Voya Small Correlations

Mutual Funds . USA . 
Fund . Voya Small
VYSAX Fund  USD 14.66  0.12  0.81%   
The current 90-days correlation between Voya Small and Voya Bond Index is -0.08 (i.e., Good diversification). The correlation of Voya Small 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 Small Correlation With Market

Very poor diversification

The correlation between Voya Small and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Small 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 Small. 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 nation.

Moving together with Voya Mutual Fund

  0.8ILBPX Voya Limited MaturityPairCorr
  0.78ILMBX Voya Limited MaturityPairCorr
  0.78IMBAX Voya Limited MaturityPairCorr
  0.99IMCVX Voya Multi ManagerPairCorr
  0.97IMOPX Voya Midcap OpportunitiesPairCorr
  0.97IMORX Voya Midcap OpportunitiesPairCorr
  0.94IMOWX Voya Midcap OpportunitiesPairCorr
  0.94IMOZX Voya Midcap OpportunitiesPairCorr
  0.94IMYCX Voya High YieldPairCorr
  0.86INGIX Voya Stock IndexPairCorr
  0.97VPISX Voya Index SolutionPairCorr
  0.91INTIX Voya International IndexPairCorr
  0.97VPSSX Voya Index SolutionPairCorr
  0.79VPRSX Voya Jpmorgan SmallPairCorr
  0.97VPSAX Voya Index SolutionPairCorr
  0.94IOGPX Vy Oppenheimer GlobalPairCorr
  0.91NAPIX Voya Multi ManagerPairCorr
  0.92NARCX Voya Multi ManagerPairCorr
  0.91NAWCX Voya Global EquityPairCorr
  0.91NAWGX Voya Global EquityPairCorr
  0.94NAWIX Voya Global EquityPairCorr
  0.91IPARX Voya Global PerspectivesPairCorr
  0.65IPIIX Ing Intermediate BondPairCorr
  0.93IPIMX Voya High YieldPairCorr
  0.65IPISX Voya Intermediate BondPairCorr
  0.91IPIRX Voya Global PerspectivesPairCorr
  0.94IPHYX 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 Small 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 Small'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  0.26  0.01 (0.33)(1.01) 0.26 
(0.28)
 0.45 
(0.45)
 1.24 
ILBAX  0.24 (0.01)(0.36) 0.04  0.26 
(0.27)
 0.45 
(0.55)
 1.12 
ILBPX  0.08  0.00 (0.86) 0.00  0.00 
(0.16)
 0.21 
(0.11)
 0.63 
ILMBX  0.08  0.01 (1.07) 4.56  0.00 
(0.17)
 0.21 
(0.10)
 0.63 
ILUAX  0.25  0.01 (0.36)(0.97) 0.26 
(0.27)
 0.45 
(0.45)
 1.24 
IMBAX  0.09  0.01 (0.90)(4.02) 0.00 
(0.18)
 0.22 
(0.11)
 0.64 
IMCVX  0.65  0.03  0.01  0.17  0.63 
(0.77)
 1.84 
(1.17)
 4.55 
IMOPX  0.94  0.16  0.14  0.28  0.80 
(1.18)
 2.57 
(1.68)
 5.69 
IMORX  0.92  0.16  0.14  0.28  0.78 
(1.08)
 2.60 
(1.76)
 5.77 
IMOWX  0.94  0.35  0.16 (1.22) 0.80 
(1.09)
 2.60 
(1.85)
 5.83 

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