correlations

Mutual Funds . USA . 
Fund . Voya Index Solution
IDXHX Fund  USD 17.75  0.04  0.23%   
The current 90-days correlation between Voya Index Solution and Voya Bond Index is -0.13 (i.e., Good 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

Average diversification

The correlation between Voya Index Solution and DJI is 0.13 (i.e., Average 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 Risk vs Return Analysis 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 rate.

Moving together with Voya Mutual Fund

  0.64IMOPX Voya Midcap OpportunitiesPairCorr
  0.64IMORX Voya Midcap OpportunitiesPairCorr
  0.63IMOWX Voya Midcap OpportunitiesPairCorr
  0.96IMOZX Voya Midcap OpportunitiesPairCorr
  0.95IMYCX Voya High YieldPairCorr
  0.67INGIX Voya Stock IndexPairCorr
  1.0VPISX Voya Index SolutionPairCorr
  1.0VPSSX Voya Index SolutionPairCorr
  1.0VPSAX Voya Index SolutionPairCorr
  0.99IOGPX Vy Oppenheimer GlobalPairCorr
  0.7IOSIX Voya Global BondPairCorr
  0.98NAPIX Voya Multi ManagerPairCorr
  0.98NARCX Voya Multi ManagerPairCorr
  0.95NAWCX Voya Global EquityPairCorr
  0.97NAWGX Voya Global EquityPairCorr
  0.96NAWIX Voya Global EquityPairCorr
  0.91IPARX Voya Global PerspectivesPairCorr
  0.68IPIIX Ing Intermediate BondPairCorr
  0.66IPIMX Voya High YieldPairCorr
  0.67IPIRX Voya Global PerspectivesPairCorr

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 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ILABX  0.25  0.01 (0.45) 1.39  0.25 
(0.28)
 0.45 
(0.44)
 1.24 
ILBAX  0.24  0.01 (0.43) 0.45  0.23 
(0.28)
 0.45 
(0.55)
 1.12 
ILBPX  0.08  0.01 (1.12) 1.13  0.00 
(0.16)
 0.21 
(0.11)
 0.63 
ILMBX  0.08  0.00 (1.39) 0.00  0.00 
(0.17)
 0.21 
(0.10)
 0.63 
ILUAX  0.24  0.00 (0.51) 0.08  0.27 
(0.26)
 0.34 
(0.45)
 1.23 
IMBAX  0.09  0.00 (1.20)(1.71) 0.00 
(0.17)
 0.22 
(0.11)
 0.64 
IMCVX  0.61  0.06 (0.02) 0.26  0.51 
(0.76)
 1.58 
(0.95)
 4.50 
IMOPX  0.84  0.15  0.12  0.37  0.55 
(1.09)
 2.26 
(1.02)
 5.69 
IMORX  0.83  0.15  0.12  0.37  0.56 
(0.99)
 2.19 
(0.91)
 5.77 
IMOWX  0.79  0.23  0.07 (67.28) 0.61 
(0.94)
 2.05 
(0.93)
 5.83 

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