Voya Multi-manager Correlations

IMCVX Fund

USD 9.35 0.03 0.32%

The current 90-days correlation between Voya Multi Manager and T Rowe Price is 0.97 (i.e., Almost no 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

Poor diversification

The correlation between Voya Multi Manager Mid and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Multi Manager Mid 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 Mid. 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 real.

Moving together with Voya Mutual Fund

0.89	IMOPX	Voya Midcap Opportunities	Pair Corr
0.89	IMORX	Voya Midcap Opportunities	Pair Corr
0.89	IMOWX	Voya Midcap Opportunities	Pair Corr
0.89	IMOZX	Voya Midcap Opportunities	Pair Corr
0.93	INGIX	Voya Stock Index	Pair Corr
0.8	VPISX	Voya Index Solution	Pair Corr
0.91	VPRAX	Voya T Rowe	Pair Corr
0.81	VPSSX	Voya Index Solution	Pair Corr
0.9	VPRSX	Voya Jpmorgan Small	Pair Corr
0.81	VPSAX	Voya Index Solution	Pair Corr
0.93	IOGPX	Vy Oppenheimer Global	Pair Corr
0.64	IPARX	Voya Global Perspectives	Pair Corr
0.62	IPEAX	Voya Large Cap	Pair Corr
0.61	IPETX	Voya Large Cap	Pair Corr
0.63	IPIRX	Voya Global Perspectives	Pair Corr

Moving against Voya Mutual Fund

0.4	ILBAX	Voya Bond Index	Pair Corr
0.4	IMBAX	Voya Limited Maturity	Pair Corr
0.39	ILUAX	Voya Bond Index	Pair Corr
0.38	ILABX	Voya Bond Index	Pair Corr
0.37	ILBPX	Voya Limited Maturity	Pair Corr
0.37	ILMBX	Voya Limited Maturity	Pair Corr
0.37	INGBX	Voya Global Bond	Pair Corr
0.37	IOSAX	Voya Global Bond	Pair Corr
0.37	IOSIX	Voya Global Bond	Pair Corr
0.37	IOSSX	Voya Global Bond	Pair Corr
0.4	IPIIX	Ing Intermediate Bond	Pair Corr
0.39	IPISX	Voya Intermediate Bond	Pair Corr

Related Correlations Analysis

	RRMVX	AOPAX	FTHSX	ARSMX	BMGKX	BPSCX
RRMVX		-0.11	0.89	0.8	0.89	0.96	RRMVX
AOPAX	-0.11		-0.43	-0.18	-0.34	-0.2	AOPAX
FTHSX	0.89	-0.43		0.82	0.96	0.93	FTHSX
ARSMX	0.8	-0.18	0.82		0.76	0.81	ARSMX
BMGKX	0.89	-0.34	0.96	0.76		0.95	BMGKX
BPSCX	0.96	-0.2	0.93	0.81	0.95		BPSCX
	RRMVX	AOPAX	FTHSX	ARSMX	BMGKX	BPSCX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

BPSCX	+ 0.96	RRMVX
BMGKX	+ 0.96	FTHSX
BPSCX	+ 0.95	BMGKX
BPSCX	+ 0.93	FTHSX
FTHSX	+ 0.89	RRMVX
BMGKX	+ 0.89	RRMVX

High negative correlations

FTHSX	- 0.43	AOPAX
BMGKX	- 0.34	AOPAX
BPSCX	- 0.2	AOPAX
ARSMX	- 0.18	AOPAX
AOPAX	- 0.11	RRMVX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RRMVX	0.73	(0.04)	0.00	(0.08)	0.00	0.00	1.27	(1.60)	3.46
AOPAX	0.47	0.04	0.08	0.06	0.66	(0.49)	1.15	(1.14)	3.90
FTHSX	0.91	(0.11)	0.00	(0.15)	0.00	0.00	1.71	(1.93)	4.02
ARSMX	0.82	(0.21)	0.00	(0.68)	0.00	0.00	1.13	(1.56)	8.46
BMGKX	1.52	(0.15)	0.00	(0.16)	0.00	0.00	2.21	(4.47)	7.61
BPSCX	0.85	(0.08)	0.00	(0.12)	0.00	0.00	1.61	(2.10)	4.06

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