Voya Index Correlations

Mutual Funds . USA . 
Fund . Voya Index Solution
IDXSX Fund  USD 21.59  0.12  0.56%   
The current 90-days correlation between Voya Index Solution and Voya Bond Index is -0.07 (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

Very poor diversification

The correlation between Voya Index Solution and DJI is 0.89 (i.e., Very poor 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 state.

Moving together with Voya Mutual Fund

  0.85ILBPX Voya Limited MaturityPairCorr
  0.67ILMBX Voya Limited MaturityPairCorr
  0.63IMBAX Voya Limited MaturityPairCorr
  0.97IMCVX Voya Multi ManagerPairCorr
  0.67IMOPX Voya Midcap OpportunitiesPairCorr
  0.98IMORX Voya Midcap OpportunitiesPairCorr
  0.74IMOWX Voya Midcap OpportunitiesPairCorr
  0.74IMOZX Voya Midcap OpportunitiesPairCorr
  0.97IMYCX Voya High YieldPairCorr
  0.77INGIX Voya Stock IndexPairCorr
  0.74VPISX Voya Index SolutionPairCorr
  0.77INTIX Voya International IndexPairCorr
  0.74VPSSX Voya Index SolutionPairCorr
  0.65VPRSX Voya Jpmorgan SmallPairCorr
  1.0VPSAX Voya Index SolutionPairCorr
  0.73IOGPX Vy Oppenheimer GlobalPairCorr
  0.98NAPIX Voya Multi ManagerPairCorr
  0.73NARCX Voya Multi ManagerPairCorr
  0.76NAWCX Voya Global EquityPairCorr
  0.76NAWGX Voya Global EquityPairCorr
  0.76NAWIX Voya Global EquityPairCorr
  0.81IPARX Voya Global PerspectivesPairCorr
  0.97IPIMX Voya High YieldPairCorr
  0.81IPIRX Voya Global PerspectivesPairCorr
  0.77IPHYX 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 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  0.24  0.01 (0.35)(0.39) 0.25 
(0.27)
 0.45 
(0.44)
 1.24 
ILBAX  0.24 (0.01)(0.36) 0.04  0.26 
(0.27)
 0.45 
(0.55)
 1.12 
ILBPX  0.08  0.01 (0.88)(1.18) 0.00 
(0.16)
 0.21 
(0.11)
 0.63 
ILMBX  0.08  0.00 (1.09) 1.05  0.00 
(0.18)
 0.21 
(0.10)
 0.63 
ILUAX  0.24  0.01 (0.38) 2.93  0.25 
(0.26)
 0.45 
(0.45)
 1.24 
IMBAX  0.09  0.00 (0.94) 0.00  0.00 
(0.18)
 0.22 
(0.11)
 0.64 
IMCVX  0.65  0.03  0.01  0.17  0.63 
(0.77)
 1.84 
(1.17)
 4.55 
IMOPX  0.89  0.36  0.25 (20.71) 0.45 
(1.21)
 2.57 
(1.02)
 5.69 
IMORX  0.92  0.16  0.14  0.28  0.78 
(1.08)
 2.60 
(1.76)
 5.77 
IMOWX  0.89  0.35  0.25  6.43  0.49 
(1.09)
 2.60 
(0.93)
 5.83 

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