Voya Index Correlations

VPISX Fund

USD 18.82 0.09 0.48%

The current 90-days correlation between Voya Index Solution and Long Term Government Fund is -0.02 (i.e., Good 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

Very poor diversification

The correlation between Voya Index Solution and DJI is 0.85 (i.e., Very 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 main economic indicators.

Moving together with Voya Mutual Fund

0.77	ILABX	Voya Bond Index	Pair Corr
0.7	ILBAX	Voya Bond Index	Pair Corr
0.63	ILMBX	Voya Limited Maturity	Pair Corr
0.69	ILUAX	Voya Bond Index	Pair Corr
0.63	IMBAX	Voya Limited Maturity	Pair Corr
0.78	IMOPX	Voya Midcap Opportunities	Pair Corr
0.75	IMYCX	Voya High Yield	Pair Corr
0.99	INGIX	Voya Stock Index	Pair Corr
0.88	INTIX	Voya International Index	Pair Corr
0.66	VPRDX	Voya Morgan Stanley	Pair Corr
0.94	VPRAX	Voya T Rowe	Pair Corr
1.0	VPSSX	Voya Index Solution	Pair Corr
1.0	VPSAX	Voya Index Solution	Pair Corr
0.97	IOGPX	Vy Oppenheimer Global	Pair Corr
0.75	NAPIX	Voya Multi Manager	Pair Corr
0.72	NARCX	Voya Multi Manager	Pair Corr
0.88	IPARX	Voya Global Perspectives	Pair Corr
0.73	IPEAX	Voya Large Cap	Pair Corr
0.74	IPEIX	Voya Large Cap	Pair Corr
0.74	IPESX	Voya Large Cap	Pair Corr
0.73	IPETX	Voya Large Cap	Pair Corr
0.72	IPIIX	Ing Intermediate Bond	Pair Corr
0.86	IPIMX	Voya High Yield	Pair Corr
0.71	IPISX	Voya Intermediate Bond	Pair Corr
0.95	IPIRX	Voya Global Perspectives	Pair Corr
0.84	IPHYX	Voya High Yield	Pair Corr

Related Correlations Analysis

	PGOVX	PYUSX	SIGVX	SSAGX	JGBZX	PFGAX	RGVEX
PGOVX		0.73	0.53	0.5	0.94	0.99	0.91	PGOVX
PYUSX	0.73		0.92	0.92	0.89	0.82	0.94	PYUSX
SIGVX	0.53	0.92		0.99	0.74	0.66	0.78	SIGVX
SSAGX	0.5	0.92	0.99		0.72	0.63	0.77	SSAGX
JGBZX	0.94	0.89	0.74	0.72		0.97	0.97	JGBZX
PFGAX	0.99	0.82	0.66	0.63	0.97		0.95	PFGAX
RGVEX	0.91	0.94	0.78	0.77	0.97	0.95		RGVEX
	PGOVX	PYUSX	SIGVX	SSAGX	JGBZX	PFGAX	RGVEX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PGOVX	0.42	0.00	(0.02)	0.00	0.40	(0.48)	0.95	(0.77)	2.41
PYUSX	0.09	0.01	(0.39)	(1.84)	0.00	(0.16)	0.21	(0.11)	0.53
SIGVX	0.06	0.01	(0.48)	(0.94)	0.00	(0.16)	0.10	(0.10)	0.51
SSAGX	0.05	0.01	0.00	(1.26)	0.00	0.00	0.10	(0.10)	0.51
JGBZX	0.16	0.02	(0.20)	(2.55)	0.03	(0.20)	0.31	(0.31)	1.02
PFGAX	0.41	0.07	0.01	(49.98)	0.34	(0.46)	0.96	(0.77)	2.42
RGVEX	0.16	0.02	(0.23)	(2.09)	0.00	(0.19)	0.33	(0.25)	0.91

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Voya Index Correlations

Voya Index Correlation With Market

Very poor diversification

Moving together with Voya Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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