Voya Bond Correlations

ILUAX Fund

USD 9.05 0.02 0.22%

The correlation of Voya Bond 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 Bond Correlation With Market

Average diversification

The correlation between Voya Bond Index and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Bond Index 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 Bond Index. 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 nation.

Moving together with Voya Mutual Fund

1.0	ILABX	Voya Bond Index	Pair Corr
1.0	ILBAX	Voya Bond Index	Pair Corr
0.95	ILBPX	Voya Limited Maturity	Pair Corr
0.95	ILMBX	Voya Limited Maturity	Pair Corr
0.95	IMBAX	Voya Limited Maturity	Pair Corr
0.76	IMYCX	Voya High Yield	Pair Corr
0.98	INGBX	Voya Global Bond	Pair Corr
0.89	INTIX	Voya International Index	Pair Corr
0.98	IOSAX	Voya Global Bond	Pair Corr
0.98	IOSIX	Voya Global Bond	Pair Corr
0.98	IOSSX	Voya Global Bond	Pair Corr
0.82	NAPIX	Voya Multi Manager	Pair Corr
0.82	NARCX	Voya Multi Manager	Pair Corr
0.92	NAWCX	Voya Global Equity	Pair Corr
0.92	NAWGX	Voya Global Equity	Pair Corr
0.92	NAWIX	Voya Global Equity	Pair Corr
1.0	IPIIX	Ing Intermediate Bond	Pair Corr
0.78	IPIMX	Voya High Yield	Pair Corr
1.0	IPISX	Voya Intermediate Bond	Pair Corr
0.8	IPHYX	Voya High Yield	Pair Corr

Moving against Voya Mutual Fund

0.6	IMOPX	Voya Midcap Opportunities	Pair Corr
0.6	IMORX	Voya Midcap Opportunities	Pair Corr
0.6	IMOWX	Voya Midcap Opportunities	Pair Corr
0.6	IMOZX	Voya Midcap Opportunities	Pair Corr
0.53	INGIX	Voya Stock Index	Pair Corr
0.42	IMCVX	Voya Multi Manager	Pair Corr
0.7	VPRSX	Voya Jpmorgan Small	Pair Corr
0.39	IOGPX	Vy Oppenheimer Global	Pair Corr
0.66	VRLCX	Voya Large Cap	Pair Corr
0.65	IPMSX	Voya Index Plus	Pair Corr
0.65	IPMIX	Voya Index Plus	Pair Corr
0.65	IPSIX	Voya Index Plus	Pair Corr
0.65	IPSSX	Voya Index Plus	Pair Corr
0.61	IPLSX	Voya Index Plus	Pair Corr

Related Correlations Analysis

	CCMSX	GQESX	REMVX	EICVX	VFFVX	AUERX	KMVAX
CCMSX		0.0	0.0	0.0	0.0	0.0	0.0	CCMSX
GQESX	0.0		0.2	0.51	0.89	0.38	0.56	GQESX
REMVX	0.0	0.2		0.8	0.29	-0.42	-0.44	REMVX
EICVX	0.0	0.51	0.8		0.46	-0.3	-0.19	EICVX
VFFVX	0.0	0.89	0.29	0.46		0.57	0.65	VFFVX
AUERX	0.0	0.38	-0.42	-0.3	0.57		0.92	AUERX
KMVAX	0.0	0.56	-0.44	-0.19	0.65	0.92		KMVAX
	CCMSX	GQESX	REMVX	EICVX	VFFVX	AUERX	KMVAX

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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

KMVAX	+ 0.92	AUERX
VFFVX	+ 0.89	GQESX
EICVX	+ 0.8	REMVX
KMVAX	+ 0.65	VFFVX
AUERX	+ 0.57	VFFVX
KMVAX	+ 0.56	GQESX

High negative correlations

KMVAX	- 0.44	REMVX
AUERX	- 0.42	REMVX
AUERX	- 0.3	EICVX
KMVAX	- 0.19	EICVX
KMVAX	- 0.0	CCMSX
AUERX	- 0.0	CCMSX

Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Bond 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 Bond'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
CCMSX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GQESX	0.62	0.02	0.00	(0.03)	0.00	0.00	1.23	(1.52)	3.87
REMVX	0.80	0.09	0.12	0.12	0.94	(0.87)	1.67	(1.56)	5.76
EICVX	0.59	0.09	0.15	0.10	0.72	(0.61)	1.21	(1.42)	2.93
VFFVX	0.63	0.01	0.00	(0.06)	0.00	0.00	1.12	(1.31)	3.75
AUERX	0.84	(0.06)	0.00	(0.15)	0.00	0.00	1.57	(2.24)	4.19
KMVAX	1.13	(0.04)	0.00	(0.11)	0.00	0.00	1.72	(2.51)	9.45

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