Correlation Between Smallcap Growth and Voya High
Can any of the company-specific risk be diversified away by investing in both Smallcap Growth and Voya High at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Smallcap Growth and Voya High into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Smallcap Growth Fund and Voya High Yield, you can compare the effects of market volatilities on Smallcap Growth and Voya High and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Smallcap Growth with a short position of Voya High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Smallcap Growth and Voya High.
Diversification Opportunities for Smallcap Growth and Voya High
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Smallcap and Voya is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap Growth Fund and Voya High Yield in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Voya High Yield and Smallcap Growth is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Smallcap Growth Fund are associated (or correlated) with Voya High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Voya High Yield has no effect on the direction of Smallcap Growth i.e., Smallcap Growth and Voya High go up and down completely randomly.
Pair Corralation between Smallcap Growth and Voya High
Assuming the 90 days horizon Smallcap Growth Fund is expected to generate 7.2 times more return on investment than Voya High. However, Smallcap Growth is 7.2 times more volatile than Voya High Yield. It trades about 0.03 of its potential returns per unit of risk. Voya High Yield is currently generating about 0.13 per unit of risk. If you would invest 865.00 in Smallcap Growth Fund on September 9, 2025 and sell it today you would earn a total of 84.00 from holding Smallcap Growth Fund or generate 9.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Smallcap Growth Fund vs. Voya High Yield
Performance |
| Timeline |
| Smallcap Growth |
| Voya High Yield |
Smallcap Growth and Voya High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Smallcap Growth and Voya High
The main advantage of trading using opposite Smallcap Growth and Voya High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Smallcap Growth position performs unexpectedly, Voya High can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Voya High will offset losses from the drop in Voya High's long position.| Smallcap Growth vs. Siit Large Cap | Smallcap Growth vs. T Rowe Price | Smallcap Growth vs. Slow Capital Growth | Smallcap Growth vs. Locorr Strategic Allocation |
| Voya High vs. Tfa Alphagen Growth | Voya High vs. Auer Growth Fund | Voya High vs. T Rowe Price | Voya High vs. Smallcap Growth Fund |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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