Miller Intermediate Correlations

MIFAX Fund

USD 26.48 0.09 0.34%

The current 90-days correlation between Miller Intermediate Bond and Nexpoint Real Estate is 0.27 (i.e., Modest diversification). The correlation of Miller Intermediate 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 Intermediate Correlation With Market

Very weak diversification

The correlation between Miller Intermediate Bond and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Miller Intermediate Bond 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 Intermediate Bond. 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 nation.

Moving together with Miller Mutual Fund

0.63	MCFCX	Miller Vertible Bond	Pair Corr
0.68	MCFAX	Miller Vertible Bond	Pair Corr
0.65	MCIFX	Miller Vertible Bond	Pair Corr
0.8	VICSX	Vanguard Intermediate-ter	Pair Corr
0.77	VFICX	Vanguard Intermediate-ter	Pair Corr
0.79	VFIDX	Vanguard Intermediate-ter	Pair Corr
0.8	VICBX	Vanguard Intermediate	Pair Corr
0.79	PBDPX	Pimco Investment Grade	Pair Corr
0.78	PIGIX	Investment Grade Porate	Pair Corr
0.79	PGCAX	Investment Grade Porate	Pair Corr
0.77	PBDAX	Investment Grade Porate	Pair Corr
0.81	PBDCX	Investment Grade Porate	Pair Corr
0.79	PCNNX	Pimco Investment Grade	Pair Corr

Moving against Miller Mutual Fund

0.6	DHEAX	Diamond Hill Short	Pair Corr
0.52	UGSDX	Us Government Securities	Pair Corr
0.45	WSHNX	Short Duration Income	Pair Corr
0.65	SAFEX	Weitz Ultra Short	Pair Corr
0.48	STBYX	Invesco Short Term	Pair Corr

Related Correlations Analysis

	NRSCX	HLPPX	BREUX	TIREX
NRSCX		0.06	0.1	0.04	NRSCX
HLPPX	0.06		0.87	0.93	HLPPX
BREUX	0.1	0.87		0.83	BREUX
TIREX	0.04	0.93	0.83		TIREX
	NRSCX	HLPPX	BREUX	TIREX

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Risk-Adjusted Indicators

There is a big difference between Miller Mutual Fund performing well and Miller Intermediate 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 Intermediate'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
NRSCX	0.24	(0.05)	(0.63)	0.43	(0.43)	3.06
HLPPX	0.78	(0.13)	(0.31)	1.28	(1.72)	5.36
BREUX	0.91	(0.02)	(0.13)	1.64	(1.83)	7.09
TIREX	0.85	(0.11)	(0.27)	1.44	(1.92)	5.42

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