Miller Opportunity Correlations

LMOFX Fund

USD 39.69 0.58 1.48%

The current 90-days correlation between Miller Opportunity Trust and Short Real Estate is -0.26 (i.e., Very good diversification). The correlation of Miller Opportunity 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 Opportunity Correlation With Market

Very poor diversification

The correlation between Miller Opportunity Trust and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Miller Opportunity Trust 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 Opportunity Trust. 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 census.

Moving together with Miller Mutual Fund

1.0	LGOAX	Miller Opportunity Trust	Pair Corr
0.98	LMCKX	Miller Income	Pair Corr
0.98	LMCLX	Miller Income	Pair Corr
0.98	LMCJX	Miller Income	Pair Corr
0.98	LMCMX	Miller Income	Pair Corr
1.0	LMOPX	Miller Opportunity Trust	Pair Corr
1.0	LMORX	Miller Opportunity Trust	Pair Corr
1.0	LMNOX	Miller Opportunity Trust	Pair Corr
1.0	MVISX	Miller Opportunity Trust	Pair Corr
0.98	LCMNX	Miller Income	Pair Corr
0.68	VMVAX	Vanguard Mid Cap	Pair Corr
0.67	VMVIX	Vanguard Mid Cap	Pair Corr
0.96	VSTSX	Vanguard Total Stock	Pair Corr
0.96	VSMPX	Vanguard Total Stock	Pair Corr
0.96	VITSX	Vanguard Total Stock	Pair Corr
0.94	VFFSX	Vanguard 500 Index	Pair Corr
0.94	VFIAX	Vanguard 500 Index	Pair Corr
0.94	VINIX	Vanguard Institutional	Pair Corr
0.96	VTSAX	Vanguard Total Stock	Pair Corr
0.62	ROGSX	Red Oak Technology	Pair Corr
0.92	CMGIX	Blackrock Mid Cap Potential Growth	Pair Corr
0.92	IIXIX	Catalyst Insider Income	Pair Corr
0.85	HGOIX	Hartford Growth	Pair Corr
0.88	DAFRX	Dunham Floating Rate	Pair Corr
0.89	CVGRX	Calamos Growth	Pair Corr
0.81	DXNLX	Direxion Monthly Nasdaq	Pair Corr
0.88	FGDKX	Fidelity Growth Discovery	Pair Corr
0.92	IRLIX	Voya Russelltm Large	Pair Corr

Moving against Miller Mutual Fund

0.68	VTPSX	Vanguard Total Inter	Pair Corr
0.65	VTISX	Vanguard Total Inter	Pair Corr
0.65	VTSNX	Vanguard Total Inter	Pair Corr

Related Correlations Analysis

	SRPIX	JYEBX	PHRAX	SEIRX	GURPX	MRESX	DAREX
SRPIX		-0.82	-0.9	-0.9	-0.93	-0.99	-0.92	SRPIX
JYEBX	-0.82		0.94	0.97	0.95	0.86	0.77	JYEBX
PHRAX	-0.9	0.94		0.94	0.96	0.9	0.85	PHRAX
SEIRX	-0.9	0.97	0.94		0.97	0.93	0.86	SEIRX
GURPX	-0.93	0.95	0.96	0.97		0.96	0.88	GURPX
MRESX	-0.99	0.86	0.9	0.93	0.96		0.93	MRESX
DAREX	-0.92	0.77	0.85	0.86	0.88	0.93		DAREX
	SRPIX	JYEBX	PHRAX	SEIRX	GURPX	MRESX	DAREX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SEIRX	+ 0.97	JYEBX
GURPX	+ 0.97	SEIRX
GURPX	+ 0.96	PHRAX
MRESX	+ 0.96	GURPX
GURPX	+ 0.95	JYEBX
PHRAX	+ 0.94	JYEBX

High negative correlations

MRESX	- 0.99	SRPIX
GURPX	- 0.93	SRPIX
DAREX	- 0.92	SRPIX
SEIRX	- 0.9	SRPIX
PHRAX	- 0.9	SRPIX
JYEBX	- 0.82	SRPIX

Risk-Adjusted Indicators

There is a big difference between Miller Mutual Fund performing well and Miller Opportunity 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 Opportunity'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
SRPIX	0.81	0.15	0.12	(0.45)	0.70	(0.98)	1.95	(1.27)	6.20
JYEBX	0.71	(0.13)	0.00	(0.24)	0.00	0.00	1.15	(1.54)	5.46
PHRAX	0.84	(0.21)	0.00	(0.45)	0.00	0.00	1.23	(1.88)	9.55
SEIRX	0.77	(0.14)	0.00	(0.23)	0.00	0.00	1.27	(1.96)	5.55
GURPX	0.68	(0.15)	0.00	(0.32)	0.00	0.00	1.24	(1.83)	5.09
MRESX	0.75	(0.13)	0.00	(0.31)	0.00	0.00	1.26	(1.73)	5.40
DAREX	0.73	(0.12)	0.00	(0.17)	0.00	0.00	1.28	(1.82)	5.58

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