Vy Oppenheimer Correlations

IOGPX Fund

USD 6.84 0.09 1.33%

The current 90-days correlation between Vy Oppenheimer Global and Nuveen Santa Barbara is 0.87 (i.e., Very poor diversification). The correlation of Vy Oppenheimer 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.

Vy Oppenheimer Correlation With Market

Poor diversification

The correlation between Vy Oppenheimer Global and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vy Oppenheimer Global 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 Vy Oppenheimer Global. 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 american community survey.

Moving together with IOGPX Mutual Fund

0.93	IMCVX	Voya Multi Manager	Pair Corr
0.94	IMOPX	Voya Midcap Opportunities	Pair Corr
0.94	IMORX	Voya Midcap Opportunities	Pair Corr
0.94	IMOWX	Voya Midcap Opportunities	Pair Corr
0.94	IMOZX	Voya Midcap Opportunities	Pair Corr
0.97	INGIX	Voya Stock Index	Pair Corr
0.87	VPISX	Voya Index Solution	Pair Corr
0.89	VPRAX	Voya T Rowe	Pair Corr
0.88	VPSSX	Voya Index Solution	Pair Corr
0.89	VPRSX	Voya Jpmorgan Small	Pair Corr
0.88	VPSAX	Voya Index Solution	Pair Corr
0.73	IPARX	Voya Global Perspectives	Pair Corr
0.65	IPEAX	Voya Large Cap	Pair Corr
0.63	IPEIX	Voya Large Cap	Pair Corr
0.63	IPESX	Voya Large Cap	Pair Corr
0.64	IPETX	Voya Large Cap	Pair Corr
0.72	IPIRX	Voya Global Perspectives	Pair Corr

Moving against IOGPX Mutual Fund

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

Related Correlations Analysis

	NSBCX	PIGDX	SRGAX	GGRYX	ARTSX	LMLRX	AUERX
NSBCX		0.1	0.91	0.75	0.83	0.79	0.75	NSBCX
PIGDX	0.1		0.46	0.72	-0.28	0.64	-0.15	PIGDX
SRGAX	0.91	0.46		0.93	0.64	0.93	0.63	SRGAX
GGRYX	0.75	0.72	0.93		0.4	0.98	0.42	GGRYX
ARTSX	0.83	-0.28	0.64	0.4		0.44	0.92	ARTSX
LMLRX	0.79	0.64	0.93	0.98	0.44		0.42	LMLRX
AUERX	0.75	-0.15	0.63	0.42	0.92	0.42		AUERX
	NSBCX	PIGDX	SRGAX	GGRYX	ARTSX	LMLRX	AUERX

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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

LMLRX	+ 0.98	GGRYX
GGRYX	+ 0.93	SRGAX
LMLRX	+ 0.93	SRGAX
AUERX	+ 0.92	ARTSX
SRGAX	+ 0.91	NSBCX
ARTSX	+ 0.83	NSBCX

High negative correlations

ARTSX	- 0.28	PIGDX
AUERX	- 0.15	PIGDX

Risk-Adjusted Indicators

There is a big difference between IOGPX Mutual Fund performing well and Vy Oppenheimer 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 Vy Oppenheimer'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
NSBCX	0.67	(0.05)	0.00	(0.10)	0.00	0.00	1.03	(1.31)	3.24
PIGDX	0.82	0.08	0.07	0.09	1.13	(0.83)	1.84	(1.68)	7.09
SRGAX	0.66	(0.01)	0.00	(0.04)	0.00	0.00	1.25	(1.51)	3.64
GGRYX	0.54	0.01	0.00	(0.02)	0.00	0.00	1.01	(1.15)	3.13
ARTSX	1.18	(0.09)	0.00	(0.12)	0.00	0.00	2.24	(3.17)	5.69
LMLRX	0.33	(0.01)	0.00	(0.07)	0.00	0.00	0.61	(0.69)	2.17
AUERX	0.86	(0.05)	0.00	(0.10)	0.00	0.00	1.59	(2.24)	4.19

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