Voya Infrastructure Correlations

IDE Etf

USD 10.43 0.03 0.29%

The current 90-days correlation between Voya Infrastructure and Voya Emerging Markets is 0.24 (i.e., Modest diversification). The correlation of Voya Infrastructure 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 Infrastructure Correlation With Market

Significant diversification

The correlation between Voya Infrastructure Industrial and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Infrastructure Industrial 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 Infrastructure Industrials. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Voya Etf

0.78	PRME	Prime Medicine, Common	Pair Corr
0.63	HART	IQ Healthy Hearts	Pair Corr
0.74	SNPD	DBX ETF Trust	Pair Corr
0.64	EVUS	iShares ESG Aware	Pair Corr
0.78	GREI	Goldman Sachs Future	Pair Corr
0.65	BITI	ProShares Trust	Pair Corr

Moving against Voya Etf

0.79	EOS	Eaton Vance Enhanced	Pair Corr
0.79	SDCP	Virtus ETF Trust	Pair Corr
0.74	ARTY	iShares Future AI Symbol Change	Pair Corr
0.7	IGBH	iShares Interest Rate	Pair Corr
0.7	RND	First Trust Bloomberg	Pair Corr
0.68	PST	ProShares UltraShort Potential Growth	Pair Corr
0.68	PSI	Invesco Dynamic Semi	Pair Corr
0.68	SDP	ProShares UltraShort	Pair Corr
0.66	KHPI	Kensington Hedged Premium	Pair Corr
0.65	BTC	Grayscale Bitcoin Mini	Pair Corr
0.65	IBIT	iShares Bitcoin Trust Aggressive Push	Pair Corr
0.64	IYC	iShares Consumer Dis	Pair Corr
0.63	IWFG	IQ Winslow Focused	Pair Corr
0.6	SIXF	AIM ETF Products	Pair Corr
0.58	QTR	Global X NASDAQ	Pair Corr
0.57	SKYY	First Trust Cloud	Pair Corr
0.56	SNPG	Xtrackers SP 500	Pair Corr
0.51	MSD	Morgan Stanley Emerging	Pair Corr
0.41	MSTY	YieldMax MSTR Option	Pair Corr
0.39	DIAX	Nuveen Dow 30Sm	Pair Corr
0.33	ARVR	First Trust Indxx	Pair Corr
0.88	GSST	Goldman Sachs Access	Pair Corr
0.84	UAE	iShares MSCI UAE	Pair Corr
0.83	STOT	SPDR DoubleLine Short	Pair Corr
0.8	DJAN	First Trust Exchange	Pair Corr
0.78	APRJ	Innovator Premium Income	Pair Corr
0.77	MAGS	Roundhill Magnificent	Pair Corr
0.76	SPTS	SPDR Barclays Short	Pair Corr
0.74	ATFV	Alger 35 ETF	Pair Corr
0.7	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.68	ARKW	ARK Next Generation	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.73	-0.57	-0.59	0.32	0.57	0.53	0.34	-0.06	-0.67	META
MSFT	0.73		-0.53	-0.24	0.56	0.23	0.65	0.25	-0.1	-0.47	MSFT
UBER	-0.57	-0.53		0.64	-0.58	-0.08	-0.78	-0.56	0.67	0.81	UBER
F	-0.59	-0.24	0.64		0.01	-0.25	-0.2	-0.07	0.2	0.9	F
T	0.32	0.56	-0.58	0.01		0.0	0.8	0.59	-0.45	-0.23	T
A	0.57	0.23	-0.08	-0.25	0.0		0.12	0.22	0.32	-0.19	A
CRM	0.53	0.65	-0.78	-0.2	0.8	0.12		0.7	-0.59	-0.44	CRM
JPM	0.34	0.25	-0.56	-0.07	0.59	0.22	0.7		-0.62	-0.25	JPM
MRK	-0.06	-0.1	0.67	0.2	-0.45	0.32	-0.59	-0.62		0.32	MRK
XOM	-0.67	-0.47	0.81	0.9	-0.23	-0.19	-0.44	-0.25	0.32		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.9	F
XOM	+ 0.81	UBER
CRM	+ 0.8	T
MSFT	+ 0.73	META
JPM	+ 0.7	CRM
MRK	+ 0.67	UBER

High negative correlations

CRM	- 0.78	UBER
XOM	- 0.67	META
MRK	- 0.62	JPM
MRK	- 0.59	CRM
F	- 0.59	META
T	- 0.58	UBER

Voya Infrastructure Competition Risk-Adjusted Indicators

There is a big difference between Voya Etf performing well and Voya Infrastructure ETF 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 Infrastructure'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
META	1.36	0.06	0.03	0.21	1.51	(1.56)	3.43	(3.15)	7.43
MSFT	0.92	0.04	0.01	1.07	1.58	(0.87)	2.09	(1.73)	8.14
UBER	1.63	(0.33)	0.00	(26.89)	0.00	0.00	2.67	(5.35)	12.29
F	1.38	(0.08)	0.00	(0.17)	0.00	0.00	2.38	(2.81)	11.21
T	0.97	0.08	0.06	0.24	1.10	(1.04)	1.91	(1.84)	7.96
A	1.21	0.03	0.01	0.09	1.45	(1.33)	2.72	(2.42)	8.06
CRM	1.41	0.17	0.10	0.79	1.45	(1.59)	3.16	(2.88)	14.80
JPM	1.03	0.25	0.17	1.11	1.11	(1.17)	1.92	(1.42)	15.87
MRK	1.00	(0.17)	0.00	(0.68)	0.00	0.00	1.74	(2.17)	5.17
XOM	0.76	(0.15)	0.00	(0.37)	0.00	0.00	1.71	(1.67)	6.06

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