Miller Income Correlations

LMCLX Fund

USD 9.23 0.03 0.33%

The current 90-days correlation between Miller Income and Oppenheimer Global Allocation is -0.07 (i.e., Good 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

Very poor diversification

The correlation between Miller Income Fund and DJI is 0.81 (i.e., Very 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 board of governors.

Moving together with Miller Mutual Fund

0.85	IFAFX	Income Fund	Pair Corr
0.82	AMECX	Income Fund	Pair Corr
0.88	IFACX	Income Fund	Pair Corr
0.88	FFIFX	American Funds	Pair Corr
0.88	FAIFX	American Funds	Pair Corr
0.88	RIDBX	Income Fund	Pair Corr
0.88	CIMEX	Income Fund	Pair Corr
0.88	RIDFX	Income Fund	Pair Corr
0.88	CIMCX	Income Fund	Pair Corr
0.88	CIMFX	Income Fund	Pair Corr
0.62	PMPIX	Precious Metals Ultr	Pair Corr
0.62	PMPSX	Precious Metals Ultr	Pair Corr
0.76	BA	Boeing	Pair Corr
0.76	WMT	Walmart Common Stock	Pair Corr
0.76	AA	Alcoa Corp	Pair Corr

Moving against Miller Mutual Fund

0.37	VZ	Verizon Communications Earnings Call Today	Pair Corr
0.35	HPQ	HP Inc	Pair Corr
0.32	MSFT	Microsoft	Pair Corr
0.31	MMM	3M Company	Pair Corr

Related Correlations Analysis

	TACLX	WMFFX	MAIJX	RCLIX	FMTIX	QGRIX
TACLX		0.92	0.91	0.94	0.85	0.89	TACLX
WMFFX	0.92		0.95	0.92	0.88	0.99	WMFFX
MAIJX	0.91	0.95		0.92	0.91	0.97	MAIJX
RCLIX	0.94	0.92	0.92		0.79	0.91	RCLIX
FMTIX	0.85	0.88	0.91	0.79		0.9	FMTIX
QGRIX	0.89	0.99	0.97	0.91	0.9		QGRIX
	TACLX	WMFFX	MAIJX	RCLIX	FMTIX	QGRIX

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
TACLX	0.56	0.10	0.07	0.90	0.60	(0.62)	1.21	(1.08)	5.12
WMFFX	0.60	0.08	0.09	0.15	0.55	(0.72)	0.98	(1.10)	7.26
MAIJX	0.74	0.35	0.45	0.93	0.00	(0.93)	1.56	(1.04)	13.36
RCLIX	0.71	0.22	0.28	0.29	0.30	(0.83)	1.25	(0.98)	10.42
FMTIX	0.40	0.09	0.08	3.58	0.34	(0.44)	0.78	(0.75)	4.34
QGRIX	0.47	0.13	0.18	0.28	0.20	(0.56)	0.84	(0.84)	8.28

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