Voya Index Correlations

Mutual Funds . USA . 
Fund . Voya Index Solution
VIQSX Fund  USD 13.44  0.34  2.47%   
The current 90-days correlation between Voya Index Solution and Target Retirement 2040 is 0.91 (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

Poor diversification

The correlation between Voya Index Solution and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Index Solution 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 Voya Index Solution. 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

  0.63IMOPX Voya Midcap OpportunitiesPairCorr
  0.72IMYCX Voya High YieldPairCorr
  0.84INGIX Voya Stock IndexPairCorr
  1.0VPISX Voya Index SolutionPairCorr
  0.65INTIX Voya International IndexPairCorr
  0.81VPRDX Voya Morgan StanleyPairCorr
  0.87VPRAX Voya T RowePairCorr
  0.99VPSSX Voya Index SolutionPairCorr
  1.0VPSAX Voya Index SolutionPairCorr
  0.88IOGPX Vy Oppenheimer GlobalPairCorr
  0.77NAPIX Voya Multi ManagerPairCorr
  0.78NARCX Voya Multi ManagerPairCorr
  0.65NAWCX Voya Global EquityPairCorr
  0.65NAWGX Voya Global EquityPairCorr
  0.65NAWIX Voya Global EquityPairCorr
  0.95IPARX Voya Global PerspectivesPairCorr
  0.9IPEAX Voya Large CapPairCorr
  0.9IPEIX Voya Large CapPairCorr
  0.9IPESX Voya Large CapPairCorr
  0.9IPETX Voya Large CapPairCorr
  0.7IPIMX Voya High YieldPairCorr
  0.95IPIRX Voya Global PerspectivesPairCorr
  0.73IPHYX Voya High YieldPairCorr

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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