Ing Intermediate Correlations

IPIIX Fund  USD 10.86  0.06  0.55%   
The correlation of Ing Intermediate 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.

Ing Intermediate Correlation With Market

Significant diversification

The correlation between Ing Intermediate Bond and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ing Intermediate 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 Ing Intermediate 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 Ing Mutual Fund

  1.0ILABX Voya Bond IndexPairCorr
  1.0ILBAX Voya Bond IndexPairCorr
  0.93ILBPX Voya Limited MaturityPairCorr
  0.93ILMBX Voya Limited MaturityPairCorr
  1.0ILUAX Voya Bond IndexPairCorr
  0.94IMBAX Voya Limited MaturityPairCorr
  0.77IMYCX Voya High YieldPairCorr
  0.98INGBX Voya Global BondPairCorr
  0.89INTIX Voya International IndexPairCorr
  0.97IOSAX Voya Global BondPairCorr
  0.98IOSIX Voya Global BondPairCorr
  0.97IOSSX Voya Global BondPairCorr
  0.82NAPIX Voya Multi ManagerPairCorr
  0.82NARCX Voya Multi ManagerPairCorr
  0.91NAWCX Voya Global EquityPairCorr
  0.91NAWGX Voya Global EquityPairCorr
  0.91NAWIX Voya Global EquityPairCorr
  0.8IPIMX Voya High YieldPairCorr
  1.0IPISX Voya Intermediate BondPairCorr
  0.81IPHYX Voya High YieldPairCorr

Moving against Ing Mutual Fund

  0.6IMOPX Voya Midcap OpportunitiesPairCorr
  0.6IMORX Voya Midcap OpportunitiesPairCorr
  0.6IMOWX Voya Midcap OpportunitiesPairCorr
  0.6IMOZX Voya Midcap OpportunitiesPairCorr
  0.49INGIX Voya Stock IndexPairCorr
  0.4IMCVX Voya Multi ManagerPairCorr
  0.69VPRSX Voya Jpmorgan SmallPairCorr
  0.37IOGPX Vy Oppenheimer GlobalPairCorr
  0.67VRLCX Voya Large CapPairCorr
  0.65IPSIX Voya Index PlusPairCorr
  0.65IPSSX Voya Index PlusPairCorr
  0.64IPMSX Voya Index PlusPairCorr
  0.64IPMIX Voya Index PlusPairCorr
  0.61IPLSX 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   
FIDAXMSVIX
BTOMSVIX
FIDAXBTO
PGFMXDVFYX
BTODVFYX
FIDAXDVFYX
  
High negative correlations   
FIDAXFTIXX
PGFMXFTIXX
BTOFTIXX
MSVIXFTIXX
DVFYXFTIXX

Risk-Adjusted Indicators

There is a big difference between Ing Mutual Fund performing well and Ing Intermediate 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 Ing Intermediate'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.