Voya Russia Correlations

Summary

IWRFXDelisted Fund

USD 0.68 0.00 0.00%

The current 90-days correlation between Voya Russia Fund and Virtus Convertible is 0.08 (i.e., Significant diversification). The correlation of Voya Russia 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 Russia Correlation With Market

Significant diversification

The correlation between Voya Russia Fund and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Russia Fund 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. 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 census.

Moving together with Voya Mutual Fund

0.67	JHQDX	Jpmorgan Hedged Equity	Pair Corr
0.65	VSTSX	Vanguard Total Stock	Pair Corr
0.63	VFIAX	Vanguard 500 Index	Pair Corr
0.63	CMGIX	Blackrock Mid Cap	Pair Corr
0.63	OGEAX	Jpmorgan Equity Index	Pair Corr
0.68	IPSHX	Pinnacle Sherman Multi	Pair Corr
0.75	SUSAX	Siit Ultra Short	Pair Corr
0.69	CNEIX	Alger Concentrated Equity	Pair Corr
0.79	RDPSX	Rising Dollar Profund	Pair Corr
0.8	FFRHX	Fidelity Advisor Floating	Pair Corr
0.71	CRF	Cornerstone Strategic	Pair Corr
0.7	LEQCX	Locorr Dynamic Equity	Pair Corr
0.66	VIGIX	Vanguard Growth Index	Pair Corr
0.64	FADTX	Fidelity Advisor Tec	Pair Corr
0.61	PGODX	Putnam Growth Opport	Pair Corr
0.76	BFRNX	Barrow Hanley Floating	Pair Corr
0.64	SPEDX	Alger Dynamic Opport	Pair Corr
0.63	CADVX	Calamos Dividend Growth	Pair Corr
0.68	SDSCX	Dreyfusthe Boston Pany	Pair Corr

Moving against Voya Mutual Fund

0.78	FNORX	Fidelity Nordic	Pair Corr
0.64	DFRSX	Asia Pacific Small	Pair Corr
0.42	CSJZX	Cohen Steers Realty	Pair Corr
0.33	ERH	Allspring Utilities And	Pair Corr
0.42	CSRSX	Cohen Steers Realty	Pair Corr

Related Correlations Analysis

	VAADX	CCD	GCV	AVK	PBXIX
VAADX		-0.63	0.92	0.91	0.91	VAADX
CCD	-0.63		-0.52	-0.46	-0.53	CCD
GCV	0.92	-0.52		0.93	0.79	GCV
AVK	0.91	-0.46	0.93		0.76	AVK
PBXIX	0.91	-0.53	0.79	0.76		PBXIX
	VAADX	CCD	GCV	AVK	PBXIX

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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

AVK	+ 0.93	GCV
GCV	+ 0.92	VAADX
AVK	+ 0.91	VAADX
PBXIX	+ 0.91	VAADX
PBXIX	+ 0.79	GCV
PBXIX	+ 0.76	AVK

High negative correlations

CCD	- 0.63	VAADX
PBXIX	- 0.53	CCD
GCV	- 0.52	CCD
AVK	- 0.46	CCD

Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Russia 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 Russia'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
VAADX	0.51	0.06	0.07	0.12	0.62	(0.60)	1.09	(0.91)	4.04
CCD	0.71	(0.01)	(0.02)	0.00	0.93	(0.76)	1.78	(1.69)	4.83
GCV	0.81	0.05	0.03	0.15	1.04	(0.82)	1.65	(1.52)	3.77
AVK	0.62	0.08	0.07	0.20	0.79	(0.75)	1.17	(0.87)	6.47
PBXIX	0.35	0.00	(0.02)	0.02	0.45	(0.43)	0.87	(0.62)	3.26

Voya Russia Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Voya Russia mutual fund to make a market-neutral strategy. Peer analysis of Voya Russia could also be used in its relative valuation, which is a method of valuing Voya Russia by comparing valuation metrics with similar companies.

Virtus Convertible Calamos Dynamic Convertible Gabelli Convertible And Advent Claymore Convertible Rationalpier 88 Convertible American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

Risk & Return

Correlation

Still Interested in Voya Russia Fund?

Investing in delisted funds can be risky, as the mutual fund is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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