Voya International Correlations

Mutual Funds . USA . 
Fund . Voya International Index
INTIX Fund  USD 12.78  0.05  0.39%   
The current 90-days correlation between Voya International Index and Columbia Government Mortgage is 0.27 (i.e., Modest diversification). The correlation of Voya International 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 International Correlation With Market

Very weak diversification

The correlation between Voya International Index and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya International 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 International 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 gross domestic product.

Moving together with Voya Mutual Fund

  0.84ILBPX Voya Limited MaturityPairCorr
  0.87ILMBX Voya Limited MaturityPairCorr
  0.83IMBAX Voya Limited MaturityPairCorr
  0.92IMCVX Voya Multi ManagerPairCorr
  0.96IMOPX Voya Midcap OpportunitiesPairCorr
  0.96IMORX Voya Midcap OpportunitiesPairCorr
  0.96IMOWX Voya Midcap OpportunitiesPairCorr
  0.96IMOZX Voya Midcap OpportunitiesPairCorr
  0.96IMYCX Voya High YieldPairCorr
  0.89INGIX Voya Stock IndexPairCorr
  0.96VPISX Voya Index SolutionPairCorr
  0.96VPSSX Voya Index SolutionPairCorr
  0.79VPRSX Voya Jpmorgan SmallPairCorr
  0.96VPSAX Voya Index SolutionPairCorr
  0.96IOGPX Vy Oppenheimer GlobalPairCorr
  0.67IOSAX Voya Global BondPairCorr
  0.68IOSIX Voya Global BondPairCorr
  0.7IOSSX Voya Global BondPairCorr
  0.97NAPIX Voya Multi ManagerPairCorr
  0.97NARCX Voya Multi ManagerPairCorr
  0.99NAWCX Voya Global EquityPairCorr
  0.99NAWGX Voya Global EquityPairCorr
  0.99NAWIX Voya Global EquityPairCorr
  0.95IPARX Voya Global PerspectivesPairCorr
  0.64IPIIX Ing Intermediate BondPairCorr
  0.96IPIMX Voya High YieldPairCorr
  0.64IPISX Voya Intermediate BondPairCorr
  0.95IPIRX 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 International 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 International'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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