Voya Floating Correlations

IFRIX Fund

USD 8.12 0.00 0.00%

The current 90-days correlation between Voya Floating Rate and Eip Growth And is 0.11 (i.e., Average diversification). The correlation of Voya Floating 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 Floating Correlation With Market

Good diversification

The correlation between Voya Floating Rate and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Floating Rate 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 Floating Rate. 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

0.83	IMOPX	Voya Midcap Opportunities	Pair Corr
0.68	IPIMX	Voya High Yield	Pair Corr

Moving against Voya Mutual Fund

0.63	INGBX	Voya Global Bond	Pair Corr
0.63	IOSSX	Voya Global Bond	Pair Corr
0.62	IOSAX	Voya Global Bond	Pair Corr
0.62	IOSIX	Voya Global Bond	Pair Corr
0.57	INTIX	Voya International Index	Pair Corr
0.55	NARCX	Voya Multi Manager	Pair Corr
0.53	NAPIX	Voya Multi Manager	Pair Corr
0.46	ILBAX	Voya Bond Index	Pair Corr
0.45	ILUAX	Voya Bond Index	Pair Corr
0.37	ILABX	Voya Bond Index	Pair Corr
0.31	IMCVX	Voya Multi Manager	Pair Corr
0.47	VREQX	Voya Real Estate	Pair Corr

Related Correlations Analysis

	EIPIX	HDCAX	MSSGX	OPTCX	LMUSX	EICVX
EIPIX		0.52	0.4	0.42	0.8	0.9	EIPIX
HDCAX	0.52		0.73	0.75	0.71	0.38	HDCAX
MSSGX	0.4	0.73		0.97	0.74	0.23	MSSGX
OPTCX	0.42	0.75	0.97		0.79	0.27	OPTCX
LMUSX	0.8	0.71	0.74	0.79		0.71	LMUSX
EICVX	0.9	0.38	0.23	0.27	0.71		EICVX
	EIPIX	HDCAX	MSSGX	OPTCX	LMUSX	EICVX

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Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Floating 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 Floating'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
EIPIX	0.75	(0.01)	0.00	(0.04)	0.00	0.00	1.33	(1.08)	10.11
HDCAX	0.45	0.02	0.01	0.05	0.62	(0.47)	0.75	(1.03)	3.80
MSSGX	1.53	0.47	0.25	2.16	1.41	(1.89)	3.70	(2.26)	11.77
OPTCX	0.15	0.02	0.06	0.62	0.00	(0.22)	0.32	(0.21)	1.35
LMUSX	0.67	0.04	0.02	0.10	1.09	(0.67)	1.23	(1.49)	6.37
EICVX	0.50	(0.02)	0.00	(0.11)	0.00	0.00	1.07	(0.74)	3.88

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