Voya Multi-manager Correlations

Mutual Funds . USA . 
Fund . Voya Multi Manager International
IIGIX Fund  USD 10.84  0.12  1.09%   
The current 90-days correlation between Voya Multi Manager and Small Pany Growth is 0.57 (i.e., Very weak diversification). The correlation of Voya Multi-manager 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 Multi-manager Correlation With Market

Very weak diversification

The correlation between Voya Multi Manager Internation and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Multi Manager Internation 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 Multi Manager International. 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

  0.65ILABX Voya Bond IndexPairCorr
  0.66ILBAX Voya Bond IndexPairCorr
  0.76ILBPX Voya Limited MaturityPairCorr
  0.72ILMBX Voya Limited MaturityPairCorr
  0.64ILUAX Voya Bond IndexPairCorr
  0.76IMBAX Voya Limited MaturityPairCorr
  0.9IMYCX Voya High YieldPairCorr
  0.69INGIX Voya Stock IndexPairCorr
  0.68INGBX Voya Global BondPairCorr
  0.89VPISX Voya Index SolutionPairCorr
  0.99INTIX Voya International IndexPairCorr
  0.94VPRDX Voya Morgan StanleyPairCorr
  0.73VPRAX Voya T RowePairCorr
  0.89VPSSX Voya Index SolutionPairCorr
  0.89VPSAX Voya Index SolutionPairCorr
  0.69IOGPX Vy Oppenheimer GlobalPairCorr
  0.65IOSAX Voya Global BondPairCorr
  0.65IOSIX Voya Global BondPairCorr
  0.64IOSSX Voya Global BondPairCorr
  0.99NAPIX Voya Multi ManagerPairCorr
  0.99NARCX Voya Multi ManagerPairCorr
  0.81NAWCX Voya Global EquityPairCorr
  0.82NAWGX Voya Global EquityPairCorr
  0.82NAWIX Voya Global EquityPairCorr
  0.79IPARX Voya Global PerspectivesPairCorr
  0.81IPEAX Voya Large CapPairCorr
  0.82IPEIX Voya Large CapPairCorr
  0.82IPESX Voya Large CapPairCorr
  0.82IPETX Voya Large CapPairCorr
  0.73IPIIX Ing Intermediate BondPairCorr
  0.9IPIMX Voya High YieldPairCorr
  0.72IPISX Voya Intermediate BondPairCorr
  0.8IPIRX Voya Global PerspectivesPairCorr
  0.9IPHYX Voya High YieldPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Multi-manager 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 Multi-manager'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.

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