Miller Income Correlations

Mutual Funds . USA . 
Fund . Miller Income Fund
LMCKX Fund  USD 8.69  0.12  1.40%   
The current 90-days correlation between Miller Income and John Hancock Variable is 0.37 (i.e., Weak 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 0.62 (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 industry.

Moving together with Miller Mutual Fund

  0.63LGOAX Miller Opportunity TrustPairCorr
  1.0LMCLX Miller IncomePairCorr
  1.0LMCJX Miller IncomePairCorr
  1.0LMCMX Miller IncomePairCorr
  0.63LMOFX Miller Opportunity TrustPairCorr
  0.64LMOPX Miller Opportunity TrustPairCorr
  0.63LMORX Miller Opportunity TrustPairCorr
  0.62LMNOX Miller Opportunity TrustPairCorr
  0.62MVISX Miller Opportunity TrustPairCorr
  1.0LCMNX Miller IncomePairCorr
  0.63IFACX Income FundPairCorr
  0.61IFAFX Income FundPairCorr
  0.61AMECX Income FundPairCorr
  0.63RIDBX Income FundPairCorr
  0.62CIMEX Income FundPairCorr
  0.63CIMCX Income FundPairCorr
  0.61CIMFX Income FundPairCorr
  0.75WHIYX Ivy High IncomePairCorr
  0.75IVHIX Ivy High IncomePairCorr
  0.75IHIFX Ivy High IncomePairCorr
  0.74WRHIX Ivy High IncomePairCorr
  0.75WHIAX Ivy High IncomePairCorr
  0.71CSJZX Cohen Steers RealtyPairCorr
  0.71CSRSX Cohen Steers RealtyPairCorr

Moving against Miller Mutual Fund

  0.39IGRSX Lord Abbett InvestmentPairCorr
  0.34PLBCX Pacific Funds FloatingPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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