Voya Large Correlations

IGOWX Fund  USD 58.46  0.62  1.07%   
The current 90-days correlation between Voya Large Cap and Voya Bond Index is 0.13 (i.e., Average diversification). The correlation of Voya Large 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 Large Correlation With Market

Very weak diversification

The correlation between Voya Large Cap Growth and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Large Cap Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Voya Large Cap Growth. 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 housing.

Moving together with Voya Mutual Fund

  0.96IMOPX Voya Midcap OpportunitiesPairCorr
  0.75IMORX Voya Midcap OpportunitiesPairCorr
  0.85IMOWX Voya Midcap OpportunitiesPairCorr
  0.86IMOZX Voya Midcap OpportunitiesPairCorr
  0.98INGIX Voya Stock IndexPairCorr
  0.82VPISX Voya Index SolutionPairCorr
  0.94VPRAX Voya T RowePairCorr
  0.82VPSSX Voya Index SolutionPairCorr
  0.85VPRSX Voya Jpmorgan SmallPairCorr
  0.82VPSAX Voya Index SolutionPairCorr
  0.82IPEAX Voya Large CapPairCorr
  0.83IPEIX Voya Large CapPairCorr
  0.82IPESX Voya Large CapPairCorr
  0.82IPETX Voya Large CapPairCorr
  0.8IPIMX Voya High YieldPairCorr

Moving against Voya Mutual Fund

  0.66INGBX Voya Global BondPairCorr
  0.63INTIX Voya International IndexPairCorr
  0.51ILBAX Voya Bond IndexPairCorr
  0.5ILUAX Voya Bond IndexPairCorr
  0.43ILABX Voya Bond IndexPairCorr
  0.37IMBAX Voya Limited MaturityPairCorr
  0.65IOSAX Voya Global BondPairCorr
  0.65IOSSX Voya Global BondPairCorr
  0.64IOSIX Voya Global BondPairCorr
  0.54NARCX Voya Multi ManagerPairCorr
  0.52NAPIX Voya Multi ManagerPairCorr
  0.5IOGPX Vy Oppenheimer GlobalPairCorr
  0.44IPIIX Ing Intermediate BondPairCorr
  0.44VREQX Voya Real EstatePairCorr
  0.35IPISX Voya Intermediate BondPairCorr

Related Correlations Analysis

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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   
ILUAXILBAX
ILBAXILABX
ILUAXILABX
ILMBXILBPX
IMBAXILBPX
IMBAXILMBX
  
High negative correlations   
IMOPXILBAX
IMOPXILUAX
IMOPXILABX
IMOPXIMBAX
IMOPXILMBX
IMORXILUAX

Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Large 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 Large'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  0.24 (0.07) 0.00 (2.09) 0.00 
 0.45 
 1.56 
ILBAX  0.24 (0.07) 0.00 (5.04) 0.00 
 0.44 
 1.55 
ILBPX  0.08 (0.02) 0.00 (9.06) 0.00 
 0.21 
 0.73 
ILMBX  0.08 (0.02) 0.00  2.75  0.00 
 0.21 
 0.62 
ILUAX  0.25 (0.07) 0.00 (2.92) 0.00 
 0.33 
 1.56 
IMBAX  0.08  0.00  0.00  0.00  0.00 
 0.21 
 0.64 
IMCDX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
IMCVX  0.73 (0.23) 0.00 (0.21) 0.00 
 1.07 
 13.13 
IMOPX  0.85  0.14  0.11  0.14  1.09 
 1.87 
 7.42 
IMORX  1.06 (0.06) 0.00 (0.02) 0.00 
 1.95 
 16.07