Voya Retirement Correlations

Mutual Funds . USA . 
Fund . Voya Retirement Growth
IRGPX Fund  USD 11.63  0.06  0.52%   
The current 90-days correlation between Voya Retirement Growth and Voya Bond Index is 0.26 (i.e., Modest diversification). The correlation of Voya Retirement 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 Retirement Correlation With Market

Very weak diversification

The correlation between Voya Retirement Growth and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Retirement Growth 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 Retirement Growth. 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 american community survey.

Moving together with Voya Mutual Fund

  0.69ILBPX Voya Limited MaturityPairCorr
  0.73ILMBX Voya Limited MaturityPairCorr
  0.69IMBAX Voya Limited MaturityPairCorr
  0.78IMCVX Voya Multi ManagerPairCorr
  0.81IMOPX Voya Midcap OpportunitiesPairCorr
  0.81IMORX Voya Midcap OpportunitiesPairCorr
  0.81IMOWX Voya Midcap OpportunitiesPairCorr
  0.81IMOZX Voya Midcap OpportunitiesPairCorr
  0.85IMYCX Voya High YieldPairCorr
  0.99INGIX Voya Stock IndexPairCorr
  0.8VPISX Voya Index SolutionPairCorr
  0.84INTIX Voya International IndexPairCorr
  0.75VPRDX Voya Morgan StanleyPairCorr
  0.92VPRAX Voya T RowePairCorr
  0.8VPSSX Voya Index SolutionPairCorr
  0.99VPRSX Voya Jpmorgan SmallPairCorr
  0.78IOGPX Vy Oppenheimer GlobalPairCorr
  0.62IOSAX Voya Global BondPairCorr
  0.62IOSIX Voya Global BondPairCorr
  0.65IOSSX Voya Global BondPairCorr
  0.77NAPIX Voya Multi ManagerPairCorr
  0.78NARCX Voya Multi ManagerPairCorr
  0.84NAWCX Voya Global EquityPairCorr
  0.84NAWGX Voya Global EquityPairCorr
  0.84NAWIX Voya Global EquityPairCorr
  0.95IPARX Voya Global PerspectivesPairCorr
  0.88IPEAX Voya Large CapPairCorr
  0.91IPEIX Voya Large CapPairCorr
  0.9IPESX Voya Large CapPairCorr
  0.89IPETX Voya Large CapPairCorr
  0.84IPIMX Voya High YieldPairCorr
  0.95IPIRX Voya Global PerspectivesPairCorr
  0.84IPHYX Voya High YieldPairCorr
  0.8IPLIX Voya Index PlusPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Retirement 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 Retirement'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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ILABX  0.25 (0.01)(0.36) 0.04  0.28 
(0.27)
 0.45 
(0.45)
 1.24 
ILBAX  0.24 (0.01)(0.36) 0.04  0.26 
(0.27)
 0.45 
(0.55)
 1.12 
ILBPX  0.08  0.01 (0.88)(1.18) 0.00 
(0.16)
 0.21 
(0.11)
 0.63 
ILMBX  0.08  0.01 (1.07) 4.56  0.00 
(0.17)
 0.21 
(0.10)
 0.63 
ILUAX  0.25 (0.01)(0.38) 0.03  0.27 
(0.27)
 0.45 
(0.45)
 1.24 
IMBAX  0.09  0.00 (0.92) 0.00  0.00 
(0.17)
 0.22 
(0.11)
 0.64 
IMCVX  0.65  0.03  0.01  0.17  0.63 
(0.77)
 1.84 
(1.17)
 4.55 
IMOPX  0.94  0.16  0.14  0.28  0.80 
(1.18)
 2.57 
(1.68)
 5.69 
IMORX  0.92  0.16  0.14  0.28  0.78 
(1.08)
 2.60 
(1.76)
 5.77 
IMOWX  0.93  0.16  0.14  0.28  0.80 
(1.09)
 2.60 
(1.85)
 5.83 

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