Voya Multi-manager Correlations

Mutual Funds . USA . 
Fund . Voya Multi Manager Emerging
IEMLX Fund  USD 11.26  0.01  0.09%   
The current 90-days correlation between Voya Multi Manager and Voya Bond Index is 0.11 (i.e., Average diversification). The correlation of Voya Multi-manager 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 Multi-manager Correlation With Market

Very weak diversification

The correlation between Voya Multi Manager Emerging and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Multi Manager Emerging 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 Multi Manager Emerging. 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 bureau of economic analysis.

Moving together with Voya Mutual Fund

  0.88ILBPX Voya Limited MaturityPairCorr
  0.88ILMBX Voya Limited MaturityPairCorr
  0.85IMBAX Voya Limited MaturityPairCorr
  0.93IMCVX Voya Multi ManagerPairCorr
  0.94IMOPX Voya Midcap OpportunitiesPairCorr
  0.94IMORX Voya Midcap OpportunitiesPairCorr
  0.95IMOWX Voya Midcap OpportunitiesPairCorr
  0.95IMOZX Voya Midcap OpportunitiesPairCorr
  0.96IMYCX Voya High YieldPairCorr
  0.85INGIX Voya Stock IndexPairCorr
  0.64INGBX Voya Global BondPairCorr
  0.98VPISX Voya Index SolutionPairCorr
  0.94INTIX Voya International IndexPairCorr
  0.98VPSSX Voya Index SolutionPairCorr
  0.72VPRSX Voya Jpmorgan SmallPairCorr
  0.98VPSAX Voya Index SolutionPairCorr
  0.97IOGPX Vy Oppenheimer GlobalPairCorr
  0.73IOSAX Voya Global BondPairCorr
  0.75IOSIX Voya Global BondPairCorr
  0.76IOSSX Voya Global BondPairCorr
  0.98NAPIX Voya Multi ManagerPairCorr
  0.98NARCX Voya Multi ManagerPairCorr
  0.94NAWCX Voya Global EquityPairCorr
  0.94NAWGX Voya Global EquityPairCorr
  0.95NAWIX Voya Global EquityPairCorr
  0.92IPARX Voya Global PerspectivesPairCorr
  0.72IPIIX Ing Intermediate BondPairCorr
  0.97IPIMX Voya High YieldPairCorr
  0.72IPISX Voya Intermediate BondPairCorr
  0.92IPIRX 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 Multi-manager 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 Multi-manager'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)(0.36) 0.04  0.28 
(0.27)
 0.45 
(0.45)
 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  0.01 (1.07) 4.56  0.00 
(0.17)
 0.21 
(0.10)
 0.63 
ILUAX  0.25 (0.01)(0.38) 0.03  0.27 
(0.27)
 0.45 
(0.45)
 1.24 
IMBAX  0.09  0.00 (0.92) 0.00  0.00 
(0.17)
 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  0.94  0.16  0.14  0.28  0.80 
(1.18)
 2.57 
(1.68)
 5.69 
IMORX  0.92  0.16  0.14  0.28  0.78 
(1.08)
 2.60 
(1.76)
 5.77 
IMOWX  0.93  0.16  0.14  0.28  0.80 
(1.09)
 2.60 
(1.85)
 5.83 

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