Miller Intermediate Correlations

MIFCX Fund

USD 27.65 0.02 0.07%

The current 90-days correlation between Miller Intermediate Bond and Miller Market Neutral is -0.34 (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 0.36 (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 main economic indicators.

Moving together with Miller Mutual Fund

0.61	MCFCX	Miller Vertible Bond	Pair Corr
0.7	MCFAX	Miller Vertible Bond	Pair Corr
0.62	MCIFX	Miller Vertible Bond	Pair Corr
0.96	MIFAX	Miller Intermediate Bond	Pair Corr
0.61	MIFIX	Miller Intermediate Bond	Pair Corr
0.69	PGDRX	Diversified Real Asset	Pair Corr
0.62	FPTKX	Fidelity Freedom 2015	Pair Corr
0.64	UTVGX	My529 Growth Index	Pair Corr
0.66	FTESX	Templeton Emerging	Pair Corr
0.72	RERAX	Europacific Growth	Pair Corr
0.64	MMZMX	Mmzmx	Pair Corr
0.62	FCUEX	Fiera Capital Equity	Pair Corr
0.64	MURMX	Mutual Of America	Pair Corr
0.8	ARYMX	Global Real Estate	Pair Corr

Moving against Miller Mutual Fund

0.48	PQTAX	Pimco Trends Managed	Pair Corr
0.48	PQTNX	Pimco Trends Managed	Pair Corr
0.47	PQTIX	Aa Pimco Tr	Pair Corr
0.36	GPMFX	Guidepath Managed Futures	Pair Corr

Related Correlations Analysis

	MMNIX	MCFCX	MCFAX	MCIFX	MIFAX	MIFCX	MIFIX
MMNIX		0.96	0.91	0.96	0.67	0.49	0.96	MMNIX
MCFCX	0.96		0.98	1.0	0.76	0.61	1.0	MCFCX
MCFAX	0.91	0.98		0.98	0.8	0.7	0.98	MCFAX
MCIFX	0.96	1.0	0.98		0.76	0.62	1.0	MCIFX
MIFAX	0.67	0.76	0.8	0.76		0.96	0.76	MIFAX
MIFCX	0.49	0.61	0.7	0.62	0.96		0.61	MIFCX
MIFIX	0.96	1.0	0.98	1.0	0.76	0.61		MIFIX
	MMNIX	MCFCX	MCFAX	MCIFX	MIFAX	MIFCX	MIFIX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MMNIX	0.08	0.03	(0.80)	(1.11)	0.00	(0.13)	0.19	(0.09)	0.56
MCFCX	0.22	0.04	(0.25)	0.28	0.00	(0.28)	0.51	(0.34)	1.56
MCFAX	0.23	0.03	(0.27)	0.25	0.00	(0.28)	0.56	(0.39)	1.53
MCIFX	0.23	0.04	(0.22)	0.29	0.00	(0.28)	0.56	(0.34)	1.46
MIFAX	0.29	0.01	(0.25)	0.22	0.30	(0.30)	0.67	(0.58)	1.83
MIFCX	0.30	0.00	(0.25)	0.16	0.36	(0.30)	0.63	(0.61)	2.18
MIFIX	0.14	0.02	(0.47)	0.29	0.00	(0.18)	0.31	(0.25)	0.99

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