Miller Income Correlations

LMCKX Fund

USD 8.60 0.19 2.26%

The current 90-days correlation between Miller Income and Fidelity Government Money is 0.09 (i.e., Significant 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

Poor diversification

The correlation between Miller Income Fund and DJI is 0.75 (i.e., Poor 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 industry.

Moving together with Miller Mutual Fund

1.0	LMCJX	Miller Income	Pair Corr
1.0	LMCMX	Miller Income	Pair Corr
0.9	LMOFX	Miller Opportunity Trust	Pair Corr
0.91	LMOPX	Miller Opportunity Trust	Pair Corr
0.9	LMNOX	Miller Opportunity Trust	Pair Corr
1.0	LCMNX	Miller Income	Pair Corr
0.67	SMPIX	Semiconductor Ultrasector	Pair Corr
0.63	SMPSX	Semiconductor Ultrasector	Pair Corr
0.89	CISGX	Touchstone Sands Capital	Pair Corr

Moving against Miller Mutual Fund

0.41	TREMX	T Rowe Price	Pair Corr
0.66	GF	New Germany Closed	Pair Corr
0.6	PSDNX	Putnam Ultra Short	Pair Corr
0.57	USGDX	Morgan Stanley Government	Pair Corr
0.55	BISMX	Brandes International	Pair Corr
0.53	ABNOX	Ab Bond Inflation	Pair Corr
0.52	HRBDX	Harbor Bond Fund	Pair Corr
0.51	ARBOX	Absolute Convertible	Pair Corr
0.48	EMBAX	Unconstrained Emerging	Pair Corr
0.47	VICSX	Vanguard Intermediate-ter	Pair Corr
0.43	GIOIX	Guggenheim Macro Opp	Pair Corr
0.41	DLDFX	Destinations Low Duration	Pair Corr
0.39	SAEMX	Sa Emerging Markets	Pair Corr
0.35	RMDUX	American Funds Multi	Pair Corr

Related Correlations Analysis

	SPAXX	FMFXX	AEYXX	IAAEX	JRSXX	FNPIX
SPAXX		0.0	0.0	-0.11	0.0	0.35	SPAXX
FMFXX	0.0		0.0	0.0	0.0	0.0	FMFXX
AEYXX	0.0	0.0		0.0	0.0	0.0	AEYXX
IAAEX	-0.11	0.0	0.0		0.0	0.28	IAAEX
JRSXX	0.0	0.0	0.0	0.0		0.0	JRSXX
FNPIX	0.35	0.0	0.0	0.28	0.0		FNPIX
	SPAXX	FMFXX	AEYXX	IAAEX	JRSXX	FNPIX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FNPIX	+ 0.35	SPAXX
FNPIX	+ 0.28	IAAEX
FMFXX	+ 0.0	SPAXX
AEYXX	+ 0.0	SPAXX
JRSXX	+ 0.0	SPAXX
AEYXX	+ 0.0	FMFXX

High negative correlations

IAAEX	- 0.11	SPAXX
FNPIX	- 0.0	JRSXX
JRSXX	- 0.0	IAAEX
FNPIX	- 0.0	AEYXX
JRSXX	- 0.0	AEYXX
IAAEX	- 0.0	AEYXX

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SPAXX	0.03	0.01	0.62	0.00	0.00	1.01
FMFXX	0.00	0.00	0.00	0.00	0.00	0.00
AEYXX	0.00	0.00	0.00	0.00	0.00	0.00
IAAEX	0.80	(0.12)	(0.32)	1.41	(1.48)	9.17
JRSXX	0.00	0.00	0.00	0.00	0.00	0.00
FNPIX	1.23	0.06	(0.02)	2.08	(3.48)	9.08

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC