Miller Income Correlations

LMCLX Fund

USD 8.93 0.09 1.02%

The current 90-days correlation between Miller Income and Miller Opportunity Trust is 0.81 (i.e., Very 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

Poor diversification

The correlation between Miller Income Fund and DJI is 0.76 (i.e., Poor 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 bureau of economic analysis.

Moving together with Miller Mutual Fund

0.98	LGOAX	Miller Opportunity Trust	Pair Corr
1.0	LMCKX	Miller Income	Pair Corr
1.0	LMCJX	Miller Income	Pair Corr
1.0	LMCMX	Miller Income	Pair Corr
0.98	LMOFX	Miller Opportunity Trust	Pair Corr
0.98	LMOPX	Miller Opportunity Trust Steady Growth	Pair Corr
0.98	LMORX	Miller Opportunity Trust Steady Growth	Pair Corr
0.98	LMNOX	Miller Opportunity Trust	Pair Corr
0.98	MVISX	Miller Opportunity Trust Steady Growth	Pair Corr
1.0	LCMNX	Miller Income	Pair Corr
0.73	COGVX	Cognios Large Cap	Pair Corr
0.95	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.95	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.94	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.94	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.9	DTGRX	Dreyfus Technology Growth	Pair Corr
0.94	ESGIX	Dana Epiphany Esg	Pair Corr
0.61	DBLIX	Doubleline Income	Pair Corr
0.98	VEXAX	Vanguard Extended Market	Pair Corr
0.94	CADVX	Calamos Dividend Growth	Pair Corr
0.83	CULAX	Calvert Ultra Short	Pair Corr
0.84	GGGAX	Gamco Global Growth	Pair Corr

Moving against Miller Mutual Fund

0.68	BTMPX	Ishares Msci Eafe Potential Growth	Pair Corr
0.68	MDIIX	Blackrock Intern Index	Pair Corr
0.67	BTMKX	Blackrock International	Pair Corr
0.4	FMFFX	Fs Managed Futures	Pair Corr

Related Correlations Analysis

	LGOAX	LMCKX	LMCLX	LMOFX	LMOPX	LMORX	LMNOX	MVISX
LGOAX		0.98	0.98	1.0	1.0	1.0	1.0	1.0	LGOAX
LMCKX	0.98		1.0	0.98	0.98	0.98	0.98	0.98	LMCKX
LMCLX	0.98	1.0		0.98	0.98	0.98	0.98	0.98	LMCLX
LMOFX	1.0	0.98	0.98		1.0	1.0	1.0	1.0	LMOFX
LMOPX	1.0	0.98	0.98	1.0		1.0	1.0	1.0	LMOPX
LMORX	1.0	0.98	0.98	1.0	1.0		1.0	1.0	LMORX
LMNOX	1.0	0.98	0.98	1.0	1.0	1.0		1.0	LMNOX
MVISX	1.0	0.98	0.98	1.0	1.0	1.0	1.0		MVISX
	LGOAX	LMCKX	LMCLX	LMOFX	LMOPX	LMORX	LMNOX	MVISX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LGOAX	0.88	0.11	0.09	0.12	1.16	(0.88)	2.05	(1.66)	7.85
LMCKX	0.84	0.09	0.10	0.11	0.80	(1.12)	2.07	(1.21)	9.20
LMCLX	0.84	0.09	0.11	0.11	0.78	(1.12)	2.08	(1.18)	9.12
LMOFX	0.88	0.11	0.09	0.12	1.16	(0.89)	2.01	(1.66)	7.88
LMOPX	0.88	0.10	0.09	0.12	1.18	(0.88)	2.01	(1.68)	7.88
LMORX	0.88	0.11	0.09	0.12	1.18	(0.88)	2.02	(1.66)	7.85
LMNOX	0.88	0.11	0.09	0.12	1.18	(0.89)	2.04	(1.65)	7.86
MVISX	0.88	0.11	0.09	0.12	1.16	(0.89)	2.01	(1.67)	7.89

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