Voya Intermediate Correlations

IPISX Fund

USD 10.85 0.06 0.56%

The current 90-days correlation between Voya Intermediate Bond and Vanguard Financials Index is 0.41 (i.e., Very weak diversification). The correlation of Voya 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.

Voya Intermediate Correlation With Market

Average diversification

The correlation between Voya Intermediate 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 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 Voya 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 state.

Moving together with Voya Mutual Fund

0.98	ILABX	Voya Bond Index	Pair Corr
0.99	ILBAX	Voya Bond Index	Pair Corr
0.98	ILUAX	Voya Bond Index	Pair Corr
0.7	IMYCX	Voya High Yield	Pair Corr
0.97	INGBX	Voya Global Bond	Pair Corr
0.72	VPISX	Voya Index Solution	Pair Corr
0.69	INTIX	Voya International Index	Pair Corr
0.65	VPRDX	Voya Morgan Stanley	Pair Corr
0.74	VPSSX	Voya Index Solution	Pair Corr
0.73	VPSAX	Voya Index Solution	Pair Corr
0.71	IOGPX	Vy Oppenheimer Global	Pair Corr
0.95	IOSAX	Voya Global Bond	Pair Corr
0.95	IOSIX	Voya Global Bond	Pair Corr
0.95	IOSSX	Voya Global Bond	Pair Corr
0.72	NAPIX	Voya Multi Manager	Pair Corr
0.73	NARCX	Voya Multi Manager	Pair Corr
0.76	NAWCX	Voya Global Equity	Pair Corr
0.76	NAWGX	Voya Global Equity	Pair Corr
0.76	NAWIX	Voya Global Equity	Pair Corr
0.85	IPARX	Voya Global Perspectives	Pair Corr
0.73	IPEAX	Voya Large Cap	Pair Corr
0.73	IPEIX	Voya Large Cap	Pair Corr
0.73	IPESX	Voya Large Cap	Pair Corr
0.74	IPETX	Voya Large Cap	Pair Corr
1.0	IPIIX	Ing Intermediate Bond	Pair Corr
0.67	IPIMX	Voya High Yield	Pair Corr
0.85	IPIRX	Voya Global Perspectives	Pair Corr
0.71	IPHYX	Voya High Yield	Pair Corr

Related Correlations Analysis

	VFAIX	XFINX	FNPIX	ICFAX	FTIXX	BTO	FAFSX
VFAIX		0.4	0.98	0.29	0.0	0.81	0.76	VFAIX
XFINX	0.4		0.34	-0.34	0.0	0.43	0.33	XFINX
FNPIX	0.98	0.34		0.41	0.0	0.85	0.84	FNPIX
ICFAX	0.29	-0.34	0.41		0.0	0.51	0.6	ICFAX
FTIXX	0.0	0.0	0.0	0.0		0.0	0.0	FTIXX
BTO	0.81	0.43	0.85	0.51	0.0		0.94	BTO
FAFSX	0.76	0.33	0.84	0.6	0.0	0.94		FAFSX
	VFAIX	XFINX	FNPIX	ICFAX	FTIXX	BTO	FAFSX

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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

FNPIX	+ 0.98	VFAIX
FAFSX	+ 0.94	BTO
BTO	+ 0.85	FNPIX
FAFSX	+ 0.84	FNPIX
BTO	+ 0.81	VFAIX
FAFSX	+ 0.76	VFAIX

High negative correlations

ICFAX	- 0.34	XFINX
FAFSX	- 0.0	FTIXX
BTO	- 0.0	FTIXX
FTIXX	- 0.0	ICFAX
FTIXX	- 0.0	FNPIX
FTIXX	- 0.0	XFINX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VFAIX	0.67	0.01	0.00	0.01	0.98	(0.67)	1.27	(1.53)	4.70
XFINX	0.13	0.00	(0.01)	(0.06)	0.17	(0.17)	0.29	(0.28)	1.14
FNPIX	1.00	0.00	0.00	0.01	1.45	(1.02)	1.90	(2.35)	6.47
ICFAX	0.90	(0.20)	0.00	(0.26)	0.00	0.00	1.41	(2.10)	15.93
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BTO	0.94	(0.06)	0.00	(0.07)	0.00	0.00	2.31	(1.94)	6.94
FAFSX	0.71	(0.06)	0.00	(0.07)	0.00	0.00	1.21	(1.69)	4.80

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