Miller Income Correlations

Mutual Funds . USA . 
Fund . Miller Income Fund
LCMNX Fund  USD 9.12  0.06  0.66%   
The current 90-days correlation between Miller Income and Prudential High Yield is -0.04 (i.e., Good diversification). The correlation of Miller Income 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.

Miller Income Correlation With Market

Modest diversification

The correlation between Miller Income Fund and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Miller Income Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Miller Income Fund. 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 board of governors.

Moving together with Miller Mutual Fund

  0.86LGOAX Miller Opportunity TrustPairCorr
  1.0LMCKX Miller IncomePairCorr
  1.0LMCLX Miller IncomePairCorr
  1.0LMCJX Miller IncomePairCorr
  1.0LMCMX Miller IncomePairCorr
  0.87LMOFX Miller Opportunity TrustPairCorr
  0.83LMOPX Miller Opportunity TrustPairCorr
  0.83LMORX Miller Opportunity TrustPairCorr
  0.86LMNOX Miller Opportunity TrustPairCorr
  0.86MVISX Miller Opportunity TrustPairCorr
  0.65FFIFX American FundsPairCorr
  0.64PCF Putnam High IncomePairCorr
  0.74ADX Adams Diversified EquityPairCorr
  0.93SJCRX Steward Large CapPairCorr
  0.84HCVFX The Hartford ServativePairCorr
  0.73PONRX Pimco IncomePairCorr
  0.88QUACX Ab Small CapPairCorr
  0.73DAHYX Dunham High YieldPairCorr
  0.86LMLRX Qs Defensive GrowthPairCorr
  0.83VBIAX Vanguard Balanced IndexPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Miller Mutual Fund performing well and Miller Income 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 Miller Income'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.

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