Voya Global Correlations

Mutual Funds . USA . 
Fund . Voya Global Bond
IOSIX Fund  USD 8.31  0.03  0.36%   
The current 90-days correlation between Voya Global Bond and Vanguard Information Technology is -0.22 (i.e., Very good diversification). The correlation of Voya Global 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 Global Correlation With Market

Good diversification

The correlation between Voya Global Bond and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Global Bond 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 Global Bond. 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

  0.83ILABX Voya Bond IndexPairCorr
  0.83ILBAX Voya Bond IndexPairCorr
  0.92ILBPX Voya Limited MaturityPairCorr
  0.89ILMBX Voya Limited MaturityPairCorr
  0.81ILUAX Voya Bond IndexPairCorr
  0.9IMBAX Voya Limited MaturityPairCorr
  0.69IMCVX Voya Multi ManagerPairCorr
  0.72IMOPX Voya Midcap OpportunitiesPairCorr
  0.72IMORX Voya Midcap OpportunitiesPairCorr
  0.72IMOWX Voya Midcap OpportunitiesPairCorr
  0.72IMOZX Voya Midcap OpportunitiesPairCorr
  0.81IMYCX Voya High YieldPairCorr
  0.76INGIX Voya Stock IndexPairCorr
  0.98INGBX Voya Global BondPairCorr
  0.78VPISX Voya Index SolutionPairCorr
  0.79INTIX Voya International IndexPairCorr
  0.64VPRDX Voya Morgan StanleyPairCorr
  0.78VPRAX Voya T RowePairCorr
  0.78VPSSX Voya Index SolutionPairCorr
  0.72VPRSX Voya Jpmorgan SmallPairCorr
  0.78VPSAX Voya Index SolutionPairCorr
  0.76IOGPX Vy Oppenheimer GlobalPairCorr
  1.0IOSAX Voya Global BondPairCorr
  1.0IOSSX Voya Global BondPairCorr
  0.84NAPIX Voya Multi ManagerPairCorr
  0.84NARCX Voya Multi ManagerPairCorr
  0.78NAWCX Voya Global EquityPairCorr
  0.78NAWGX Voya Global EquityPairCorr
  0.78NAWIX Voya Global EquityPairCorr
  0.8IPARX Voya Global PerspectivesPairCorr
  0.76IPEAX Voya Large CapPairCorr
  0.76IPEIX Voya Large CapPairCorr
  0.76IPESX Voya Large CapPairCorr
  0.76IPETX Voya Large CapPairCorr
  0.89IPIIX Ing Intermediate BondPairCorr
  0.82IPIMX Voya High YieldPairCorr
  0.89IPISX Voya Intermediate BondPairCorr
  0.8IPIRX Voya Global PerspectivesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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