Voya Global Correlations

Mutual Funds . USA . 
Fund . Voya Global Equity
NAWCX Fund  USD 46.17  0.05  0.11%   
The current 90-days correlation between Voya Global Equity and T Rowe Price is -0.29 (i.e., Very good diversification). The correlation of Voya Global 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 Global Correlation With Market

Poor diversification

The correlation between Voya Global Equity and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Global Equity 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 Global Equity. 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

  0.84ILBPX Voya Limited MaturityPairCorr
  0.86ILMBX Voya Limited MaturityPairCorr
  0.83IMBAX Voya Limited MaturityPairCorr
  0.94IMCVX Voya Multi ManagerPairCorr
  0.95IMOPX Voya Midcap OpportunitiesPairCorr
  0.96IMORX Voya Midcap OpportunitiesPairCorr
  0.96IMOWX Voya Midcap OpportunitiesPairCorr
  0.96IMOZX Voya Midcap OpportunitiesPairCorr
  0.96IMYCX Voya High YieldPairCorr
  0.88INGIX Voya Stock IndexPairCorr
  0.96VPISX Voya Index SolutionPairCorr
  0.99INTIX Voya International IndexPairCorr
  0.96VPSSX Voya Index SolutionPairCorr
  0.75VPRSX Voya Jpmorgan SmallPairCorr
  0.96VPSAX Voya Index SolutionPairCorr
  0.96IOGPX Vy Oppenheimer GlobalPairCorr
  0.67IOSAX Voya Global BondPairCorr
  0.68IOSIX Voya Global BondPairCorr
  0.7IOSSX Voya Global BondPairCorr
  0.96NAPIX Voya Multi ManagerPairCorr
  0.95NARCX Voya Multi ManagerPairCorr
  0.96NAWGX Voya Global EquityPairCorr
  1.0NAWIX Voya Global EquityPairCorr
  0.95IPARX Voya Global PerspectivesPairCorr
  0.64IPIIX Ing Intermediate BondPairCorr
  0.96IPIMX Voya High YieldPairCorr
  0.65IPISX Voya Intermediate BondPairCorr
  0.94IPIRX 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 Voya Mutual Fund performing well and Voya Global 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 Global'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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