Voya Asia Correlations

IAE Fund

USD 6.20 0.02 0.32%

The current 90-days correlation between Voya Asia Pacific and New America High is -0.21 (i.e., Very good diversification). The correlation of Voya Asia 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.

Voya Asia Correlation With Market

Very weak diversification

The correlation between Voya Asia Pacific and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Asia Pacific 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 Asia Pacific. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Voya Fund

0.82	TDF	Templeton Dragon Closed	Pair Corr
0.83	SWZ	Swiss Helvetia Closed	Pair Corr
0.78	EMD	Western Asset Emerging	Pair Corr
0.77	ASGI	Aberdeen Standard Global	Pair Corr
0.79	HFHCX	Hartford Floating	Pair Corr
0.82	TRIGX	T Rowe Price	Pair Corr
0.92	TEDMX	Templeton Developing	Pair Corr
0.72	ARRZX	Amg River Road	Pair Corr
0.77	NHILX	Neuberger Berman High	Pair Corr
0.74	JULMX	Multimanager Lifestyle	Pair Corr
0.74	NECRX	Loomis Sayles E	Pair Corr
0.71	DMFZX	Destinations Municipal	Pair Corr
0.8	LIFAX	Lord Abbett Inflation	Pair Corr
0.74	HIO	Western Asset High	Pair Corr
0.88	WMRIX	Wilmington Multi-manager	Pair Corr
0.86	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.63	TEMHX	Tiaa Cref Emerging	Pair Corr
0.84	IRFIX	Cohen Steers Interna	Pair Corr
0.71	THYAX	High Yield Fund	Pair Corr
0.73	OWCIX	Old Westbury Credit	Pair Corr
0.75	ABCVX	American Beacon	Pair Corr
0.88	IFACX	Income Fund	Pair Corr
0.66	FHYIX	Franklin High Yield	Pair Corr
0.8	MNCRX	Pro-blend(r) Conservative	Pair Corr
0.61	HSXIX	Hartford Schroders	Pair Corr
0.67	MIPIX	Matthews Asia Dividend	Pair Corr
0.87	MFIRX	Ms Global Fixed	Pair Corr
0.62	AFTEX	Tax Exempt Bond	Pair Corr
0.86	VTMGX	Vanguard Developed	Pair Corr
0.82	VMSAX	Vanguard Multi Sector	Pair Corr
0.92	FHKCX	Fidelity China Region	Pair Corr
0.9	DURIX	Deutsche European Equity	Pair Corr

Moving against Voya Fund

0.52	WLATTX	Wlattx	Pair Corr
0.5	IFN	India Closed Normal Trading	Pair Corr
0.49	ABQYX	Ab Intermediate Bond	Pair Corr

Related Correlations Analysis

	GGT-PE	GAB-PH	NCV-PA	GAB-PG	OXLCO	JGH	TRRPF	FAM	HYB
GGT-PE		0.12	0.09	0.09	0.17	0.14	0.2	0.0	-0.24	GGT-PE
GAB-PH	0.12		0.22	0.9	-0.15	-0.05	-0.29	0.0	-0.36	GAB-PH
NCV-PA	0.09	0.22		0.4	0.77	0.59	-0.22	0.0	0.16	NCV-PA
GAB-PG	0.09	0.9	0.4		-0.05	0.06	-0.37	0.0	-0.29	GAB-PG
OXLCO	0.17	-0.15	0.77	-0.05		0.79	0.1	0.0	0.22	OXLCO
JGH	0.14	-0.05	0.59	0.06	0.79		0.4	0.0	0.05	JGH
TRRPF	0.2	-0.29	-0.22	-0.37	0.1	0.4		0.0	-0.39	TRRPF
FAM	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	FAM
HYB	-0.24	-0.36	0.16	-0.29	0.22	0.05	-0.39	0.0		HYB
	GGT-PE	GAB-PH	NCV-PA	GAB-PG	OXLCO	JGH	TRRPF	FAM	HYB

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

GAB-PG	+ 0.9	GAB-PH
JGH	+ 0.79	OXLCO
OXLCO	+ 0.77	NCV-PA
JGH	+ 0.59	NCV-PA
GAB-PG	+ 0.4	NCV-PA
TRRPF	+ 0.4	JGH

High negative correlations

HYB	- 0.39	TRRPF
TRRPF	- 0.37	GAB-PG
HYB	- 0.36	GAB-PH
HYB	- 0.29	GAB-PG
TRRPF	- 0.29	GAB-PH
HYB	- 0.24	GGT-PE

Risk-Adjusted Indicators

There is a big difference between Voya Fund performing well and Voya Asia 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 Asia'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
GGT-PE	0.34	(0.01)	0.09	(0.56)	0.46	(0.50)	0.75	(0.78)	2.76
GAB-PH	0.49	(0.07)	0.00	(0.92)	0.00	0.00	0.91	(1.13)	4.10
NCV-PA	0.42	0.05	0.15	0.30	0.60	(0.46)	0.86	(0.90)	4.22
GAB-PG	0.43	(0.04)	0.00	(0.29)	0.00	0.00	0.76	(1.46)	2.32
OXLCO	0.20	0.02	0.26	(1.69)	0.21	(0.25)	0.61	(0.49)	1.55
JGH	0.40	0.02	0.12	(0.01)	0.57	(0.36)	0.68	(0.88)	2.33
TRRPF	0.26	(0.02)	0.00	(0.22)	0.00	0.00	0.00	0.00	15.00
FAM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HYB	0.27	0.01	0.18	(0.32)	0.33	(0.32)	0.62	(0.61)	1.96

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