Miller Income Correlations

Mutual Funds . USA . 
Fund . Miller Income Fund
LMCLX Fund  USD 9.64  0.04  0.42%   
The current 90-days correlation between Miller Income and Miller Opportunity Trust is 0.71 (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 board of governors.

Moving together with Miller Mutual Fund

  0.79LGOAX Miller Opportunity TrustPairCorr
  1.0LMCKX Miller IncomePairCorr
  1.0LMCJX Miller IncomePairCorr
  1.0LMCMX Miller IncomePairCorr
  0.82LMOFX Miller Opportunity TrustPairCorr
  0.82LMOPX Miller Opportunity TrustPairCorr
  0.82LMORX Miller Opportunity TrustPairCorr
  0.83LMNOX Miller Opportunity TrustPairCorr
  0.83MVISX Miller Opportunity TrustPairCorr
  1.0LCMNX Miller IncomePairCorr
  0.87IFACX Income FundPairCorr
  0.87IFAFX Income FundPairCorr
  0.85AMECX Income FundPairCorr
  0.9FFIFX American FundsPairCorr
  0.9FAIFX American FundsPairCorr
  0.9RIDBX Income FundPairCorr
  0.9CIMEX Income FundPairCorr
  0.87RIDFX Income FundPairCorr
  0.9CIMCX Income FundPairCorr
  0.87CIMFX Income FundPairCorr
  0.89FSMMX Fs Multi StrategyPairCorr
  0.85BTMPX Ishares Msci EafePairCorr
  0.88BTMKX Blackrock InternationalPairCorr
  0.88MDIIX Blackrock Intern IndexPairCorr
  0.7SPMPX Invesco Steelpath Mlp Steady GrowthPairCorr
  0.7MLPNX Oppenheimer Steelpath Mlp Steady GrowthPairCorr
  0.69MLPMX Oppenheimer Steelpath MlpPairCorr
  0.69SPMJX Invesco Steelpath Mlp Steady GrowthPairCorr
  0.79PAWAX T Rowe PricePairCorr
  0.83FELIX Fidelity Advisor SemPairCorr
  0.9LEPKX Blackrock Lifepath EsgPairCorr
  0.85RCLAX Conservative StrategyPairCorr
  0.81MSDMX Morgan Stanley InstiPairCorr
  0.81TCNBX Ambrus Tax ConsciousPairCorr
  0.75JLCFX Fundamental Large CapPairCorr
  0.71WTIBX Westcore Plus BondPairCorr
  0.92SIGVX Ridgeworth Seix GovePairCorr
  0.85DALVX Dunham Large CapPairCorr
  0.89SSMLX State Street SmallmidPairCorr

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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