Voya Index Correlations

Mutual Funds . USA . 
Fund . Voya Index Solution
IDXNX Fund  USD 20.22  0.09  0.45%   
The current 90-days correlation between Voya Index Solution and Cref Money Market is -0.02 (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

Good diversification

The correlation between Voya Index Solution and DJI is -0.07 (i.e., Good 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 board of governors.

Moving together with Voya Mutual Fund

  0.62ILBPX Voya Limited MaturityPairCorr
  0.83ILMBX Voya Limited MaturityPairCorr
  0.78IMBAX Voya Limited MaturityPairCorr
  0.7IMCVX Voya Multi ManagerPairCorr
  0.69IMOPX Voya Midcap OpportunitiesPairCorr
  0.69IMORX Voya Midcap OpportunitiesPairCorr
  0.98IMOWX Voya Midcap OpportunitiesPairCorr
  0.98IMOZX Voya Midcap OpportunitiesPairCorr
  0.66IMYCX Voya High YieldPairCorr
  0.8INGIX Voya Stock IndexPairCorr
  1.0VPISX Voya Index SolutionPairCorr
  0.96INTIX Voya International IndexPairCorr
  1.0VPSSX Voya Index SolutionPairCorr
  0.63VPRSX Voya Jpmorgan SmallPairCorr
  0.74VPSAX Voya Index SolutionPairCorr
  0.99IOGPX Vy Oppenheimer GlobalPairCorr
  0.62IOSAX Voya Global BondPairCorr
  0.64IOSIX Voya Global BondPairCorr
  0.65IOSSX Voya Global BondPairCorr
  0.72NAPIX Voya Multi ManagerPairCorr
  0.98NARCX Voya Multi ManagerPairCorr
  0.97NAWCX Voya Global EquityPairCorr
  0.97NAWGX Voya Global EquityPairCorr
  0.97NAWIX Voya Global EquityPairCorr
  0.9IPARX Voya Global PerspectivesPairCorr
  0.63IPIIX Ing Intermediate BondPairCorr
  0.68IPIMX Voya High YieldPairCorr
  0.64IPISX Voya Intermediate BondPairCorr
  0.89IPIRX Voya Global PerspectivesPairCorr
  0.96IPHYX Voya High YieldPairCorr

Related Correlations Analysis

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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.

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