Miller Intermediate Correlations

MIFIX Fund

USD 16.42 0.05 0.31%

The correlation of Miller Intermediate 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 Intermediate Correlation With Market

Modest diversification

The correlation between Miller Intermediate Bond and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Miller Intermediate Bond 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 Intermediate Bond. 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 gross domestic product.

Moving together with Miller Mutual Fund

0.76	MCFCX	Miller Vertible Bond	Pair Corr
0.76	MCFAX	Miller Vertible Bond	Pair Corr
0.76	MCIFX	Miller Vertible Bond	Pair Corr
0.89	FCSZX	Franklin Convertible	Pair Corr
0.89	FCSKX	Franklin Convertible	Pair Corr
0.89	FISCX	Franklin Convertible	Pair Corr
0.9	FROTX	Franklin Convertible	Pair Corr
0.84	ANZCX	Allianzgi Vertible	Pair Corr
0.84	ANZAX	Allianzgi Vertible	Pair Corr
0.84	ANNPX	Allianzgi Convertible	Pair Corr
0.84	VAADX	Virtus Convertible	Pair Corr
0.85	FCVSX	Fidelity Convertible	Pair Corr
0.69	MCSVX	Mainstay Vertible	Pair Corr
0.73	SMFPX	Salient Mlp Energy Steady Growth	Pair Corr
0.94	VSMAX	Vanguard Small Cap	Pair Corr
0.61	VIGAX	Vanguard Growth Index	Pair Corr
0.85	VTSAX	Vanguard Total Stock	Pair Corr
0.9	GAB	Gabelli Equity Trust	Pair Corr
0.88	ALMAX	Alger Smidcap Focus	Pair Corr
0.82	VFIAX	Vanguard 500 Index	Pair Corr
0.82	FXAIX	Fidelity 500 Index	Pair Corr
0.61	PRGTX	T Rowe Price	Pair Corr
0.85	FZROX	Fidelity Zero Total	Pair Corr

Moving against Miller Mutual Fund

0.38	GAAKX	Gmo Alternative Allo	Pair Corr
0.38	GAAGX	Gmo Alternative Allo	Pair Corr

Related Correlations Analysis

	AIEXX	JRSXX	PFCXX	HUCXX	ICAXX	CHNTX	ELMXX
AIEXX		0.0	0.0	0.0	0.0	0.0	0.0	AIEXX
JRSXX	0.0		0.0	0.0	0.0	0.0	0.0	JRSXX
PFCXX	0.0	0.0		0.0	0.0	0.0	0.0	PFCXX
HUCXX	0.0	0.0	0.0		0.0	0.0	0.0	HUCXX
ICAXX	0.0	0.0	0.0	0.0		0.0	0.0	ICAXX
CHNTX	0.0	0.0	0.0	0.0	0.0		0.0	CHNTX
ELMXX	0.0	0.0	0.0	0.0	0.0	0.0		ELMXX
	AIEXX	JRSXX	PFCXX	HUCXX	ICAXX	CHNTX	ELMXX

Click cells to compare fundamentals

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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

JRSXX	+ 0.0	AIEXX
PFCXX	+ 0.0	AIEXX
HUCXX	+ 0.0	AIEXX
ICAXX	+ 0.0	AIEXX
CHNTX	+ 0.0	AIEXX
ELMXX	+ 0.0	AIEXX

High negative correlations

ELMXX	- 0.0	CHNTX
ELMXX	- 0.0	ICAXX
CHNTX	- 0.0	ICAXX
ELMXX	- 0.0	HUCXX
CHNTX	- 0.0	HUCXX
ICAXX	- 0.0	HUCXX

Risk-Adjusted Indicators

There is a big difference between Miller Mutual Fund performing well and Miller Intermediate 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 Intermediate'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	Sortino Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AIEXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JRSXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PFCXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HUCXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CHNTX	0.50	(0.02)	0.66	(0.55)	0.94	(0.86)	5.66
ELMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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