Voyant comes packaged with default market assumptions from a third-party provider. This allows you to begin using the software immediately without sourcing your own assumptions.

However, if your firm would prefer to use its own market assumptions and asset classes, you can upload a custom set. This can be managed by your team directly or provided through a white-label arrangement.

To do this, you’ll need two files formatted correctly:

1. Investment Averages file – defines the asset classes, average return, and standard deviation for each asset class.

2. Correlation Coefficient file – defines the correlation coefficient matrix between each asset class.

📂 Both files must be in CSV format (.csv).
📂 Sample files for your region can be obtained by emailing support@planwithvoyant.com  or on the Custom Market Assumptions input screen. Configurations > Custom Market Assumptions 

1. Investment Averages File

This file defines each asset class and its return assumptions.

Key Formatting Rules

• Asset class names must be in UPPERCASE with underscores for spaces.

  • Example: LARGE_CAP_STOCKS → displayed in Voyant as Large Cap Stocks.

• Required asset class: CASH.

• Numbers must be in decimal format, up to 4 decimal places.

  • Example: 1.1% = 0.011 (do not use %).

• Maximum recommended asset classes: 15 (you may use more, but it can affect display).

⚠️ Tip – Asset class names: Avoid renaming asset classes after they’re in use. Changing names may cause errors in existing plans.

Example Layout (Test Data Only)

How Yield is Treated

• If true → yield is deducted from the mean to calculate capital appreciation.

  • Example: mean 7%, yield 4% → appreciation 3%, yield 4%, total return 7%.

• If false → yield is added to the mean to calculate total return.

  • Example: mean 7%, yield 4% → appreciation 7%, yield 4%, total return 11%.

2. Correlation Coefficient File

This file defines the correlation matrix between asset classes.

Key Formatting Rules

• Row and column labels must be UPPERCASE with underscores for spaces.

• Names must match exactly those in the Investment Averages file.

• Numbers must be in decimal format, up to 4 decimal places.

• CASH must be included.

• File must be in CSV format.

⚠️ Important: The correlation coefficient matrix must be positive definite. Random values usually won’t work.

How to Calculate Correlation Coefficients (Recommended Method)

1. Collect historical price data (as far back as possible) for each asset class in Excel.

2. Use Excel functions to calculate:

   • Average return

   • Standard deviation

3. Use the =CORREL() function in Excel to calculate the correlation between each pair of asset classes.

Example Layout (Test Data Only)

Final Checklist Before Sending/Uploading Files

✔ Both files saved in CSV format.
✔ Asset class names are consistent across both files.
✔ CASH is included.
✔ Decimal formatting (no % signs, max 4 decimals).
✔ Correlation matrix is positive definite.

Quick Reference: Custom Market Assumptions in Voyant

You need two CSV files:

1. Investment Averages file

2. Correlation Coefficient file

Investment Averages File

Must include:

• CASH (required asset class)

• Asset class names in UPPERCASE with underscores for spaces

  • Example: LARGE_CAP_STOCKS → Large Cap Stocks

• Mean return, standard deviation, and yield values in decimal format (max 4 decimals)

  • Example: 1.1% = 0.011

⚠️ Tip: Avoid renaming asset classes later — it may break existing plans.

Example Row (CSV format):

Correlation Coefficient File

Must include:

• Asset class names as both row labels and column headings

• Names match exactly those in the Investment Averages file

• Values in decimal format 

• CASH included

• Matrix must be positive definite

Recommended method: Use Excel’s =CORREL() function with historical prices.

Example (CSV format):

🚫 Common Mistakes to Avoid

• ❌ Using spaces in asset class names (Large Cap Stocks)

• ❌ Adding % signs (use 0.011, not 1.1%)

• ❌ Mismatched asset names between files

• ❌ Random correlation numbers (matrix must be positive definite)

• ❌ Forgetting to include CASH

• ❌ Asset class names longer than 23 characters

• ❌ Lowercase names (must be UPPERCASE)

• ❌ Hyphens or brackets in names (remove them)

• ❌ More than 4 decimal places in the Investment Averages File 

✅ If both files pass these checks → you’re ready to upload!