Voya Multi Correlations

IMCVX Fund

USD 9.18 0.10 1.08%

The current 90-days correlation between Voya Multi Manager and Columbia High Yield is -0.02 (i.e., Good diversification). The correlation of Voya Multi 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 Correlation With Market

Weak diversification

The correlation between Voya Multi Manager Mid and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Multi Manager Mid and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Voya Multi Manager Mid. 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 small area income & poverty estimates.

Moving together with Voya Mutual Fund

0.76	ILBPX	Voya Limited Maturity	Pair Corr
0.76	IMBAX	Voya Limited Maturity	Pair Corr
0.93	IMORX	Voya Midcap Opportunities	Pair Corr
0.95	IMOWX	Voya Midcap Opportunities	Pair Corr
0.93	IMOZX	Voya Midcap Opportunities	Pair Corr
0.78	IMYCX	Voya High Yield	Pair Corr
0.62	VPISX	Voya Index Solution	Pair Corr
0.78	INTIX	Voya International Index	Pair Corr
0.7	VPSSX	Voya Index Solution	Pair Corr
0.66	VPRSX	Voya Jpmorgan Small	Pair Corr
0.69	VPSAX	Voya Index Solution	Pair Corr
0.97	NAPIX	Voya Multi Manager	Pair Corr
0.97	NARCX	Voya Multi Manager	Pair Corr
0.98	NAWCX	Voya Global Equity	Pair Corr
0.95	NAWGX	Voya Global Equity	Pair Corr
0.92	NAWIX	Voya Global Equity	Pair Corr
0.65	IPARX	Voya Global Perspectives	Pair Corr
0.69	IPEIX	Voya Large Cap	Pair Corr
0.72	IPESX	Voya Large Cap	Pair Corr
0.73	IPETX	Voya Large Cap	Pair Corr
0.69	IPIMX	Voya High Yield	Pair Corr
0.61	IPIRX	Voya Global Perspectives	Pair Corr
0.76	IPHYX	Voya High Yield	Pair Corr

Moving against Voya Mutual Fund

0.42

VREQX

Voya Real Estate

Pair Corr

Related Correlations Analysis

	CHMCX	MRHYX	MYHCX	CRDOX	CAYCX	AHYMX	PYRLX
CHMCX		0.33	0.25	0.44	0.84	0.48	0.27	CHMCX
MRHYX	0.33		0.95	0.8	0.38	0.78	0.95	MRHYX
MYHCX	0.25	0.95		0.76	0.32	0.69	0.93	MYHCX
CRDOX	0.44	0.8	0.76		0.64	0.85	0.86	CRDOX
CAYCX	0.84	0.38	0.32	0.64		0.63	0.4	CAYCX
AHYMX	0.48	0.78	0.69	0.85	0.63		0.8	AHYMX
PYRLX	0.27	0.95	0.93	0.86	0.4	0.8		PYRLX
	CHMCX	MRHYX	MYHCX	CRDOX	CAYCX	AHYMX	PYRLX

Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Multi 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'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CHMCX	0.09	0.01	(0.24)	1.29	0.00	(0.17)	0.22	(0.11)	0.88
MRHYX	0.09	0.01	(0.23)	0.15	0.00	(0.17)	0.24	(0.24)	0.59
MYHCX	0.09	0.00	(0.23)	0.16	0.00	(0.21)	0.19	(0.19)	0.58
CRDOX	0.10	0.00	(0.25)	0.06	0.05	(0.15)	0.22	(0.11)	0.99
CAYCX	0.08	0.00	(0.28)	0.00	0.00	(0.14)	0.21	(0.10)	0.73
AHYMX	0.08	0.01	(0.45)	0.63	0.00	(0.14)	0.22	(0.11)	0.56
PYRLX	0.11	0.01	(0.29)	0.19	0.05	(0.14)	0.24	(0.24)	0.94

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