Miller Intermediate Correlations

Mutual Funds . USA . 
Fund . Miller Intermediate Bond
MIFIX Fund  USD 17.04  0.01  0.06%   
The current 90-days correlation between Miller Intermediate Bond and Barings Active Short is 0.3 (i.e., Weak 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

Almost no diversification

The correlation between Miller Intermediate Bond and DJI is 0.94 (i.e., Almost no 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 gross domestic product.

Moving together with Miller Mutual Fund

  0.96MMNIX Miller Market NeutralPairCorr
  0.96MCFCX Miller Vertible BondPairCorr
  0.94MCFAX Miller Vertible BondPairCorr
  0.96MCIFX Miller Vertible BondPairCorr
  0.94PONAX Pimco IncomePairCorr
  0.94PONCX Pimco IncomePairCorr
  0.94PIPNX Pimco IncomePairCorr
  0.94PONRX Pimco IncomePairCorr
  0.94PONPX Pimco Incme FundPairCorr
  0.94PIINX Pimco IncomePairCorr
  0.94PIMIX Pimco IncomePairCorr
  0.96LBNDX Lord Abbett BondPairCorr
  0.94FSTAX Fidelity Advisor StrPairCorr
  0.94FSRIX Fidelity Advisor StrPairCorr
  0.79VSTSX Vanguard Total StockPairCorr
  0.81VSMPX Vanguard Total StockPairCorr
  0.81VITSX Vanguard Total StockPairCorr
  0.76VFFSX Vanguard 500 IndexPairCorr
  0.78VFIAX Vanguard 500 IndexPairCorr
  0.79VTSAX Vanguard Total StockPairCorr
  0.96VTSNX Vanguard Total InterPairCorr
  0.94VTISX Vanguard Total InterPairCorr
  0.96VTPSX Vanguard Total InterPairCorr
  0.78VINIX Vanguard InstitutionalPairCorr
  0.92VMLTX Vanguard Limited TermPairCorr
  0.95CWIEX Capital World GrowthPairCorr
  0.92AMFFX American MutualPairCorr
  0.99FSLVX Fidelity Stock SelectorPairCorr
  0.76MLOAX Cohen Steers MlpPairCorr
  0.89GCEAX Ab Global EPairCorr
  0.92PSRCX Pioneer Strategic IncomePairCorr
  0.62EBSFX Eubel Brady SuttmanPairCorr
  0.92SSCKX State Street TargetPairCorr
  0.94RFFTX American Funds 2035PairCorr
  0.94PCEMX Pace InternationalPairCorr
  0.91BCEMX Boston Common EsgPairCorr

Related Correlations Analysis


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.

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