Voya Global Correlations

Mutual Funds . USA . 
Fund . Voya Global Bond
IOSSX Fund  USD 8.27  0.01  0.12%   
The current 90-days correlation between Voya Global Bond and Franklin Natural Resources is -0.24 (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 -0.08 (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 state.

Moving together with Voya Mutual Fund

  0.83ILABX Voya Bond IndexPairCorr
  0.88ILBAX Voya Bond IndexPairCorr
  0.86ILBPX Voya Limited MaturityPairCorr
  0.88ILMBX Voya Limited MaturityPairCorr
  0.82ILUAX Voya Bond IndexPairCorr
  0.85IMBAX Voya Limited MaturityPairCorr
  0.61IMOWX Voya Midcap OpportunitiesPairCorr
  0.61IMOZX Voya Midcap OpportunitiesPairCorr
  0.73IMYCX Voya High YieldPairCorr
  0.66INGIX Voya Stock IndexPairCorr
  0.91INGBX Voya Global BondPairCorr
  0.68VPISX Voya Index SolutionPairCorr
  0.68INTIX Voya International IndexPairCorr
  0.68VPSSX Voya Index SolutionPairCorr
  0.68VPSAX Voya Index SolutionPairCorr
  0.66IOGPX Vy Oppenheimer GlobalPairCorr
  1.0IOSAX Voya Global BondPairCorr
  1.0IOSIX Voya Global BondPairCorr
  0.74NAPIX Voya Multi ManagerPairCorr
  0.75NARCX Voya Multi ManagerPairCorr
  0.68NAWCX Voya Global EquityPairCorr
  0.68NAWGX Voya Global EquityPairCorr
  0.71NAWIX Voya Global EquityPairCorr
  0.71IPARX Voya Global PerspectivesPairCorr
  0.88IPIIX Ing Intermediate BondPairCorr
  0.74IPIMX Voya High YieldPairCorr
  0.88IPISX Voya Intermediate BondPairCorr
  0.71IPIRX Voya Global PerspectivesPairCorr
  0.75IPHYX 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 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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