Miller Intermediate Correlations

Mutual Funds . USA . 
Fund . Miller Intermediate Bond
MIFIX Fund  USD 16.47  0.01  0.06%   
The current 90-days correlation between Miller Intermediate Bond and Auer Growth Fund is 0.56 (i.e., Very weak 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

Very poor diversification

The correlation between Miller Intermediate Bond and DJI is 0.81 (i.e., Very poor 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

  1.0MCIFX Miller Vertible BondPairCorr
  0.76MIFAX Miller Intermediate BondPairCorr
  0.61MIFCX Miller Intermediate BondPairCorr
  0.85PONAX Pimco IncomePairCorr
  0.82PONCX Pimco IncomePairCorr
  0.85PIPNX Pimco IncomePairCorr
  0.82PONRX Pimco IncomePairCorr
  0.83PONPX Pimco Incme FundPairCorr
  0.84PIINX Pimco IncomePairCorr
  0.83PIMIX Pimco IncomePairCorr
  0.95LBNDX Lord Abbett BondPairCorr
  0.96FSTAX Fidelity Advisor StrPairCorr
  0.96FSRIX Fidelity Advisor StrPairCorr
  0.97VTSAX Vanguard Total StockPairCorr
  0.99VFIAX Vanguard 500 IndexPairCorr
  0.97VTSMX Vanguard Total StockPairCorr
  0.97VSMPX Vanguard Total StockPairCorr
  0.97VSTSX Vanguard Total StockPairCorr
  0.99VITSX Vanguard Total StockPairCorr
  0.99VFINX Vanguard 500 IndexPairCorr
  0.97VFFSX Vanguard 500 IndexPairCorr
  0.97VGTSX Vanguard Total InterPairCorr
  0.97VTIAX Vanguard Total InterPairCorr
  0.94FSMBX Tributary Smallmid CapPairCorr
  0.66STBDX Sierra Tactical BondPairCorr
  0.98LSIRX Clearbridge Mid CapPairCorr
  0.97FBKFX Fidelity BalancedPairCorr
  0.96JINTX Johnson InternationalPairCorr
  0.98TWGIX Growth Fund IPairCorr
  0.91CLM Cornerstone StrategicPairCorr
  0.87FUFRX Franklin UtilitiesPairCorr
  0.97SMHYX Aim Counselor SeriesPairCorr
  0.69TIORX Tiaa Cref BondPairCorr
  0.98AONIX One Choice PortfolioPairCorr
  0.88PEO Adams Natural ResourcesPairCorr
  0.96MISMX Matthews Asia SmallPairCorr
  0.95JIESX Jpmorgan InternationalPairCorr
  0.99QIBGX Federated Mdt BalancedPairCorr
  0.97RBITX American Funds 2050PairCorr

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 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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