Voya Small Correlations

VSPRX Fund

USD 15.74 0.32 1.99%

The current 90-days correlation between Voya Small Pany and Fmasx is 0.1 (i.e., Average diversification). The correlation of Voya Small 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 Small Correlation With Market

Modest diversification

The correlation between Voya Small Pany and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Small Pany 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 Small Pany. 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 metropolitan statistical area.

Moving together with Voya Mutual Fund

0.85	IMOPX	Voya Midcap Opportunities	Pair Corr
0.78	IMORX	Voya Midcap Opportunities	Pair Corr
0.87	IMOWX	Voya Midcap Opportunities	Pair Corr
0.82	IMOZX	Voya Midcap Opportunities	Pair Corr
0.81	IMYCX	Voya High Yield	Pair Corr
0.89	INGIX	Voya Stock Index	Pair Corr
0.84	VPISX	Voya Index Solution	Pair Corr
0.79	VPRAX	Voya T Rowe	Pair Corr
0.84	VPSSX	Voya Index Solution	Pair Corr
0.97	VPRSX	Voya Jpmorgan Small	Pair Corr
0.84	VPSAX	Voya Index Solution	Pair Corr
0.76	NAWCX	Voya Global Equity	Pair Corr
0.68	NAWGX	Voya Global Equity	Pair Corr
0.68	NAWIX	Voya Global Equity	Pair Corr
0.83	IPARX	Voya Global Perspectives	Pair Corr
0.88	IPEAX	Voya Large Cap	Pair Corr
0.88	IPEIX	Voya Large Cap	Pair Corr
0.88	IPESX	Voya Large Cap	Pair Corr
0.88	IPETX	Voya Large Cap	Pair Corr
0.72	IPIMX	Voya High Yield	Pair Corr
0.73	IPIRX	Voya Global Perspectives	Pair Corr

Related Correlations Analysis

	FMASX	BWDIX	OPTCX	MFTFX	TMVAX	WGNIX	ALNVX	EIPIX
FMASX		0.54	0.24	-0.01	0.82	0.69	0.5	0.73	FMASX
BWDIX	0.54		0.12	0.07	0.74	0.63	0.62	0.5	BWDIX
OPTCX	0.24	0.12		0.73	0.33	0.64	0.08	0.38	OPTCX
MFTFX	-0.01	0.07	0.73		0.09	0.34	0.11	0.06	MFTFX
TMVAX	0.82	0.74	0.33	0.09		0.84	0.67	0.82	TMVAX
WGNIX	0.69	0.63	0.64	0.34	0.84		0.61	0.82	WGNIX
ALNVX	0.5	0.62	0.08	0.11	0.67	0.61		0.64	ALNVX
EIPIX	0.73	0.5	0.38	0.06	0.82	0.82	0.64		EIPIX
	FMASX	BWDIX	OPTCX	MFTFX	TMVAX	WGNIX	ALNVX	EIPIX

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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

WGNIX	+ 0.84	TMVAX
TMVAX	+ 0.82	FMASX
EIPIX	+ 0.82	TMVAX
EIPIX	+ 0.82	WGNIX
TMVAX	+ 0.74	BWDIX
EIPIX	+ 0.73	FMASX

High negative correlations

MFTFX

- 0.01

FMASX

Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Small 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 Small'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
FMASX	0.75	(0.04)	0.00	(0.65)	0.00	0.00	1.27	(2.11)	5.83
BWDIX	0.09	(0.03)	0.00	(0.47)	0.00	0.00	0.20	(0.20)	1.94
OPTCX	0.15	0.03	0.19	0.52	0.00	(0.21)	0.32	(0.21)	1.35
MFTFX	0.91	0.14	0.09	26.80	1.38	(0.88)	1.70	(2.06)	5.15
TMVAX	0.97	(0.07)	0.00	(0.75)	0.00	0.00	1.95	(1.69)	14.59
WGNIX	0.70	(0.05)	0.00	(0.37)	0.00	0.00	1.78	(1.43)	8.06
ALNVX	0.17	(0.04)	0.00	(1.44)	0.00	0.00	0.32	(0.43)	1.29
EIPIX	0.74	(0.02)	0.00	(0.08)	0.00	0.00	1.33	(1.09)	9.39

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