Vy Umbia Correlations

Mutual Funds . USA . 
Fund . Vy Umbia Contrarian
ISCSX Fund  USD 17.32  0.08  0.46%   
The current 90-days correlation between Vy Umbia Contrarian and Voya Bond Index is -0.06 (i.e., Good diversification). The correlation of Vy Umbia 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.

Vy Umbia Correlation With Market

Very poor diversification

The correlation between Vy Umbia Contrarian and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vy Umbia Contrarian 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 Vy Umbia Contrarian. 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 ISCSX Mutual Fund

  0.85ILBPX Voya Limited MaturityPairCorr
  0.85ILMBX Voya Limited MaturityPairCorr
  0.82IMBAX Voya Limited MaturityPairCorr
  0.96IMCVX Voya Multi ManagerPairCorr
  0.98IMOPX Voya Midcap OpportunitiesPairCorr
  0.98IMORX Voya Midcap OpportunitiesPairCorr
  0.96IMOWX Voya Midcap OpportunitiesPairCorr
  0.96IMOZX Voya Midcap OpportunitiesPairCorr
  0.96IMYCX Voya High YieldPairCorr
  0.88INGIX Voya Stock IndexPairCorr
  1.0VPISX Voya Index SolutionPairCorr
  0.94INTIX Voya International IndexPairCorr
  1.0VPSSX Voya Index SolutionPairCorr
  0.78VPRSX Voya Jpmorgan SmallPairCorr
  1.0VPSAX Voya Index SolutionPairCorr
  0.98IOGPX Vy Oppenheimer GlobalPairCorr
  0.64IOSAX Voya Global BondPairCorr
  0.66IOSIX Voya Global BondPairCorr
  0.67IOSSX Voya Global BondPairCorr
  0.97NAPIX Voya Multi ManagerPairCorr
  0.98NARCX Voya Multi ManagerPairCorr
  0.95NAWCX Voya Global EquityPairCorr
  0.95NAWGX Voya Global EquityPairCorr
  0.96NAWIX Voya Global EquityPairCorr
  0.93IPARX Voya Global PerspectivesPairCorr
  0.68IPIIX Ing Intermediate BondPairCorr
  0.96IPIMX Voya High YieldPairCorr
  0.68IPISX Voya Intermediate BondPairCorr
  0.93IPIRX Voya Global PerspectivesPairCorr
  0.96IPHYX Voya High YieldPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between ISCSX Mutual Fund performing well and Vy Umbia 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 Vy Umbia'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  0.26  0.01 (0.33)(1.01) 0.26 
(0.28)
 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  0.00 (0.86) 0.00  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 (0.36)(0.97) 0.26 
(0.27)
 0.45 
(0.45)
 1.24 
IMBAX  0.09  0.01 (0.90)(4.02) 0.00 
(0.18)
 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  0.94  0.35  0.16 (1.22) 0.80 
(1.09)
 2.60 
(1.85)
 5.83 

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