Voya Multi-manager Correlations

Mutual Funds . USA . 
Fund . Voya Multi Manager International
NARCX Fund  USD 65.38  0.15  0.23%   
The current 90-days correlation between Voya Multi Manager and Lord Abbett Vertible is -0.17 (i.e., Good diversification). The correlation of Voya Multi-manager 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 Multi-manager Correlation With Market

Good diversification

The correlation between Voya Multi Manager Internation and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Multi Manager Internation 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 Multi Manager International. 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 main economic indicators.

Moving together with Voya Mutual Fund

  0.72ILBPX Voya Limited MaturityPairCorr
  0.87ILMBX Voya Limited MaturityPairCorr
  0.84IMBAX Voya Limited MaturityPairCorr
  0.88IMCVX Voya Multi ManagerPairCorr
  0.96IMOPX Voya Midcap OpportunitiesPairCorr
  0.96IMORX Voya Midcap OpportunitiesPairCorr
  0.96IMOWX Voya Midcap OpportunitiesPairCorr
  0.96IMOZX Voya Midcap OpportunitiesPairCorr
  0.86IMYCX Voya High YieldPairCorr
  0.96INGIX Voya Stock IndexPairCorr
  0.73INGBX Voya Global BondPairCorr
  0.98VPISX Voya Index SolutionPairCorr
  0.98INTIX Voya International IndexPairCorr
  0.92VPRDX Voya Morgan StanleyPairCorr
  0.96VPRAX Voya T RowePairCorr
  0.98VPSSX Voya Index SolutionPairCorr
  0.95VPRSX Voya Jpmorgan SmallPairCorr
  0.86VPSAX Voya Index SolutionPairCorr
  0.98IOGPX Vy Oppenheimer GlobalPairCorr
  0.83IOSAX Voya Global BondPairCorr
  0.83IOSIX Voya Global BondPairCorr
  0.85IOSSX Voya Global BondPairCorr
  1.0NAPIX Voya Multi ManagerPairCorr
  0.98NAWCX Voya Global EquityPairCorr
  0.98NAWGX Voya Global EquityPairCorr
  0.98NAWIX Voya Global EquityPairCorr
  0.98IPARX Voya Global PerspectivesPairCorr
  0.96IPEAX Voya Large CapPairCorr
  0.96IPEIX Voya Large CapPairCorr
  0.96IPESX Voya Large CapPairCorr
  0.96IPETX Voya Large CapPairCorr
  0.66IPIIX Ing Intermediate BondPairCorr
  0.86IPIMX Voya High YieldPairCorr
  0.66IPISX Voya Intermediate BondPairCorr
  0.98IPHYX Voya High YieldPairCorr
  0.85IPLIX Voya Index PlusPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Multi-manager 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 Multi-manager'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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