Miller Income Correlations

Mutual Funds . USA . 
Fund . Miller Income Fund
LMCMX Fund  USD 9.45  0.10  1.07%   
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 state.

Moving together with Miller Mutual Fund

  0.85LGOAX Miller Opportunity TrustPairCorr
  1.0LMCKX Miller IncomePairCorr
  1.0LMCLX Miller IncomePairCorr
  1.0LMCJX Miller IncomePairCorr
  0.85LMOFX Miller Opportunity TrustPairCorr
  0.84LMOPX Miller Opportunity TrustPairCorr
  0.84LMORX Miller Opportunity TrustPairCorr
  0.85LMNOX Miller Opportunity TrustPairCorr
  0.85MVISX Miller Opportunity TrustPairCorr
  1.0LCMNX Miller IncomePairCorr
  0.9IFACX Income FundPairCorr
  0.87IFAFX Income FundPairCorr
  0.9AMECX 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
  0.9FSMMX Fs Multi StrategyPairCorr
  0.88BTMPX Ishares Msci EafePairCorr
  0.88BTMKX Blackrock InternationalPairCorr
  0.88MDIIX Blackrock Intern IndexPairCorr
  0.69SPMPX Invesco Steelpath MlpPairCorr
  0.69MLPNX Oppenheimer Steelpath MlpPairCorr
  0.68MLPMX Oppenheimer Steelpath MlpPairCorr
  0.68SPMJX Invesco Steelpath MlpPairCorr
  0.83PAWAX T Rowe PricePairCorr
  0.81FELIX Fidelity Advisor SemPairCorr
  0.89LEPKX Blackrock Lifepath EsgPairCorr
  0.87RCLAX Conservative StrategyPairCorr
  0.8MSDMX Morgan Stanley InstiPairCorr
  0.81TCNBX Ambrus Tax ConsciousPairCorr
  0.77JLCFX Fundamental Large CapPairCorr
  0.7WTIBX Westcore Plus BondPairCorr
  0.92SIGVX Ridgeworth Seix GovePairCorr
  0.87DALVX 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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