Voya Global Correlations

IGA Etf

USD 9.71 0.04 0.41%

The current 90-days correlation between Voya Global Advantage and Western Asset High is 0.15 (i.e., Average diversification). The correlation of Voya Global 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 Global Correlation With Market

Modest diversification

The correlation between Voya Global Advantage and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Global Advantage 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 Global Advantage. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Voya Etf

0.62	NYC	New York City	Pair Corr
0.86	SPDW	SPDR SP World	Pair Corr
0.7	IAUM	iShares Gold Trust	Pair Corr
0.61	BCD	abrdn Bloomberg All	Pair Corr
0.69	DVYE	iShares Emerging Markets	Pair Corr
0.74	IDHQ	Invesco SP International	Pair Corr
0.61	ARKG	ARK Genomic Revolution Downward Rally	Pair Corr
0.64	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.77	IBIG	iShares Trust	Pair Corr
0.8	SIVR	abrdn Physical Silver	Pair Corr
0.71	GLD	SPDR Gold Shares	Pair Corr
0.71	IEMG	iShares Core MSCI	Pair Corr
0.8	EMTL	SPDR DoubleLine Emerging	Pair Corr
0.78	GDO	Western Asset Global	Pair Corr
0.73	SKOR	FlexShares Credit	Pair Corr
0.82	GSEU	Goldman Sachs ActiveBeta	Pair Corr
0.88	JDVI	John Hancock Exchange	Pair Corr
0.89	IDV	iShares International Low Volatility	Pair Corr
0.76	BCIL	Exchange Listed Funds	Pair Corr
0.63	PPLT	abrdn Physical Platinum	Pair Corr
0.72	EMXF	iShares ESG Advanced	Pair Corr
0.76	IOCT	Innovator ETFs Trust	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.35	0.51	-0.71	0.82	0.42	-0.1	0.83	-0.78	-0.42	META
MSFT	-0.35		-0.62	0.24	-0.42	0.21	0.69	-0.46	0.58	-0.18	MSFT
UBER	0.51	-0.62		-0.12	0.72	-0.03	-0.48	0.71	-0.74	0.38	UBER
F	-0.71	0.24	-0.12		-0.38	-0.21	0.29	-0.41	0.55	0.78	F
T	0.82	-0.42	0.72	-0.38		0.11	-0.12	0.75	-0.78	-0.02	T
A	0.42	0.21	-0.03	-0.21	0.11		0.21	0.54	-0.03	-0.33	A
CRM	-0.1	0.69	-0.48	0.29	-0.12	0.21		-0.24	0.41	-0.09	CRM
JPM	0.83	-0.46	0.71	-0.41	0.75	0.54	-0.24		-0.78	-0.09	JPM
MRK	-0.78	0.58	-0.74	0.55	-0.78	-0.03	0.41	-0.78		0.1	MRK
XOM	-0.42	-0.18	0.38	0.78	-0.02	-0.33	-0.09	-0.09	0.1		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

JPM	+ 0.83	META
T	+ 0.82	META
XOM	+ 0.78	F
JPM	+ 0.75	T
T	+ 0.72	UBER
JPM	+ 0.71	UBER

High negative correlations

MRK	- 0.78	JPM
MRK	- 0.78	T
MRK	- 0.78	META
MRK	- 0.74	UBER
F	- 0.71	META
UBER	- 0.62	MSFT

Voya Global Competition Risk-Adjusted Indicators

There is a big difference between Voya Etf performing well and Voya Global 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 Global'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	1.31	0.26	0.15	(5.33)	1.48	(1.33)	3.22	(2.31)	7.11
MSFT	0.97	(0.03)	0.00	(0.12)	0.00	0.00	2.20	(1.90)	10.31
UBER	1.93	0.09	0.03	8.55	2.95	(1.87)	4.72	(5.35)	12.29
F	1.36	(0.19)	0.00	(0.25)	0.00	0.00	2.46	(2.90)	10.97
T	0.93	0.27	0.23	0.52	0.93	(1.08)	1.80	(1.75)	7.94
A	1.08	0.10	0.09	0.14	1.02	(1.33)	2.81	(1.91)	6.12
CRM	1.43	(0.06)	0.00	(0.08)	0.00	0.00	3.10	(2.95)	15.92
JPM	0.88	0.10	0.09	0.13	1.16	(0.99)	1.92	(1.43)	6.85
MRK	1.23	(0.06)	0.00	(1.21)	0.00	0.00	2.43	(1.81)	11.57
XOM	0.93	(0.09)	0.00	(0.17)	0.00	0.00	1.76	(2.14)	5.69

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