Voya Global Correlations

Mutual Funds USA . 
Fund . Voya Global Multi Asset
VYGJX Fund  USD 11.87  0.05  0.42%   
The current 90-days correlation between Voya Global Multi and Metropolitan West High is 0.54 (i.e., Very weak 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 Multi Asset 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 Multi Asset and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Voya Global Multi Asset. 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 inflation.

Moving together with Voya Mutual Fund

  0.88ILBPX Voya Limited MaturityPairCorr
  0.89ILMBX Voya Limited MaturityPairCorr
  0.85IMBAX Voya Limited MaturityPairCorr
  0.95IMCVX Voya Multi ManagerPairCorr
  0.97IMOPX Voya Midcap OpportunitiesPairCorr
  0.97IMORX Voya Midcap OpportunitiesPairCorr
  0.97IMOWX Voya Midcap OpportunitiesPairCorr
  0.97IMOZX Voya Midcap OpportunitiesPairCorr
  0.97IMYCX Voya High YieldPairCorr
  0.86INGIX Voya Stock IndexPairCorr
  0.99VPISX Voya Index SolutionPairCorr
  0.96INTIX Voya International IndexPairCorr
  1.0VPSSX Voya Index SolutionPairCorr
  0.73VPRSX Voya Jpmorgan SmallPairCorr
  0.99VPSAX Voya Index SolutionPairCorr
  0.99IOGPX Vy Oppenheimer GlobalPairCorr
  0.69IOSAX Voya Global BondPairCorr
  0.71IOSIX Voya Global BondPairCorr
  0.72IOSSX Voya Global BondPairCorr
  0.99NAPIX Voya Multi ManagerPairCorr
  0.99NARCX Voya Multi ManagerPairCorr
  0.97NAWCX Voya Global EquityPairCorr
  0.97NAWGX Voya Global EquityPairCorr
  0.97NAWIX Voya Global EquityPairCorr
  0.93IPARX Voya Global PerspectivesPairCorr
  0.7IPIIX Ing Intermediate BondPairCorr
  0.98IPIMX Voya High YieldPairCorr
  0.7IPISX Voya Intermediate BondPairCorr
  0.92IPIRX Voya Global PerspectivesPairCorr
  0.97IPHYX Voya High YieldPairCorr

Related Correlations Analysis

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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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