Miller Opportunity Correlations

LMOFX Fund

USD 38.63 0.20 0.52%

The current 90-days correlation between Miller Opportunity Trust and Short Duration Inflation is -0.33 (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

Poor diversification

The correlation between Miller Opportunity Trust and DJI is 0.72 (i.e., 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

0.94	LGOAX	Miller Opportunity Trust	Pair Corr
0.95	LMCKX	Miller Income	Pair Corr
0.85	LMCLX	Miller Income	Pair Corr
1.0	LMOPX	Miller Opportunity Trust	Pair Corr
0.94	LMORX	Miller Opportunity Trust	Pair Corr
1.0	LMNOX	Miller Opportunity Trust	Pair Corr
0.94	MVISX	Miller Opportunity Trust	Pair Corr
0.95	LCMNX	Miller Income	Pair Corr
0.89	FLPKX	Fidelity Low Priced	Pair Corr
0.83	FLPSX	Fidelity Low Priced	Pair Corr
0.82	VMVAX	Vanguard Mid Cap	Pair Corr
0.88	JVMAX	John Hancock Disciplined	Pair Corr
0.88	JVMIX	John Hancock Disciplined	Pair Corr
0.83	VMVIX	Vanguard Mid Cap	Pair Corr
0.93	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.93	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.93	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.93	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.66	SMPSX	Semiconductor Ultrasector	Pair Corr
0.68	SMPIX	Semiconductor Ultrasector	Pair Corr

Moving against Miller Mutual Fund

0.63	PMZPX	Pimco Mortgage Oppor	Pair Corr
0.59	LCRVX	Lord Abbett E	Pair Corr
0.36	EGRAX	Eaton Vance Global	Pair Corr
0.69	RYWBX	Weakening Dollar	Pair Corr
0.59	FLRRX	Franklin Low Duration	Pair Corr

Related Correlations Analysis

	APISX	VIPIX	HIPAX	ABNOX	SLFYX	TILUX
APISX		0.98	0.99	0.91	0.96	0.98	APISX
VIPIX	0.98		1.0	0.91	0.93	1.0	VIPIX
HIPAX	0.99	1.0		0.92	0.95	0.99	HIPAX
ABNOX	0.91	0.91	0.92		0.85	0.92	ABNOX
SLFYX	0.96	0.93	0.95	0.85		0.94	SLFYX
TILUX	0.98	1.0	0.99	0.92	0.94		TILUX
	APISX	VIPIX	HIPAX	ABNOX	SLFYX	TILUX

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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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
APISX	0.10	0.00	0.24	0.00	(0.15)	0.19	(0.10)	0.67
VIPIX	0.22	0.04	0.15	0.77	(0.27)	0.53	(0.42)	1.30
HIPAX	0.14	0.04	0.16	1.19	(0.21)	0.30	(0.20)	0.99
ABNOX	0.15	0.04	0.20	(0.92)	(0.20)	0.39	(0.29)	0.89
SLFYX	0.18	0.08	0.39	(1.57)	(0.28)	0.50	(0.25)	1.02
TILUX	0.21	0.05	0.18	2.04	(0.28)	0.49	(0.37)	1.24

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