Voya Us Correlations

ILABX Fund

USD 8.98 0.02 0.22%

The current 90-days correlation between Voya Bond Index and The Hartford Inflation is 0.3 (i.e., Weak diversification). The correlation of Voya Us 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 Us Correlation With Market

Good diversification

The correlation between Voya Bond Index and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Bond Index 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 Bond Index. 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 labor statistics.

Moving together with Voya Mutual Fund

0.96	VBTLX	Vanguard Total Bond	Pair Corr
0.94	VBMFX	Vanguard Total Bond	Pair Corr
0.96	VBTIX	Vanguard Total Bond	Pair Corr
0.94	VTBSX	Vanguard Total Bond	Pair Corr
0.94	VTBIX	Vanguard Total Bond	Pair Corr
0.94	VTBNX	Vanguard Total Bond	Pair Corr
0.95	FBOFX	American Funds	Pair Corr
0.95	FFBOX	American Funds	Pair Corr
0.96	BFAFX	Bond Fund	Pair Corr
0.97	ABNDX	Bond Fund	Pair Corr

Moving against Voya Mutual Fund

0.52	WMT	Walmart Aggressive Push	Pair Corr
0.44	JPM	JPMorgan Chase	Pair Corr
0.34	AXP	American Express	Pair Corr
0.34	HD	Home Depot Earnings Call This Week	Pair Corr

Related Correlations Analysis

	HIPSX	TCILX	FLIBX	PFRMX	ABNZX	ANBIX
HIPSX		0.91	0.96	0.55	0.95	0.95	HIPSX
TCILX	0.91		0.93	0.52	0.88	0.88	TCILX
FLIBX	0.96	0.93		0.39	0.94	0.95	FLIBX
PFRMX	0.55	0.52	0.39		0.48	0.47	PFRMX
ABNZX	0.95	0.88	0.94	0.48		1.0	ABNZX
ANBIX	0.95	0.88	0.95	0.47	1.0		ANBIX
	HIPSX	TCILX	FLIBX	PFRMX	ABNZX	ANBIX

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Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Us 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 Us' 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HIPSX	0.22	0.02	0.42	(0.62)	0.21	(0.26)	0.50	(0.49)	1.58
TCILX	0.22	0.03	0.47	8.30	0.17	(0.26)	0.49	(0.38)	1.53
FLIBX	0.27	0.02	0.40	(0.67)	0.29	(0.30)	0.54	(0.53)	1.80
PFRMX	0.33	0.06	0.26	0.26	0.49	(0.39)	0.72	(0.60)	2.69
ABNZX	0.21	0.02	0.42	(1.11)	0.23	(0.25)	0.48	(0.39)	1.83
ANBIX	0.22	0.02	0.38	(1.45)	0.25	(0.25)	0.48	(0.47)	1.81

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