Voya Index Correlations

Mutual Funds . USA . 
Fund . Voya Index Solution
ISKIX Fund  USD 10.56  0.02  0.19%   
The current 90-days correlation between Voya Index Solution and Scharf Global Opportunity is -0.19 (i.e., Good diversification). The correlation of Voya Index 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 Index Correlation With Market

Very poor diversification

The correlation between Voya Index Solution and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Index Solution 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 Index Solution. 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

  0.61ILBAX Voya Bond IndexPairCorr
  0.88ILBPX Voya Limited MaturityPairCorr
  0.89ILMBX Voya Limited MaturityPairCorr
  0.86IMBAX Voya Limited MaturityPairCorr
  0.94IMCVX Voya Multi ManagerPairCorr
  0.95IMOPX Voya Midcap OpportunitiesPairCorr
  0.95IMORX Voya Midcap OpportunitiesPairCorr
  0.95IMOWX Voya Midcap OpportunitiesPairCorr
  0.8INGIX Voya Stock IndexPairCorr
  0.64INGBX Voya Global BondPairCorr
  0.97VPISX Voya Index SolutionPairCorr
  0.93INTIX Voya International IndexPairCorr
  0.63VPRSX Voya Jpmorgan SmallPairCorr
  0.96IOGPX Vy Oppenheimer GlobalPairCorr
  0.72IOSAX Voya Global BondPairCorr
  0.74IOSIX Voya Global BondPairCorr
  0.75IOSSX Voya Global BondPairCorr
  0.96NAWCX Voya Global EquityPairCorr
  0.93NAWGX Voya Global EquityPairCorr
  0.96NAWIX Voya Global EquityPairCorr
  0.9IPARX Voya Global PerspectivesPairCorr
  0.96IPIMX Voya High YieldPairCorr
  0.74IPISX Voya Intermediate BondPairCorr
  0.89IPIRX Voya Global PerspectivesPairCorr
  0.96IPHYX Voya High YieldPairCorr
  0.98IPLIX Voya Index PlusPairCorr
  0.95IPMSX Voya Index PlusPairCorr
  0.65VREQX Voya Real EstatePairCorr
  0.95IPMIX Voya Index PlusPairCorr
  0.86VRLCX Voya Large CapPairCorr
  0.96IPSIX Voya Index PlusPairCorr
  0.94IPSSX Voya Index PlusPairCorr
  0.98VRRJX Voya Target RetirementPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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