Voya Global Correlations

Mutual Funds . USA . 
Fund . Voya Global Equity
NAWIX Fund  USD 48.46  0.19  0.39%   
The current 90-days correlation between Voya Global Equity and Us Government Securities is 0.46 (i.e., Very weak 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

Very weak diversification

The correlation between Voya Global Equity and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Global Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Voya Global Equity. 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

  0.64INGIX Voya Stock IndexPairCorr
  1.0NAWCX Voya Global EquityPairCorr
  1.0NAWGX Voya Global EquityPairCorr
  0.86IPARX Voya Global PerspectivesPairCorr
  0.76IPIIX Ing Intermediate BondPairCorr
  0.61IPIMX Voya High YieldPairCorr
  0.86IPIRX Voya Global PerspectivesPairCorr
  0.61IPMSX Voya Index PlusPairCorr
  0.76VREQX Voya Real EstatePairCorr
  0.83VRRJX Voya Target RetirementPairCorr
  0.71VSSPX Voya Solution 2060PairCorr
  0.7IRGPX Voya Retirement GrowthPairCorr
  0.75IRSVX Voya Target RetirementPairCorr
  0.86VTRVX Voya Target InPairCorr
  0.85ISKSX Voya Index SolutionPairCorr
  0.79ISVLX Voya Index SolutionPairCorr
  0.89IBRIX Vy Blackrock InflationPairCorr
  0.7VVIEX Voya Vacs IndexPairCorr
  0.92IUAAX Vy Invesco EquityPairCorr
  0.81IDXMX Voya Index SolutionPairCorr
  0.73IVRSX Vy Clarion RealPairCorr
  0.69VGSBX Vy Goldman SachsPairCorr
  0.71VYRPX Voya Solution ConserPairCorr
  0.75IXXVX Voya Index SolutionPairCorr
  0.71TEDRX Franklin Mutual GlobalPairCorr
  0.73FMDRX Franklin Mutual GlobalPairCorr
  0.65DOXWX Dodge Cox GlobalPairCorr
  0.65DODWX Dodge Global StockPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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