Miller Income Correlations

Mutual Funds . USA . 
Fund . Miller Income Fund
LMCJX Fund  USD 9.59  0.12  1.24%   
The current 90-days correlation between Miller Income and Miller Opportunity Trust is 0.74 (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 0.91 (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

  1.0LMCKX Miller IncomePairCorr
  1.0LMCLX Miller IncomePairCorr
  1.0LMCMX Miller IncomePairCorr
  1.0LCMNX Miller IncomePairCorr
  0.89IFAFX Income FundPairCorr
  0.89AMECX Income FundPairCorr
  0.89IFACX Income FundPairCorr
  0.91FFIFX American FundsPairCorr
  0.91FAIFX American FundsPairCorr
  0.91RIDBX Income FundPairCorr
  0.91CIMEX Income FundPairCorr
  0.89RIDFX Income FundPairCorr
  0.91CIMCX Income FundPairCorr
  0.89CIMFX Income FundPairCorr
  0.87FSMMX Fs Multi StrategyPairCorr
  0.91BTMPX Ishares Msci EafePairCorr
  0.91BTMKX Blackrock InternationalPairCorr
  0.91MDIIX Blackrock Intern IndexPairCorr
  0.78SPMPX Invesco Steelpath MlpPairCorr
  0.78MLPNX Oppenheimer Steelpath MlpPairCorr
  0.78MLPMX Oppenheimer Steelpath MlpPairCorr
  0.78SPMJX Invesco Steelpath MlpPairCorr
  0.79DAIOX Dunham InternationalPairCorr
  0.9JUSMX Jpmorgan Small PanyPairCorr
  0.85UJPIX Ultrajapan Profund Steady GrowthPairCorr
  0.86RLGCX Riverfront Dynamic EquityPairCorr
  0.85AEDMX Emerging MarketsPairCorr
  0.85CDWCX American Funds DevelopingPairCorr
  0.73LIGRX Loomis Sayles InvestmentPairCorr
  0.76FSTZX Fidelity Series 0PairCorr
  0.89MBAPX Praxis Genesis BalancedPairCorr
  0.92CRFIX Calvert FundPairCorr
  0.92AATIX Ancora/thelen Small-midPairCorr

Related Correlations Analysis


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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