Voya Floating Correlations

Mutual Funds USA . 
Fund . Voya Floating Rate
IFRCX Fund  USD 7.96  0.01  0.13%   
The current 90-days correlation between Voya Floating Rate and Calamos Dynamic Convertible is 0.22 (i.e., Modest diversification). The correlation of Voya Floating 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 Floating Correlation With Market

Average diversification

The correlation between Voya Floating Rate and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Floating Rate 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 Floating Rate. 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 main economic indicators.

Moving together with Voya Mutual Fund

  0.78ILBPX Voya Limited MaturityPairCorr
  0.82ILMBX Voya Limited MaturityPairCorr
  0.77IMBAX Voya Limited MaturityPairCorr
  0.84IMCVX Voya Multi ManagerPairCorr
  0.94IMOPX Voya Midcap OpportunitiesPairCorr
  0.94IMORX Voya Midcap OpportunitiesPairCorr
  0.94IMOWX Voya Midcap OpportunitiesPairCorr
  0.94IMOZX Voya Midcap OpportunitiesPairCorr
  0.94IMYCX Voya High YieldPairCorr
  0.86INGIX Voya Stock IndexPairCorr
  0.9VPISX Voya Index SolutionPairCorr
  0.94INTIX Voya International IndexPairCorr
  0.9VPSSX Voya Index SolutionPairCorr
  0.76VPRSX Voya Jpmorgan SmallPairCorr
  0.9VPSAX Voya Index SolutionPairCorr
  0.91IOGPX Vy Oppenheimer GlobalPairCorr
  0.89NAPIX Voya Multi ManagerPairCorr
  0.9NARCX Voya Multi ManagerPairCorr
  0.92NAWCX Voya Global EquityPairCorr
  0.92NAWGX Voya Global EquityPairCorr
  0.92NAWIX Voya Global EquityPairCorr
  0.92IPARX Voya Global PerspectivesPairCorr
  0.94IPIMX Voya High YieldPairCorr
  0.92IPIRX Voya Global PerspectivesPairCorr
  0.94IPHYX Voya High YieldPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
VAADX
+ 1.0
LCFYX
XNCVX
+ 1.0
LCFYX
XNCVX
+ 1.0
VAADX
VAADX
+ 0.96
FSAWX
FSAWX
+ 0.95
LCFYX
XNCVX
+ 0.95
FSAWX
  
High negative correlations   
LCFYX
- 0.2
CCD
XNCVX
- 0.19
CCD
VAADX
- 0.19
CCD
FSAWX
- 0.13
CCD

Risk-Adjusted Indicators

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