Miller Income Correlations

LMCJX Fund

USD 9.56 0.10 1.06%

The current 90-days correlation between Miller Income and Miller Opportunity Trust is 0.66 (i.e., Poor 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

Almost no diversification

The correlation between Miller Income Fund and DJI is 0.94 (i.e., Almost no 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 bureau of economic analysis.

Moving together with Miller Mutual Fund

0.91	LGOAX	Miller Opportunity Trust	Pair Corr
1.0	LMCKX	Miller Income	Pair Corr
1.0	LMCLX	Miller Income	Pair Corr
1.0	LMCMX	Miller Income	Pair Corr
0.93	LMOFX	Miller Opportunity Trust	Pair Corr
0.93	LMOPX	Miller Opportunity Trust	Pair Corr
0.93	LMORX	Miller Opportunity Trust	Pair Corr
0.93	LMNOX	Miller Opportunity Trust	Pair Corr
0.93	MVISX	Miller Opportunity Trust	Pair Corr
1.0	LCMNX	Miller Income	Pair Corr
0.87	IFAFX	Income Fund	Pair Corr
0.88	AMECX	Income Fund	Pair Corr
0.9	IFACX	Income Fund	Pair Corr
0.9	FFIFX	American Funds	Pair Corr
0.9	FAIFX	American Funds	Pair Corr
0.9	RIDBX	Income Fund	Pair Corr
0.9	CIMEX	Income Fund	Pair Corr
0.9	RIDFX	Income Fund	Pair Corr
0.9	CIMCX	Income Fund	Pair Corr
0.9	CIMFX	Income Fund	Pair Corr
0.91	EKWDX	Wells Fargo Advantage	Pair Corr
0.8	PMPIX	Precious Metals Ultr	Pair Corr
0.8	PMPSX	Precious Metals Ultr	Pair Corr
0.78	VTAIX	Virtus Tactical Allo	Pair Corr
0.89	TGIPX	T Rowe Price	Pair Corr
0.83	DNLDX	Dreyfus Active Midcap	Pair Corr
0.81	VFIJX	Vanguard Gnma	Pair Corr
0.89	ATPAX	Aquila Three Peaks	Pair Corr
0.91	FHYSX	Federated High Yield	Pair Corr
0.78	VTRHX	Voya Target Retirement	Pair Corr
0.86	ANVLX	American Century Non	Pair Corr
0.92	GIMDX	Goldman Sachs Local	Pair Corr
0.83	LSEIX	Persimmon Long/short	Pair Corr
0.9	JACSX	Jpmorgan Smartretirement	Pair Corr
0.8	FSHYX	Nuveen Short Term	Pair Corr
0.85	CIISX	Causeway International	Pair Corr
0.91	DRILX	Dimensional 2060 Target	Pair Corr

Related Correlations Analysis

	LGOAX	LMCKX	LMCLX	LMCJX	LMCMX	LMOFX	LMOPX	LMORX	LMNOX	MVISX
LGOAX		0.91	0.91	0.91	0.91	0.96	0.95	0.96	0.96	0.96	LGOAX
LMCKX	0.91		1.0	1.0	1.0	0.93	0.93	0.93	0.93	0.93	LMCKX
LMCLX	0.91	1.0		1.0	1.0	0.93	0.93	0.93	0.93	0.93	LMCLX
LMCJX	0.91	1.0	1.0		1.0	0.93	0.93	0.93	0.93	0.93	LMCJX
LMCMX	0.91	1.0	1.0	1.0		0.94	0.93	0.93	0.94	0.94	LMCMX
LMOFX	0.96	0.93	0.93	0.93	0.94		1.0	1.0	1.0	1.0	LMOFX
LMOPX	0.95	0.93	0.93	0.93	0.93	1.0		1.0	1.0	1.0	LMOPX
LMORX	0.96	0.93	0.93	0.93	0.93	1.0	1.0		1.0	1.0	LMORX
LMNOX	0.96	0.93	0.93	0.93	0.94	1.0	1.0	1.0		1.0	LMNOX
MVISX	0.96	0.93	0.93	0.93	0.94	1.0	1.0	1.0	1.0		MVISX
	LGOAX	LMCKX	LMCLX	LMCJX	LMCMX	LMOFX	LMOPX	LMORX	LMNOX	MVISX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LGOAX	1.03	0.08	0.02	0.93	1.16	(1.06)	1.85	(2.09)	5.06
LMCKX	0.62	0.10	0.10	0.17	0.59	(0.71)	1.55	(1.26)	4.45
LMCLX	0.62	0.10	0.10	0.18	0.61	(0.73)	1.45	(1.27)	4.47
LMCJX	0.63	0.10	0.11	0.17	0.59	(0.74)	1.52	(1.26)	4.45
LMCMX	0.62	0.10	0.10	0.17	0.60	(0.74)	1.53	(1.27)	4.61
LMOFX	1.02	0.03	0.03	0.08	1.11	(1.08)	1.87	(2.10)	5.10
LMOPX	1.01	0.02	0.03	0.07	1.12	(1.08)	1.85	(2.11)	5.07
LMORX	1.01	0.03	0.03	0.08	1.11	(1.08)	1.87	(2.10)	5.12
LMNOX	1.02	0.03	0.03	0.08	1.11	(1.08)	1.87	(2.09)	5.11
MVISX	1.03	0.03	0.03	0.07	1.14	(1.06)	1.87	(2.11)	5.10

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Miller Income Correlations

Miller Income Correlation With Market

Almost no diversification

Moving together with Miller Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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