Voya Us Correlations

Mutual Funds . USA . 
Fund . Voya Stock Index
INGIX Fund  USD 19.56  0.04  0.20%   
The current 90-days correlation between Voya Stock Index and Goldman Sachs Global is -0.13 (i.e., Good diversification). The correlation of Voya Us 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 Us Correlation With Market

Good diversification

The correlation between Voya Stock Index 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 Stock 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 Stock 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 gross domestic product.

Moving together with Voya Mutual Fund

  0.82VTSAX Vanguard Total StockPairCorr
  0.82VFIAX Vanguard 500 IndexPairCorr
  0.82VTSMX Vanguard Total StockPairCorr
  0.82VITSX Vanguard Total StockPairCorr
  0.82VSMPX Vanguard Total StockPairCorr
  0.82VSTSX Vanguard Total StockPairCorr
  0.82VFINX Vanguard 500 IndexPairCorr
  0.82VFFSX Vanguard 500 IndexPairCorr
  0.77VINIX Vanguard InstitutionalPairCorr
  0.77VIIIX Vanguard InstitutionalPairCorr
  0.79WHIYX Ivy High IncomePairCorr
  0.75IVHIX Ivy High IncomePairCorr
  0.75IHIFX Ivy High IncomePairCorr
  0.79WRHIX Ivy High IncomePairCorr
  0.76WHIAX Ivy High IncomePairCorr
  0.73HD Home DepotPairCorr
  0.73BA BoeingPairCorr
  0.81JPM JPMorgan ChasePairCorr
  0.61DIS Walt DisneyPairCorr
  0.8BAC Bank of AmericaPairCorr
  0.85AXP American ExpressPairCorr

Moving against Voya Mutual Fund

  0.55TRV The Travelers CompaniesPairCorr
  0.34KO Coca ColaPairCorr
  0.34JNJ Johnson JohnsonPairCorr
  0.33PG Procter GamblePairCorr
  0.32MRK Merck CompanyPairCorr

Related Correlations Analysis

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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   
TACLX
+ 0.9
GARGX
GMLVX
+ 0.81
MSTGX
XEHIX
+ 0.78
SGICX
MSTGX
+ 0.76
GARGX
TACLX
+ 0.67
MSTGX
GMLVX
+ 0.66
GARGX
  
High negative correlations   
SGICX
- 0.13
MSTGX

Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Us 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 Us' 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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