Miller Income Correlations

Mutual Funds . USA . 
Fund . Miller Income Fund
LMCKX Fund  USD 9.53  0.01  0.11%   
The current 90-days correlation between Miller Income and Ab Small Cap is 0.76 (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 0.95 (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 industry.

Moving together with Miller Mutual Fund

  0.85LGOAX Miller Opportunity TrustPairCorr
  1.0LMCLX Miller IncomePairCorr
  0.97LMCJX Miller IncomePairCorr
  1.0LMCMX Miller IncomePairCorr
  0.87LMOFX Miller Opportunity TrustPairCorr
  0.87LMOPX Miller Opportunity TrustPairCorr
  0.87LMORX Miller Opportunity TrustPairCorr
  0.88LMNOX Miller Opportunity TrustPairCorr
  0.88MVISX Miller Opportunity TrustPairCorr
  1.0LCMNX Miller IncomePairCorr
  0.87IFAFX Income FundPairCorr
  0.88AMECX Income FundPairCorr
  0.9IFACX Income FundPairCorr
  0.9FFIFX American FundsPairCorr
  0.9FAIFX American FundsPairCorr
  0.9RIDBX Income FundPairCorr
  0.9CIMEX Income FundPairCorr
  0.9RIDFX Income FundPairCorr
  0.9CIMCX Income FundPairCorr
  0.9CIMFX Income FundPairCorr
  0.87EKWDX Wells Fargo AdvantagePairCorr
  0.8PMPIX Precious Metals Ultr Steady GrowthPairCorr
  0.8PMPSX Precious Metals Ultr Steady GrowthPairCorr
  0.79VTAIX Virtus Tactical AlloPairCorr
  0.9TGIPX T Rowe PricePairCorr
  0.69WESJX William Blair EmergingPairCorr
  0.84DNLDX Dreyfus Active MidcapPairCorr
  0.82VFIJX Vanguard GnmaPairCorr
  0.88ATPAX Aquila Three PeaksPairCorr
  0.88FHYSX Federated High YieldPairCorr
  0.8VTRHX Voya Target RetirementPairCorr
  0.88ANVLX American Century NonPairCorr
  0.89GIMDX Goldman Sachs LocalPairCorr
  0.86LSEIX Persimmon Long/shortPairCorr
  0.91JACSX Jpmorgan SmartretirementPairCorr
  0.83FSHYX Nuveen Short TermPairCorr
  0.85CIISX Causeway InternationalPairCorr
  0.92DRILX Dimensional 2060 TargetPairCorr

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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