Voya International Correlations

INTIX Fund  USD 11.21  0.06  0.54%   
The current 90-days correlation between Voya International Index and Voya Bond Index is -0.18 (i.e., Good diversification). The correlation of Voya International 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 International Correlation With Market

Very weak diversification

The correlation between Voya International Index and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya International 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 International 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

  0.76ILABX Voya Bond IndexPairCorr
  0.74ILBAX Voya Bond IndexPairCorr
  0.74ILUAX Voya Bond IndexPairCorr
  0.84INGBX Voya Global BondPairCorr
  0.78IOGPX Vy Oppenheimer GlobalPairCorr
  0.84IOSAX Voya Global BondPairCorr
  0.84IOSIX Voya Global BondPairCorr
  0.84IOSSX Voya Global BondPairCorr
  0.81NAPIX Voya Multi ManagerPairCorr
  0.91NARCX Voya Multi ManagerPairCorr
  0.74IPIIX Ing Intermediate BondPairCorr
  0.74IPISX Voya Intermediate BondPairCorr

Moving against Voya Mutual Fund

  0.72IMOPX Voya Midcap OpportunitiesPairCorr
  0.72IMORX Voya Midcap OpportunitiesPairCorr
  0.72IMOWX Voya Midcap OpportunitiesPairCorr
  0.72IMOZX Voya Midcap OpportunitiesPairCorr
  0.57INGIX Voya Stock IndexPairCorr
  0.44IMCVX Voya Multi ManagerPairCorr
  0.69IPEAX Voya Large CapPairCorr
  0.67IPEIX Voya Large CapPairCorr
  0.58VPRSX Voya Jpmorgan SmallPairCorr
  0.51NAWGX Voya Global EquityPairCorr
  0.51NAWIX Voya Global EquityPairCorr
  0.49NAWCX Voya Global EquityPairCorr
  0.45VPRAX Voya T RowePairCorr
  0.32VPSAX Voya Index SolutionPairCorr
  0.69IPESX Voya Large CapPairCorr
  0.69IPETX Voya Large CapPairCorr
  0.63IPLIX Voya Index PlusPairCorr
  0.63IPLSX Voya Index PlusPairCorr
  0.63VRLCX Voya Large CapPairCorr
  0.6IPMSX Voya Index PlusPairCorr

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   
ILUAXILBAX
IMORXIMOPX
IMBAXILBPX
ILBAXILABX
ILUAXILABX
IMBAXILMBX
  
High negative correlations   
IMORXILUAX
IMOPXILUAX
IMORXILBAX
IMOPXILBAX
IMORXILABX
IMOPXILABX

Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya International 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 International'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ILABX  0.23 (0.04) 0.00 (0.53) 0.00 
 0.44 
 1.54 
ILBAX  0.24 (0.01) 0.00  0.27  0.00 
 0.44 
 1.54 
ILBPX  0.10  0.00 (0.79) 0.35  0.00 
 0.21 
 0.95 
ILMBX  0.09  0.00 (0.79) 0.01  0.00 
 0.21 
 0.94 
ILUAX  0.23 (0.02) 0.00  0.37  0.00 
 0.44 
 1.54 
IMBAX  0.09  0.00 (0.76)(0.18) 0.03 
 0.22 
 0.86 
IMCDX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
IMCVX  0.58  0.07 (0.05) 0.98  0.53 
 1.14 
 3.59 
IMOPX  0.74  0.12  0.13  0.23  0.75 
 1.86 
 4.41 
IMORX  0.75  0.12  0.13  0.23  0.68 
 1.95 
 4.38