Voya High Correlations

IMYCX Fund

USD 7.01 0.01 0.14%

The current 90-days correlation between Voya High Yield and SCOR PK is 0.04 (i.e., Significant diversification). The correlation of Voya High 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 High Correlation With Market

Good diversification

The correlation between Voya High Yield and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya High Yield 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 High Yield. 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 main economic indicators.

Moving together with Voya Mutual Fund

0.78	IMCVX	Voya Multi Manager	Pair Corr
0.66	IMOPX	Voya Midcap Opportunities Potential Growth	Pair Corr
0.66	IMORX	Voya Midcap Opportunities	Pair Corr
0.66	IMOWX	Voya Midcap Opportunities	Pair Corr
0.66	IMOZX	Voya Midcap Opportunities	Pair Corr
0.68	INGIX	Voya Stock Index	Pair Corr
0.79	VPISX	Voya Index Solution	Pair Corr
0.73	VPRAX	Voya T Rowe	Pair Corr
0.78	VPSSX	Voya Index Solution	Pair Corr
0.66	VPRSX	Voya Jpmorgan Small	Pair Corr
0.78	VPSAX	Voya Index Solution	Pair Corr
0.65	NAWCX	Voya Global Equity	Pair Corr
0.74	NAWGX	Voya Global Equity	Pair Corr
0.74	NAWIX	Voya Global Equity	Pair Corr
0.81	IPARX	Voya Global Perspectives	Pair Corr
0.7	IPEAX	Voya Large Cap	Pair Corr
0.7	IPEIX	Voya Large Cap	Pair Corr
0.65	IPESX	Voya Large Cap	Pair Corr
0.66	IPETX	Voya Large Cap	Pair Corr
0.91	IPIMX	Voya High Yield	Pair Corr
0.8	IPIRX	Voya Global Perspectives	Pair Corr

Moving against Voya Mutual Fund

0.33

VREQX

Voya Real Estate

Pair Corr

Related Correlations Analysis

	SCRYY	MSTSX	VIASP	XTWO	SVII	70082LAB3	XTWY	SEGI	FPCG	KMX
SCRYY		0.4	0.76	-0.21	-0.34	0.51	-0.38	0.4	0.0	0.61	SCRYY
MSTSX	0.4		0.08	-0.12	0.13	0.23	-0.36	0.09	0.0	0.1	MSTSX
VIASP	0.76	0.08		-0.33	-0.14	0.71	-0.43	0.66	0.0	0.63	VIASP
XTWO	-0.21	-0.12	-0.33		-0.6	-0.7	0.91	-0.75	0.0	0.27	XTWO
SVII	-0.34	0.13	-0.14	-0.6		0.37	-0.49	0.44	0.0	-0.43	SVII
70082LAB3	0.51	0.23	0.71	-0.7	0.37		-0.75	0.93	0.0	0.35	70082LAB3
XTWY	-0.38	-0.36	-0.43	0.91	-0.49	-0.75		-0.78	0.0	0.15	XTWY
SEGI	0.4	0.09	0.66	-0.75	0.44	0.93	-0.78		0.0	0.23	SEGI
FPCG	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	FPCG
KMX	0.61	0.1	0.63	0.27	-0.43	0.35	0.15	0.23	0.0		KMX
	SCRYY	MSTSX	VIASP	XTWO	SVII	70082LAB3	XTWY	SEGI	FPCG	KMX

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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

SEGI	+ 0.93	70082LAB3
XTWY	+ 0.91	XTWO
VIASP	+ 0.76	SCRYY
70082LAB3	+ 0.71	VIASP
SEGI	+ 0.66	VIASP
KMX	+ 0.63	VIASP

High negative correlations

SEGI	- 0.78	XTWY
XTWY	- 0.75	70082LAB3
SEGI	- 0.75	XTWO
70082LAB3	- 0.7	XTWO
SVII	- 0.6	XTWO
XTWY	- 0.49	SVII

Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya High 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 High'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
SCRYY	1.93	0.45	0.12	(0.71)	1.74	(2.85)	5.61	(3.52)	12.99
MSTSX	0.45	(0.01)	(0.11)	0.10	0.39	(0.59)	1.21	(0.84)	2.80
VIASP	0.75	0.10	(0.02)	(1.58)	1.11	(0.81)	2.28	(1.20)	7.18
XTWO	0.08	(0.01)	0.00	1.07	0.00	0.00	0.14	(0.12)	0.55
SVII	0.18	0.00	(0.17)	0.24	0.39	(0.29)	0.44	(0.53)	4.77
70082LAB3	0.70	0.09	(0.03)	(0.69)	0.99	(0.84)	1.75	(1.19)	6.86
XTWY	0.76	(0.10)	0.00	0.98	0.00	0.00	1.33	(1.70)	5.49
SEGI	10.19	2.80	0.16	(1.15)	9.90	(16.01)	28.57	(18.18)	62.86
FPCG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KMX	1.43	0.14	0.02	1.44	1.64	(1.55)	4.14	(3.24)	8.69

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