Miller Opportunity Correlations

LMOPX Fund

USD 34.25 0.27 0.78%

The current 90-days correlation between Miller Opportunity Trust and Bbh Intermediate Municipal is -0.12 (i.e., 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

Very poor diversification

The correlation between Miller Opportunity Trust and DJI is 0.83 (i.e., Very 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 american community survey.

Moving together with Miller Mutual Fund

1.0	LGOAX	Miller Opportunity Trust	Pair Corr
0.98	LMCKX	Miller Income	Pair Corr
0.98	LMCLX	Miller Income	Pair Corr
0.98	LMCJX	Miller Income	Pair Corr
0.98	LMCMX	Miller Income	Pair Corr
1.0	LMOFX	Miller Opportunity Trust	Pair Corr
1.0	LMORX	Miller Opportunity Trust	Pair Corr
1.0	LMNOX	Miller Opportunity Trust	Pair Corr
1.0	MVISX	Miller Opportunity Trust	Pair Corr
0.98	LCMNX	Miller Income	Pair Corr
0.89	VMVAX	Vanguard Mid Cap	Pair Corr
0.92	JVMAX	John Hancock Disciplined	Pair Corr
0.92	JVMIX	John Hancock Disciplined	Pair Corr
0.89	VMVIX	Vanguard Mid Cap	Pair Corr
0.7	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.74	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.73	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.75	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.86	GVCAX	Gabelli Value	Pair Corr
0.96	FIVUX	First Investors Oppo	Pair Corr
0.97	AMGOX	Alger Mid Cap	Pair Corr
0.63	FSUTX	Utilities Portfolio	Pair Corr
0.97	VFINX	Vanguard 500 Index	Pair Corr
0.93	BTCVX	Cboe Vest Bitcoin	Pair Corr
0.96	CLM	Cornerstone Strategic	Pair Corr
0.97	FZROX	Fidelity Zero Total	Pair Corr

Moving against Miller Mutual Fund

0.5	CSJZX	Cohen Steers Realty	Pair Corr
0.5	CSRSX	Cohen Steers Realty	Pair Corr

Related Correlations Analysis

	BBINX	USCBX	XDLYX	PRFHX	PHDTX	CFNLX	BIDPX
BBINX		0.95	0.75	0.95	0.35	0.98	0.98	BBINX
USCBX	0.95		0.59	0.93	0.45	0.92	0.97	USCBX
XDLYX	0.75	0.59		0.69	-0.15	0.81	0.71	XDLYX
PRFHX	0.95	0.93	0.69		0.27	0.96	0.97	PRFHX
PHDTX	0.35	0.45	-0.15	0.27		0.2	0.32	PHDTX
CFNLX	0.98	0.92	0.81	0.96	0.2		0.98	CFNLX
BIDPX	0.98	0.97	0.71	0.97	0.32	0.98		BIDPX
	BBINX	USCBX	XDLYX	PRFHX	PHDTX	CFNLX	BIDPX

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

CFNLX	+ 0.98	BBINX
BIDPX	+ 0.98	BBINX
BIDPX	+ 0.98	CFNLX
BIDPX	+ 0.97	USCBX
BIDPX	+ 0.97	PRFHX
CFNLX	+ 0.96	PRFHX

High negative correlations

PHDTX

- 0.15

XDLYX

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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BBINX	0.13	(0.01)	0.00	0.18	0.00	0.00	0.29	(0.29)	1.07
USCBX	0.16	0.00	(0.24)	0.09	0.26	(0.23)	0.39	(0.48)	1.74
XDLYX	0.13	(0.02)	0.00	(1.33)	0.00	0.00	0.24	(0.31)	1.11
PRFHX	0.16	(0.01)	0.00	0.20	0.00	0.00	0.44	(0.44)	1.61
PHDTX	0.09	0.02	(0.44)	0.39	0.00	(0.14)	0.22	(0.11)	0.56
CFNLX	0.13	(0.01)	0.00	0.27	0.00	0.00	0.22	(0.32)	1.13
BIDPX	0.16	(0.01)	0.00	0.22	0.00	0.00	0.27	(0.45)	1.36

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