Compass Minerals Correlations

CMP Stock

USD 25.05 0.52 2.03%

The current 90-days correlation between Compass Minerals Int and Nexa Resources SA is 0.18 (i.e., Average diversification). The correlation of Compass Minerals 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.

Compass Minerals Correlation With Market

Very poor diversification

The correlation between Compass Minerals International and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Compass Minerals International and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Compass Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Compass Minerals International. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Compass Stock

0.74	LGLD	LG ELECTRONICS INC	Pair Corr
0.84	002716	Chenzhou Jingui Silver	Pair Corr
0.63	DAL	Dalaroo Metals	Pair Corr
0.68	RVT	Richmond Vanadium	Pair Corr
0.91	000603	Shengda Mining	Pair Corr
0.89	BHP	BHP Group Limited	Pair Corr
0.66	MMA	Midnight Sun Mining	Pair Corr
0.88	SLVR	Silver Tiger Metals	Pair Corr
0.67	LZM	Lifezone Metals	Pair Corr
0.9	NRC	NMC Resource	Pair Corr
0.79	POW	Power Metal Resources	Pair Corr
0.88	AMI	Aurelia Metals	Pair Corr
0.8	EMS	Eastern Metals Split	Pair Corr
0.9	EDV	Endeavour Mining Corp	Pair Corr
0.85	MBK	Metal Bank	Pair Corr
0.61	EM2	Eagle Mountain Mining	Pair Corr
0.8	SFR	Sandfire Resources	Pair Corr
0.84	MTL	Metals Exploration Plc	Pair Corr
0.88	GRE	Greentech Metals	Pair Corr
0.77	002149	Western Metal Materials	Pair Corr

Moving against Compass Stock

0.85	GEO	Empire Metals Limited	Pair Corr
0.48	FEAM	5E Advanced Materials	Pair Corr
0.39	THR	Thor Mining PLC	Pair Corr
0.62	VHL	Vitasora Health	Pair Corr
0.6	CMET	Capital Metals PLC	Pair Corr
0.47	CNSD	China Steel	Pair Corr
0.46	VML	Vital Metals	Pair Corr

Related Correlations Analysis

	NEXA	GTI	LAR	ABAT	NB	NMG	SGML	IAUX	ODC	GSM
NEXA		0.06	0.96	0.1	-0.02	0.3	0.82	0.92	-0.22	0.54	NEXA
GTI	0.06		-0.01	-0.06	-0.11	0.2	0.13	0.23	-0.33	0.04	GTI
LAR	0.96	-0.01		0.15	0.05	0.37	0.79	0.82	-0.14	0.54	LAR
ABAT	0.1	-0.06	0.15		0.91	0.42	-0.11	0.01	0.4	0.66	ABAT
NB	-0.02	-0.11	0.05	0.91		0.44	-0.23	-0.12	0.48	0.59	NB
NMG	0.3	0.2	0.37	0.42	0.44		0.14	0.22	0.23	0.32	NMG
SGML	0.82	0.13	0.79	-0.11	-0.23	0.14		0.87	-0.61	0.42	SGML
IAUX	0.92	0.23	0.82	0.01	-0.12	0.22	0.87		-0.43	0.55	IAUX
ODC	-0.22	-0.33	-0.14	0.4	0.48	0.23	-0.61	-0.43		-0.04	ODC
GSM	0.54	0.04	0.54	0.66	0.59	0.32	0.42	0.55	-0.04		GSM
	NEXA	GTI	LAR	ABAT	NB	NMG	SGML	IAUX	ODC	GSM

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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

LAR	+ 0.96	NEXA
IAUX	+ 0.92	NEXA
NB	+ 0.91	ABAT
IAUX	+ 0.87	SGML
SGML	+ 0.82	NEXA
IAUX	+ 0.82	LAR

High negative correlations

ODC	- 0.61	SGML
ODC	- 0.43	IAUX
ODC	- 0.33	GTI
SGML	- 0.23	NB
ODC	- 0.22	NEXA
ODC	- 0.14	LAR

Risk-Adjusted Indicators

There is a big difference between Compass Stock performing well and Compass Minerals Company 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 Compass Minerals' 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
NEXA	3.14	1.47	0.59	1.47	1.76	(4.23)	7.80	(3.52)	15.16
GTI	11.12	(0.66)	0.00	(2.47)	0.00	0.00	25.76	(30.59)	78.61
LAR	3.50	1.23	0.31	(2.37)	3.00	(4.34)	9.27	(5.96)	22.80
ABAT	5.82	(0.44)	0.00	(0.08)	0.00	0.00	10.78	(9.87)	35.69
NB	5.03	(0.30)	0.00	(0.08)	0.00	0.00	9.52	(11.50)	22.57
NMG	3.57	(0.02)	0.00	0.05	5.41	(3.89)	6.88	(6.46)	29.51
SGML	6.90	1.61	0.19	(1.69)	6.94	(8.18)	15.91	(13.89)	48.40
IAUX	2.73	0.83	0.18	(12.85)	3.48	(3.20)	5.62	(5.15)	14.98
ODC	1.65	(0.08)	0.00	(0.03)	0.00	0.00	3.16	(3.03)	15.64
GSM	2.53	(0.08)	(0.02)	(0.01)	3.38	(2.53)	5.66	(5.47)	19.69

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