Miller Intermediate Correlations

Mutual Funds . USA . 
Fund . Miller Intermediate Bond
MIFAX Fund  USD 27.64  0.07  0.25%   
The current 90-days correlation between Miller Intermediate Bond and Miller Market Neutral is -0.35 (i.e., Very good diversification). 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

Weak diversification

The correlation between Miller Intermediate Bond and DJI is 0.34 (i.e., Weak 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 nation.

Moving together with Miller Mutual Fund

  0.67MMNIX Miller Market NeutralPairCorr
  0.76MCFCX Miller Vertible BondPairCorr
  0.8MCFAX Miller Vertible BondPairCorr
  0.76MCIFX Miller Vertible BondPairCorr
  0.96MIFCX Miller Intermediate BondPairCorr
  0.76MIFIX Miller Intermediate BondPairCorr
  0.64VICSX Vanguard IntermediatePairCorr
  0.63VFICX Vanguard Intermediate-terPairCorr
  0.64VFIDX Vanguard Intermediate-terPairCorr
  0.63VICBX Vanguard IntermediatePairCorr
  0.64WARCX Wells Fargo AdvantagePairCorr
  0.84PGDRX Diversified Real AssetPairCorr
  0.78FPTKX Fidelity Freedom 2015PairCorr
  0.79UTVGX My529 Growth IndexPairCorr
  0.7HBLTX Hartford BalancedPairCorr
  0.8FTESX Templeton EmergingPairCorr
  0.84RERAX Europacific GrowthPairCorr
  0.67KGIRX Kopernik InternationalPairCorr
  0.79MMZMX MmzmxPairCorr
  0.73FCUEX Fiera Capital EquityPairCorr
  0.7RBCUX Tax Exempt BondPairCorr
  0.71PBCAX Prudential CaliforniaPairCorr
  0.79MURMX Mutual Of AmericaPairCorr
  0.88ARYMX Global Real EstatePairCorr
  0.7PRFSX T Rowe PricePairCorr

Moving against Miller Mutual Fund

  0.45PQTAX Pimco Trends ManagedPairCorr
  0.45PQTNX Pimco Trends ManagedPairCorr
  0.38GPMFX Guidepath Managed FuturesPairCorr
  0.36PQTIX Aa Pimco TrPairCorr

Related Correlations Analysis

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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.

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