Miller Income Correlations

Mutual Funds . USA . 
Fund . Miller Income Fund
LMCMX Fund  USD 9.27  0.09  0.98%   
The current 90-days correlation between Miller Income and Columbia Convertible Securities is 0.57 (i.e., Very weak 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

Modest diversification

The correlation between Miller Income Fund and DJI is 0.24 (i.e., Modest 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

  0.83LGOAX Miller Opportunity TrustPairCorr
  1.0LMCKX Miller IncomePairCorr
  1.0LMCLX Miller IncomePairCorr
  1.0LMCJX Miller IncomePairCorr
  0.9LMOFX Miller Opportunity TrustPairCorr
  0.83LMOPX Miller Opportunity TrustPairCorr
  0.9LMORX Miller Opportunity TrustPairCorr
  0.9LMNOX Miller Opportunity TrustPairCorr
  0.83MVISX Miller Opportunity TrustPairCorr
  1.0LCMNX Miller IncomePairCorr
  0.76IFAFX Income FundPairCorr
  0.73AMECX Income FundPairCorr
  0.73IFACX Income FundPairCorr
  0.76RIDBX Income FundPairCorr
  0.76CIMEX Income FundPairCorr
  0.76RIDFX Income FundPairCorr
  0.72CIMCX Income FundPairCorr
  0.76CIMFX Income FundPairCorr
  0.76RSNRX Victory Global NaturalPairCorr
  0.75RSNYX Victory Global NaturalPairCorr
  0.75RGNCX Victory Global NaturalPairCorr
  0.73TWN Taiwan ClosedPairCorr
  0.65CUSDX Six Circles UltraPairCorr
  0.62HFARX Janus Henderson StrategicPairCorr
  0.65OLCAX Oppenheimer RochesterPairCorr
  0.79CBURX Columbia Income BuilderPairCorr
  0.74ASGI Aberdeen Standard GlobalPairCorr

Moving against Miller Mutual Fund

  0.54FFIFX American FundsPairCorr
  0.54FAIFX American FundsPairCorr

Related Correlations Analysis


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

XNCVX
+ 0.91
NCIDX
FSAWX
+ 0.81
VAADX
LCFYX
+ 0.74
NCIDX
XNCVX
+ 0.68
LCFYX
XNCVX
+ 0.31
VAADX
VAADX
+ 0.07
NCIDX
  

High negative correlations

FSAWX
- 0.31
LCFYX
FSAWX
- 0.23
NCIDX
XNCVX
- 0.03
FSAWX

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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