Voya Index Correlations

Mutual Funds USA . 
Fund . Voya Index Plus
IPLSX Fund  USD 29.86  0.18  0.60%   
The current 90-days correlation between Voya Index Plus and Oklahoma College Savings is 0.94 (i.e., Almost no diversification). The correlation of Voya Index 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 Index Correlation With Market

Very weak diversification

The correlation between Voya Index Plus and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Index Plus 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 Index Plus. 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

  0.96INGIX Voya Stock IndexPairCorr
  0.82IPARX Voya Global PerspectivesPairCorr
  0.82IPIRX Voya Global PerspectivesPairCorr
  1.0IPLIX Voya Index PlusPairCorr
  0.69IPMSX Voya Index PlusPairCorr
  0.63IPSIX Voya Index PlusPairCorr
  0.63IPSSX Voya Index PlusPairCorr
  0.88VRRJX Voya Target RetirementPairCorr
  0.73VSSPX Voya Solution 2060PairCorr
  0.72IRGPX Voya Retirement GrowthPairCorr
  0.86IRSVX Voya Target RetirementPairCorr
  0.8VTRVX Voya Target InPairCorr
  0.76ISJBX Voya Stock IndexPairCorr
  0.79ISKSX Voya Index SolutionPairCorr
  0.86ISVLX Voya Index SolutionPairCorr
  0.72IUAAX Vy Invesco EquityPairCorr
  0.86IDXMX Voya Index SolutionPairCorr
  0.75IEOHX Voya Large CapPairCorr
  0.71VYRPX Voya Solution ConserPairCorr
  0.84IGEAX Vy T RowePairCorr
  0.68IXXVX Voya Index SolutionPairCorr
  0.8VTSAX Vanguard Total StockPairCorr
  0.96VFIAX Vanguard 500 IndexPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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