Voya Index Correlations

Mutual Funds USA . 
Fund . Voya Index Plus
IPLIX Fund  USD 28.31  0.01  0.04%   
The current 90-days correlation between Voya Index Plus and Pace Smallmedium Value is 0.84 (i.e., Very poor diversification). The correlation of Voya Index 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 Index Correlation With Market

Almost no diversification

The correlation between Voya Index Plus and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Index Plus 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 Index Plus. 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 gross domestic product.

Moving together with Voya Mutual Fund

  0.81ILBPX Voya Limited MaturityPairCorr
  0.83ILMBX Voya Limited MaturityPairCorr
  0.79IMBAX Voya Limited MaturityPairCorr
  0.97IMCVX Voya Multi ManagerPairCorr
  0.99IMOPX Voya Midcap OpportunitiesPairCorr
  0.99IMORX Voya Midcap OpportunitiesPairCorr
  0.99IMOWX Voya Midcap OpportunitiesPairCorr
  0.99IMOZX Voya Midcap OpportunitiesPairCorr
  0.96IMYCX Voya High YieldPairCorr
  0.87INGIX Voya Stock IndexPairCorr
  1.0VPISX Voya Index SolutionPairCorr
  0.95INTIX Voya International IndexPairCorr
  1.0VPSSX Voya Index SolutionPairCorr
  0.75VPRSX Voya Jpmorgan SmallPairCorr
  1.0VPSAX Voya Index SolutionPairCorr
  1.0IOGPX Vy Oppenheimer GlobalPairCorr
  0.61IOSAX Voya Global BondPairCorr
  0.62IOSIX Voya Global BondPairCorr
  0.64IOSSX Voya Global BondPairCorr
  0.97NAPIX Voya Multi ManagerPairCorr
  0.97NARCX Voya Multi ManagerPairCorr
  0.97NAWCX Voya Global EquityPairCorr
  0.97NAWGX Voya Global EquityPairCorr
  0.97NAWIX Voya Global EquityPairCorr
  0.93IPARX Voya Global PerspectivesPairCorr
  0.63IPIIX Ing Intermediate BondPairCorr
  0.96IPIMX Voya High YieldPairCorr
  0.63IPISX Voya Intermediate BondPairCorr
  0.93IPIRX Voya Global PerspectivesPairCorr
  0.96IPHYX 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 Index 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 Index'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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