Miller Income Correlations

Mutual Funds USA . 
Fund . Miller Income Fund
LMCKX Fund  USD 9.31  0.21  2.31%   
The current 90-days correlation between Miller Income and Miller Opportunity Trust is 0.04 (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

  0.95LGOAX Miller Opportunity TrustPairCorr
  0.91LMCLX Miller IncomePairCorr
  0.97LMCJX Miller IncomePairCorr
  1.0LMCMX Miller IncomePairCorr
  0.97LMOFX Miller Opportunity TrustPairCorr
  0.97LMOPX Miller Opportunity TrustPairCorr
  0.97LMORX Miller Opportunity TrustPairCorr
  0.97LMNOX Miller Opportunity TrustPairCorr
  0.97MVISX Miller Opportunity TrustPairCorr
  0.97LCMNX Miller IncomePairCorr
  0.63FFIFX American FundsPairCorr
  0.63FAIFX American FundsPairCorr
  0.63IFACX Income FundPairCorr
  0.63IFAFX Income FundPairCorr
  0.63AMECX Income FundPairCorr
  0.62CIMEX Income FundPairCorr
  0.66RIDFX Income FundPairCorr
  0.66CIMFX Income FundPairCorr
  0.98KMKAX Kinetics Market Oppo Steady GrowthPairCorr
  0.97KNPAX Kinetics Paradigm Steady GrowthPairCorr
  0.72SMPSX Semiconductor UltrasectorPairCorr
  0.97LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.98LSHCX Horizon Spin Off Steady GrowthPairCorr
  0.98KNPYX Kinetics Paradigm Steady GrowthPairCorr
  0.98KMKCX Kinetics Market Oppo Steady GrowthPairCorr
  0.98KNPCX Kinetics Paradigm Steady GrowthPairCorr
  0.98WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.64PAHHX T Rowe PricePairCorr
  0.94VSMVX Vanguard Sp SmallPairCorr
  0.88VEIPX Vanguard Equity IncomePairCorr
  0.93VTSAX Vanguard Total StockPairCorr
  0.91WBCIX William Blair SmallPairCorr
  0.86FPURX Fidelity PuritanPairCorr
  0.7WAEXX Western Asset PremierPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
LGOAX  0.89  0.23  0.08 (3.35) 0.93 
(0.94)
 2.25 
(1.66)
 5.35 
LMCKX  0.91  0.11  0.18  0.21  0.45 
(1.26)
 2.31 
(1.21)
 6.57 
LMCLX  0.88  0.19  0.10  7.86  0.55 
(1.21)
 2.10 
(1.18)
 6.70 
LMCJX  0.87  0.21  0.12 (3.44) 0.52 
(1.20)
 2.07 
(1.18)
 6.68 
LMCMX  0.89  0.11  0.18  0.22  0.42 
(1.23)
 2.21 
(1.19)
 6.59 
LMOFX  0.90  0.08  0.09  0.18  0.91 
(0.94)
 2.23 
(1.66)
 5.32 
LMOPX  0.89  0.07  0.09  0.18  0.91 
(0.93)
 2.24 
(1.68)
 5.36 
LMORX  0.90  0.08  0.09  0.18  0.91 
(0.94)
 2.24 
(1.66)
 5.36 
LMNOX  0.90  0.08  0.09  0.18  0.90 
(0.94)
 2.23 
(1.65)
 5.32 
MVISX  0.90  0.08  0.09  0.18  0.89 
(0.94)
 2.25 
(1.67)
 5.36 

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