Miller Vertible Bond Fund Market Value
| MCIFX Fund | USD 13.08 0.01 0.08% |
| Symbol | Miller |
Miller Convertible 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Miller Convertible's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Miller Convertible.
| 09/04/2023 |
| 11/27/2024 |
If you would invest 0.00 in Miller Convertible on September 4, 2023 and sell it all today you would earn a total of 0.00 from holding Miller Vertible Bond or generate 0.0% return on investment in Miller Convertible over 450 days. Miller Convertible is related to or competes with Franklin Natural, Gmo Resources, Calvert Global, Fidelity Advisor, Oil Gas, Hennessy, and Dreyfus Natural. The fund invests at least 80 percent of its assets in convertible bonds More
Miller Convertible Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Miller Convertible's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Miller Vertible Bond upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3537 | |||
| Information Ratio | (0.32) | |||
| Maximum Drawdown | 1.62 | |||
| Value At Risk | (0.55) | |||
| Potential Upside | 0.6221 |
Miller Convertible Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Miller Convertible's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Miller Convertible's standard deviation. In reality, there are many statistical measures that can use Miller Convertible historical prices to predict the future Miller Convertible's volatility.| Risk Adjusted Performance | 0.0361 | |||
| Jensen Alpha | 0.0085 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.31) | |||
| Treynor Ratio | 0.4523 |
Miller Vertible Bond Backtested Returns
At this stage we consider Miller Mutual Fund to be very steady. Miller Vertible Bond has Sharpe Ratio of 0.0801, which conveys that the entity had a 0.0801% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Miller Convertible, which you can use to evaluate the volatility of the fund. Please verify Miller Convertible's Mean Deviation of 0.2494, risk adjusted performance of 0.0361, and Downside Deviation of 0.3537 to check out if the risk estimate we provide is consistent with the expected return of 0.0275%. The fund secures a Beta (Market Risk) of 0.0256, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Miller Convertible's returns are expected to increase less than the market. However, during the bear market, the loss of holding Miller Convertible is expected to be smaller as well.
Auto-correlation | 0.84 |
Very good predictability
Miller Vertible Bond has very good predictability. Overlapping area represents the amount of predictability between Miller Convertible time series from 4th of September 2023 to 16th of April 2024 and 16th of April 2024 to 27th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Miller Vertible Bond price movement. The serial correlation of 0.84 indicates that around 84.0% of current Miller Convertible price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.84 | |
| Spearman Rank Test | 0.83 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Miller Vertible Bond lagged returns against current returns
Autocorrelation, which is Miller Convertible mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Miller Convertible's mutual fund expected returns. We can calculate the autocorrelation of Miller Convertible returns to help us make a trade decision. For example, suppose you find that Miller Convertible has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Miller Convertible regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Miller Convertible mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Miller Convertible mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Miller Convertible mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Miller Convertible Lagged Returns
When evaluating Miller Convertible's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Miller Convertible mutual fund have on its future price. Miller Convertible autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Miller Convertible autocorrelation shows the relationship between Miller Convertible mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Miller Vertible Bond.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Miller Mutual Fund
Miller Convertible financial ratios help investors to determine whether Miller Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Miller with respect to the benefits of owning Miller Convertible security.
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