Voya Solution Correlations

IAVTX Fund

USD 14.83 0.10 0.68%

The current 90-days correlation between Voya Solution Aggressive and Guidepath Managed Futures is 0.46 (i.e., Very weak diversification). The correlation of Voya Solution 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 Solution Correlation With Market

Very poor diversification

The correlation between Voya Solution Aggressive and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Solution Aggressive 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 Solution Aggressive. 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 estimate.

Moving together with Voya Mutual Fund

0.95	IMCVX	Voya Multi Manager	Pair Corr
0.94	IMOPX	Voya Midcap Opportunities	Pair Corr
0.94	IMORX	Voya Midcap Opportunities	Pair Corr
0.94	IMOWX	Voya Midcap Opportunities	Pair Corr
0.94	IMOZX	Voya Midcap Opportunities	Pair Corr
0.73	IMYCX	Voya High Yield	Pair Corr
0.99	INGIX	Voya Stock Index	Pair Corr
0.96	VPISX	Voya Index Solution	Pair Corr
0.98	VPRAX	Voya T Rowe	Pair Corr
0.96	VPSSX	Voya Index Solution	Pair Corr
0.94	VPRSX	Voya Jpmorgan Small	Pair Corr
0.96	VPSAX	Voya Index Solution	Pair Corr
0.89	NAWCX	Voya Global Equity	Pair Corr
0.9	NAWGX	Voya Global Equity	Pair Corr
0.9	NAWIX	Voya Global Equity	Pair Corr
0.79	IPARX	Voya Global Perspectives	Pair Corr
0.96	IPEAX	Voya Large Cap	Pair Corr
0.96	IPEIX	Voya Large Cap	Pair Corr
0.96	IPESX	Voya Large Cap	Pair Corr
0.96	IPETX	Voya Large Cap	Pair Corr
0.79	IPIMX	Voya High Yield	Pair Corr
0.8	IPIRX	Voya Global Perspectives	Pair Corr

Moving against Voya Mutual Fund

0.71	INGBX	Voya Global Bond	Pair Corr
0.68	ILUAX	Voya Bond Index	Pair Corr
0.67	ILABX	Voya Bond Index	Pair Corr
0.67	ILBAX	Voya Bond Index	Pair Corr
0.49	INTIX	Voya International Index	Pair Corr
0.71	IOSAX	Voya Global Bond	Pair Corr
0.7	IOSIX	Voya Global Bond	Pair Corr
0.7	IOSSX	Voya Global Bond	Pair Corr
0.52	IOGPX	Vy Oppenheimer Global	Pair Corr
0.65	IPIIX	Ing Intermediate Bond	Pair Corr
0.65	IPISX	Voya Intermediate Bond	Pair Corr
0.33	VREQX	Voya Real Estate	Pair Corr

Related Correlations Analysis

	GPMFX	ABNCX	IPBCX	WAFAX	LIFAX	BPRIX	MFTFX	FODVX
GPMFX		0.78	-0.08	0.82	0.01	0.77	0.94	0.81	GPMFX
ABNCX	0.78		0.13	0.96	0.39	0.97	0.7	0.98	ABNCX
IPBCX	-0.08	0.13		-0.08	0.72	-0.02	0.01	-0.02	IPBCX
WAFAX	0.82	0.96	-0.08		0.17	0.99	0.72	0.99	WAFAX
LIFAX	0.01	0.39	0.72	0.17		0.25	-0.07	0.24	LIFAX
BPRIX	0.77	0.97	-0.02	0.99	0.25		0.67	0.99	BPRIX
MFTFX	0.94	0.7	0.01	0.72	-0.07	0.67		0.72	MFTFX
FODVX	0.81	0.98	-0.02	0.99	0.24	0.99	0.72		FODVX
	GPMFX	ABNCX	IPBCX	WAFAX	LIFAX	BPRIX	MFTFX	FODVX

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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

BPRIX	+ 0.99	WAFAX
FODVX	+ 0.99	WAFAX
FODVX	+ 0.99	BPRIX
FODVX	+ 0.98	ABNCX
BPRIX	+ 0.97	ABNCX
WAFAX	+ 0.96	ABNCX

High negative correlations

WAFAX	- 0.08	IPBCX
IPBCX	- 0.08	GPMFX
MFTFX	- 0.07	LIFAX
FODVX	- 0.02	IPBCX
BPRIX	- 0.02	IPBCX

Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Solution 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 Solution'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
GPMFX	0.42	(0.09)	0.00	(0.11)	0.00	0.00	0.75	(0.89)	2.31
ABNCX	0.14	(0.01)	0.00	(0.53)	0.00	0.00	0.20	(0.30)	0.89
IPBCX	0.34	(0.01)	(0.18)	0.10	0.31	(0.41)	0.60	(0.59)	2.08
WAFAX	0.24	(0.02)	0.00	(1.06)	0.00	0.00	0.42	(0.53)	1.26
LIFAX	0.12	0.00	(0.63)	0.05	0.09	(0.16)	0.26	(0.26)	0.77
BPRIX	0.21	(0.02)	0.00	(1.67)	0.00	0.00	0.40	(0.51)	1.11
MFTFX	0.97	(0.15)	0.00	(0.08)	0.00	0.00	1.70	(1.95)	5.42
FODVX	0.20	(0.02)	0.00	(0.56)	0.00	0.00	0.39	(0.49)	1.17

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