Voya Global Correlations

IGD Fund

USD 5.66 0.01 0.18%

The current 90-days correlation between Voya Global Equity and Eaton Vance Tax is -0.07 (i.e., Good 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

Good diversification

The correlation between Voya Global Equity and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Global Equity 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 Equity. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Voya Fund

0.63	KO	Coca Cola	Pair Corr
0.64	TRV	The Travelers Companies	Pair Corr
0.72	VZ	Verizon Communications	Pair Corr

Moving against Voya Fund

0.67	CRF	Cornerstone Strategic	Pair Corr
0.63	CLM	Cornerstone Strategic	Pair Corr
0.61	ETJ	Eaton Vance Risk	Pair Corr
0.58	AXP	American Express	Pair Corr
0.52	ETV	Eaton Vance Tax	Pair Corr
0.49	HPQ	HP Inc	Pair Corr
0.48	ADX	Adams Diversified Equity	Pair Corr
0.45	HD	Home Depot	Pair Corr
0.44	CAT	Caterpillar	Pair Corr
0.39	MSFT	Microsoft	Pair Corr
0.38	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	ETW	ETY	ETB	ETV	EXG	HYI	EHI	HIX	IGA	ETJ
ETW		0.85	0.42	0.61	0.93	0.66	0.71	0.59	0.25	0.33	ETW
ETY	0.85		0.77	0.91	0.71	0.51	0.37	0.42	-0.08	0.71	ETY
ETB	0.42	0.77		0.93	0.28	0.04	-0.13	-0.14	-0.52	0.96	ETB
ETV	0.61	0.91	0.93		0.43	0.23	0.05	0.13	-0.36	0.9	ETV
EXG	0.93	0.71	0.28	0.43		0.66	0.85	0.57	0.31	0.14	EXG
HYI	0.66	0.51	0.04	0.23	0.66		0.66	0.91	0.68	-0.1	HYI
EHI	0.71	0.37	-0.13	0.05	0.85	0.66		0.64	0.44	-0.28	EHI
HIX	0.59	0.42	-0.14	0.13	0.57	0.91	0.64		0.76	-0.22	HIX
IGA	0.25	-0.08	-0.52	-0.36	0.31	0.68	0.44	0.76		-0.56	IGA
ETJ	0.33	0.71	0.96	0.9	0.14	-0.1	-0.28	-0.22	-0.56		ETJ
	ETW	ETY	ETB	ETV	EXG	HYI	EHI	HIX	IGA	ETJ

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

ETJ	+ 0.96	ETB
EXG	+ 0.93	ETW
ETV	+ 0.93	ETB
ETV	+ 0.91	ETY
HIX	+ 0.91	HYI
ETJ	+ 0.9	ETV

High negative correlations

ETJ	- 0.56	IGA
IGA	- 0.52	ETB
IGA	- 0.36	ETV
ETJ	- 0.28	EHI
ETJ	- 0.22	HIX
HIX	- 0.14	ETB

Risk-Adjusted Indicators

There is a big difference between Voya Fund performing well and Voya Global 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 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
ETW	0.63	0.03	0.07	(0.01)	0.78	(0.65)	1.23	(1.19)	3.59
ETY	0.72	0.00	0.00	(0.06)	0.00	0.00	1.27	(1.68)	5.10
ETB	0.65	(0.06)	0.00	(0.17)	0.00	0.00	1.01	(1.49)	3.93
ETV	0.70	(0.05)	0.00	(0.17)	0.00	0.00	1.50	(1.59)	3.67
EXG	0.64	0.05	0.09	0.02	0.80	(0.70)	1.20	(1.20)	3.06
HYI	0.36	0.02	0.18	1.76	0.40	(0.37)	0.67	(0.67)	1.61
EHI	0.45	0.07	0.21	0.18	0.42	(0.56)	0.91	(0.74)	3.66
HIX	0.42	0.02	0.14	0.46	0.47	(0.50)	0.92	(0.94)	2.53
IGA	0.55	0.12	0.24	1.39	0.54	(0.62)	1.16	(1.04)	2.95
ETJ	0.62	(0.05)	0.00	(0.17)	0.00	0.00	1.22	(1.25)	4.67

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC