Voya Gnma Correlations

Mutual Funds . USA . 
Fund . Voya Gnma Income
LEINX Fund  USD 7.40  0.01  0.14%   
The current 90-days correlation between Voya Gnma Income and Voya Bond Index is 0.06 (i.e., Significant diversification). The correlation of Voya Gnma 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 Gnma Correlation With Market

Modest diversification

The correlation between Voya Gnma Income and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Gnma Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Voya Gnma Income. 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 board of governors.

Moving together with Voya Mutual Fund

  0.84ILABX Voya Bond IndexPairCorr
  0.85ILBAX Voya Bond IndexPairCorr
  0.72ILBPX Voya Limited MaturityPairCorr
  0.7ILMBX Voya Limited MaturityPairCorr
  0.82ILUAX Voya Bond IndexPairCorr
  0.73IMBAX Voya Limited MaturityPairCorr
  0.87INGBX Voya Global BondPairCorr
  0.77IOSAX Voya Global BondPairCorr
  0.87IOSIX Voya Global BondPairCorr
  0.77IOSSX Voya Global BondPairCorr
  0.98IPIIX Ing Intermediate BondPairCorr
  0.84IPISX Voya Intermediate BondPairCorr

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 Gnma 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 Gnma'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  0.24  0.01 (0.35)(0.39) 0.25 
(0.27)
 0.45 
(0.44)
 1.24 
ILBAX  0.23  0.00 (0.34) 0.00  0.24 
(0.27)
 0.45 
(0.55)
 1.12 
ILBPX  0.08  0.00 (0.90) 0.00  0.00 
(0.16)
 0.21 
(0.11)
 0.63 
ILMBX  0.08  0.00 (1.09) 0.60  0.00 
(0.18)
 0.21 
(0.10)
 0.63 
ILUAX  0.24  0.01 (0.38)(1.13) 0.25 
(0.27)
 0.45 
(0.45)
 1.24 
IMBAX  0.09  0.00 (0.94) 0.79  0.00 
(0.18)
 0.22 
(0.11)
 0.64 
IMCVX  0.61  0.21  0.07 (0.85) 0.47 
(0.77)
 1.84 
(0.95)
 4.55 
IMOPX  0.86  0.31  0.20  3.62  0.50 
(1.16)
 2.47 
(1.02)
 5.69 
IMORX  0.88  0.36  0.25 (26.61) 0.45 
(1.10)
 2.60 
(0.91)
 5.77 
IMOWX  0.85  0.31  0.21  4.05  0.50 
(1.06)
 2.58 
(0.93)
 5.83 

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