Voya Multi-manager Correlations

Mutual Funds . USA . 
Fund . Voya Multi Manager International
NARCX Fund  USD 64.52  0.78  1.22%   
The current 90-days correlation between Voya Multi Manager and Qs Global Equity is 0.84 (i.e., Very poor diversification). The correlation of Voya Multi-manager 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-manager Correlation With Market

Poor diversification

The correlation between Voya Multi Manager Internation and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Multi Manager Internation 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 Multi Manager International. 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

  0.72ILBPX Voya Limited MaturityPairCorr
  0.8ILMBX Voya Limited MaturityPairCorr
  0.71IMBAX Voya Limited MaturityPairCorr
  0.8IMCVX Voya Multi ManagerPairCorr
  0.95IMOPX Voya Midcap OpportunitiesPairCorr
  0.95IMORX Voya Midcap OpportunitiesPairCorr
  0.95IMOWX Voya Midcap OpportunitiesPairCorr
  0.95IMOZX Voya Midcap OpportunitiesPairCorr
  0.93IMYCX Voya High YieldPairCorr
  0.93INGIX Voya Stock IndexPairCorr
  0.62INGBX Voya Global BondPairCorr
  0.92VPISX Voya Index SolutionPairCorr
  0.98INTIX Voya International IndexPairCorr
  0.84VPRDX Voya Morgan StanleyPairCorr
  0.93VPRAX Voya T RowePairCorr
  0.92VPSSX Voya Index SolutionPairCorr
  0.8VPRSX Voya Jpmorgan SmallPairCorr
  0.92VPSAX Voya Index SolutionPairCorr
  0.93IOGPX Vy Oppenheimer GlobalPairCorr
  0.72IOSAX Voya Global BondPairCorr
  0.73IOSIX Voya Global BondPairCorr
  0.75IOSSX Voya Global BondPairCorr
  1.0NAPIX Voya Multi ManagerPairCorr
  0.93NAWCX Voya Global EquityPairCorr
  0.87NAWGX Voya Global EquityPairCorr
  0.94NAWIX Voya Global EquityPairCorr
  0.97IPARX Voya Global PerspectivesPairCorr
  0.79IPEAX Voya Large CapPairCorr
  0.73IPEIX Voya Large CapPairCorr
  0.73IPESX Voya Large CapPairCorr
  0.79IPETX Voya Large CapPairCorr
  0.94IPIMX Voya High YieldPairCorr
  0.97IPIRX 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 Multi-manager 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-manager'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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