Voya Global Correlations

Mutual Funds . USA . 
Fund . Voya Global Bond
IOSIX Fund  USD 8.10  0.01  0.12%   
The current 90-days correlation between Voya Global Bond and Ab Bond Inflation is 0.19 (i.e., Average diversification). The correlation of Voya Global 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 Global Correlation With Market

Average diversification

The correlation between Voya Global Bond and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Global Bond 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 Global Bond. 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

  0.97FGBRX Templeton Global BondPairCorr
  0.97FBNRX Templeton Global BondPairCorr
  0.98RCWBX Capital World BondPairCorr
  0.98CCWFX Capital World BondPairCorr
  0.98CCWCX Capital World BondPairCorr
  0.98RCWEX Capital World BondPairCorr
  0.98CCWEX Capital World BondPairCorr
  0.98RCWCX Capital World BondPairCorr
  0.98RCWGX Capital World BondPairCorr
  0.98RCWFX Capital World BondPairCorr
  0.68PDI Pimco Dynamic IncomePairCorr
  0.68UIPIX Ultrashort Mid CapPairCorr
  0.9FTCAX Templeton Strained BondPairCorr
  0.7TRV The Travelers CompaniesPairCorr
  0.77T ATT Inc Earnings Call TomorrowPairCorr
  0.82VZ Verizon CommunicationsPairCorr
  0.72MCD McDonaldsPairCorr
  0.64IBM International BusinessPairCorr
  0.75KO Coca ColaPairCorr
  0.77PG Procter GamblePairCorr

Moving against Voya Mutual Fund

  0.31TCTGX Transamerica CleartrackPairCorr
  0.55AXP American ExpressPairCorr
  0.53MSFT MicrosoftPairCorr
  0.51BAC Bank of AmericaPairCorr
  0.4HD Home DepotPairCorr
  0.37DIS Walt DisneyPairCorr
  0.31BA BoeingPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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

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