Voya Small Correlations

Mutual Funds . USA . 
Fund . Voya Small Pany
VSPRX Fund  USD 14.27  0.08  0.56%   
The current 90-days correlation between Voya Small Pany and Voya Bond Index is 0.13 (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

Very poor diversification

The correlation between Voya Small Pany and DJI is 0.86 (i.e., Very poor 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 real.

Moving together with Voya Mutual Fund

  0.71ILABX Voya Bond IndexPairCorr
  0.72ILBAX Voya Bond IndexPairCorr
  0.76ILBPX Voya Limited MaturityPairCorr
  0.77ILMBX Voya Limited MaturityPairCorr
  0.7ILUAX Voya Bond IndexPairCorr
  0.76IMBAX Voya Limited MaturityPairCorr
  0.94IMCVX Voya Multi ManagerPairCorr
  0.82IMOPX Voya Midcap OpportunitiesPairCorr
  0.82IMORX Voya Midcap OpportunitiesPairCorr
  0.82IMOWX Voya Midcap OpportunitiesPairCorr
  0.82IMOZX Voya Midcap OpportunitiesPairCorr
  0.87IMYCX Voya High YieldPairCorr
  0.89INGIX Voya Stock IndexPairCorr
  0.92VPISX Voya Index SolutionPairCorr
  0.84INTIX Voya International IndexPairCorr
  0.85VPRAX Voya T RowePairCorr
  0.97VPRSX Voya Jpmorgan SmallPairCorr
  0.92VPSAX Voya Index SolutionPairCorr
  0.89IOGPX Vy Oppenheimer GlobalPairCorr
  0.87NAPIX Voya Multi ManagerPairCorr
  0.87NARCX Voya Multi ManagerPairCorr
  0.89NAWCX Voya Global EquityPairCorr
  0.9NAWGX Voya Global EquityPairCorr
  0.9NAWIX Voya Global EquityPairCorr
  0.95IPARX Voya Global PerspectivesPairCorr
  0.88IPEAX Voya Large CapPairCorr
  0.89IPEIX Voya Large CapPairCorr
  0.88IPESX Voya Large CapPairCorr
  0.88IPETX Voya Large CapPairCorr
  0.74IPIIX Ing Intermediate BondPairCorr
  0.85IPIMX Voya High YieldPairCorr
  0.73IPISX Voya Intermediate BondPairCorr
  0.86IPHYX Voya High YieldPairCorr
  0.91IPLIX Voya Index PlusPairCorr
  0.96IPMSX Voya Index PlusPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ILABX  0.22  0.03 (0.29) 0.61  0.05 
(0.29)
 0.56 
(0.33)
 1.12 
ILBAX  0.21  0.03 (0.28) 0.86  0.05 
(0.28)
 0.44 
(0.33)
 1.12 
ILBPX  0.09  0.02 (0.76)(2.24) 0.00 
(0.19)
 0.32 
(0.11)
 0.64 
ILMBX  0.10  0.02 (0.80) 2.69  0.00 
(0.17)
 0.31 
(0.10)
 0.63 
ILUAX  0.21  0.03 (0.32) 0.59  0.00 
(0.28)
 0.45 
(0.33)
 1.24 
IMBAX  0.09  0.02 (0.78) 4.74  0.00 
(0.18)
 0.32 
(0.11)
 0.65 
IMCVX  0.55 (0.02)(0.05) 0.09  0.52 
(0.65)
 1.47 
(1.03)
 3.13 
IMOPX  0.76 (0.01)(0.01) 0.11  0.68 
(0.92)
 1.57 
(1.25)
 3.54 
IMORX  0.75 (0.01)(0.02) 0.10  0.67 
(0.88)
 1.53 
(1.17)
 3.53 
IMOWX  0.76  0.00 (0.02) 0.11  0.66 
(0.89)
 1.47 
(1.14)
 3.56 

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