Index Plus Correlations

VIPAX Fund

USD 28.31 0.01 0.04%

The current 90-days correlation between Index Plus Largecap and Franklin Mutual Global is 0.42 (i.e., Very weak diversification). The correlation of Index Plus 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.

Index Plus Correlation With Market

Poor diversification

The correlation between Index Plus Largecap and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Index Plus Largecap and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Index Plus Largecap. 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 nation.

Moving together with Index Mutual Fund

0.91	IMCVX	Voya Multi Manager	Pair Corr
0.96	IMOPX	Voya Midcap Opportunities	Pair Corr
0.96	IMORX	Voya Midcap Opportunities	Pair Corr
0.96	IMOWX	Voya Midcap Opportunities	Pair Corr
0.96	IMOZX	Voya Midcap Opportunities	Pair Corr
0.99	INGIX	Voya Stock Index	Pair Corr
0.72	VPISX	Voya Index Solution	Pair Corr
0.79	VPRAX	Voya T Rowe	Pair Corr
0.73	VPSSX	Voya Index Solution	Pair Corr
0.96	VPRSX	Voya Jpmorgan Small	Pair Corr
0.73	VPSAX	Voya Index Solution	Pair Corr
0.94	IOGPX	Vy Oppenheimer Global	Pair Corr

Moving against Index Mutual Fund

0.64	IMBAX	Voya Limited Maturity	Pair Corr
0.62	ILBPX	Voya Limited Maturity	Pair Corr
0.62	ILMBX	Voya Limited Maturity	Pair Corr
0.6	ILBAX	Voya Bond Index	Pair Corr
0.58	ILABX	Voya Bond Index	Pair Corr
0.58	ILUAX	Voya Bond Index	Pair Corr
0.54	INGBX	Voya Global Bond	Pair Corr
0.46	INTIX	Voya International Index	Pair Corr
0.54	IOSAX	Voya Global Bond	Pair Corr
0.54	IOSIX	Voya Global Bond	Pair Corr
0.54	IOSSX	Voya Global Bond	Pair Corr
0.43	NAWIX	Voya Global Equity	Pair Corr
0.42	NAWCX	Voya Global Equity	Pair Corr
0.42	NAWGX	Voya Global Equity	Pair Corr
0.33	NAPIX	Voya Multi Manager	Pair Corr
0.32	NARCX	Voya Multi Manager	Pair Corr
0.6	IPIIX	Ing Intermediate Bond	Pair Corr
0.6	IPISX	Voya Intermediate Bond	Pair Corr

Related Correlations Analysis

	TEDIX	MSTGX	CABIX	XEHIX	LMLRX	ARECX
TEDIX		0.81	0.59	0.43	0.49	0.7	TEDIX
MSTGX	0.81		0.7	0.08	0.55	0.76	MSTGX
CABIX	0.59	0.7		0.51	0.96	0.89	CABIX
XEHIX	0.43	0.08	0.51		0.59	0.52	XEHIX
LMLRX	0.49	0.55	0.96	0.59		0.83	LMLRX
ARECX	0.7	0.76	0.89	0.52	0.83		ARECX
	TEDIX	MSTGX	CABIX	XEHIX	LMLRX	ARECX

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Risk-Adjusted Indicators

There is a big difference between Index Mutual Fund performing well and Index Plus 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 Index Plus' 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
TEDIX	0.66	0.01	0.00	(0.06)	0.00	0.00	1.01	(1.47)	7.35
MSTGX	0.31	0.07	0.23	0.14	0.34	(0.34)	0.74	(0.62)	1.58
CABIX	0.38	0.01	0.00	(0.05)	0.00	0.00	0.73	(0.80)	2.58
XEHIX	0.21	(0.03)	0.00	(0.35)	0.00	0.00	0.43	(0.71)	1.74
LMLRX	0.33	0.01	0.00	(0.05)	0.00	0.00	0.61	(0.69)	2.17
ARECX	0.77	(0.01)	0.00	(0.09)	0.00	0.00	1.56	(1.47)	4.45

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