Miller Mutual Fund Quote

MCFAX
 Fund
  

USD 11.82  0.07  0.59%   

Market Performance
0 of 100
Odds Of Distress
Less than 1
Miller Convertible is trading at 11.82 as of the 5th of October 2022; that is -0.59 percent decrease since the beginning of the trading day. The fund's open price was 11.89. Miller Convertible has a very small chance of experiencing financial distress in the next few years, but has generated negative returns over the last 90 days. Equity ratings for Miller Convertible Bond are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 15th of October 2020 and ending today, the 5th of October 2022. Click here to learn more.
The investment seeks to maximize total return comprising current income and capital appreciation, consistent with preservation of capital. Miller Convertible is traded on NASDAQ Exchange in the United States. More on Miller Convertible Bond

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Miller Convertible Mutual Fund Highlights

Most reasonable investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend. Miller Convertible's investment highlights are automatically generated signals that are significant enough to either complement your investing judgment regarding Miller Convertible or challenge it. These highlights can help you better understand the position you are entering and avoid costly mistakes.
Miller Convertible generated a negative expected return over the last 90 days
Miller Convertible is unlikely to experience financial distress in the next 2 years
On 16th of September 2022 Miller Convertible paid $ 0.0534 per share dividend to its current shareholders
Latest headline from www.usnews.com: Exercise or conversion by Brian Moynihan of 15852 shares of B of A subject to Rule 16b-3
The fund maintains about 5.18% of its assets in cash
Thematic IdeaConvertibles (view all)
Macroaxis Advice
Unlike general analyst consensus, Macroaxis buy hold or sell recommendation is provided in the context of your current investment horizon and risk tolerance. The advice algorithm takes into account all of Miller Convertible's available fundamental, technical, and predictive indicators. Your current horizon is 90 days - details
Cautious HoldFairly Valued
Beta In Three Year0.88
Startdate1st of March 2010
Miller Convertible Bond [MCFAX] is traded in USA and was established 5th of October 2022. The fund is listed under Convertibles category and is part of Miller Investment family. The entity is thematically classified as Convertibles. Miller Convertible Bond now has accumulated 945.64 M in assets with minimum initial investment of 2.5 K. , while the total return for the last 3 years was 3.4%.
Check Miller Convertible Probability Of Bankruptcy

Instrument Allocation

Top Miller Convertible Bond Constituents

Miller Convertible Target Price Odds Analysis

Based on a normal probability distribution, the odds of Miller Convertible jumping above the current price in 90 days from now is close to 99%. The Miller Convertible Bond probability density function shows the probability of Miller Convertible mutual fund to fall within a particular range of prices over 90 days. Assuming the 90 days horizon Miller Convertible has a beta of 0.024. This indicates as returns on the market go up, Miller Convertible average returns are expected to increase less than the benchmark. However, during the bear market, the loss on holding Miller Convertible Bond will be expected to be much smaller as well. Additionally, the company has a negative alpha, implying that the risk taken by holding this instrument is not justified. Miller Convertible Bond is significantly underperforming DOW.
  Odds Below 11.82HorizonTargetOdds Above 11.82
0.63%90 days
 11.82 
99.34%
Based on a normal probability distribution, the odds of Miller Convertible to move above the current price in 90 days from now is close to 99 (This Miller Convertible Bond probability density function shows the probability of Miller Mutual Fund to fall within a particular range of prices over 90 days) .

Miller Convertible Bond Risk Profiles

Investors will always prefer to have the highest possible return on investment while minimizing volatility. Miller Convertible market risk premium is the additional return an investor will receive from holding Miller Convertible long position in a well-diversified portfolio. The market premium is part of the Capital Asset Pricing Model (CAPM), which most analysts and investors use to calculate the acceptable rate of return on investment in Miller Convertible. At the center of the CAPM is the concept of risk and reward, which is usually communicated by investors using alpha and beta measures. Although Miller Convertible's alpha and beta are two of the key measurements used to evaluate Miller Convertible's performance over the market, the standard measures of volatility play an important role as well.

Miller Convertible Against Markets

Picking the right benchmark for Miller Convertible mutual fund is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in Miller Convertible mutual fund price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for Miller Convertible is critical whether you are bullish or bearish towards Miller Convertible Bond at a given time.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Miller Convertible without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Invested in Miller Convertible Bond?

The danger of trading Miller Convertible Bond is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Miller Convertible is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Miller Convertible. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Miller Convertible Bond is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Additionally, see Correlation Analysis. Note that the Miller Convertible Bond information on this page should be used as a complementary analysis to other Miller Convertible's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.

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When running Miller Convertible Bond price analysis, check to measure Miller Convertible's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Miller Convertible is operating at the current time. Most of Miller Convertible's value examination focuses on studying past and present price action to predict the probability of Miller Convertible's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Miller Convertible's price. Additionally, you may evaluate how the addition of Miller Convertible to your portfolios can decrease your overall portfolio volatility.
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Please note, there is a significant difference between Miller Convertible's value and its price as these two are different measures arrived at by different means. Investors typically determine Miller Convertible value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Miller Convertible's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.