Compass Minerals Correlations

CMP Stock

USD 24.93 0.90 3.48%

The current 90-days correlation between Compass Minerals Int and Nexa Resources SA is 0.17 (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 0.81 (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

0.87	IONR	ioneer American	Pair Corr
0.85	CTGO	Contango ORE Earnings Call This Week	Pair Corr
0.72	ATCOL	Atlas Corp	Pair Corr
0.74	KNYJF	KONE Oyj Earnings Call This Week	Pair Corr
0.69	JRVR	James River Group	Pair Corr
0.79	URG	Ur Energy	Pair Corr
0.63	SUNFF	Sun Life Financial	Pair Corr
0.9	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.8	MRK	Merck Company Earnings Call This Week	Pair Corr
0.78	DD	Dupont De Nemours Sell-off Trend	Pair Corr
0.89	AA	Alcoa Corp	Pair Corr
0.85	BA	Boeing	Pair Corr
0.63	PFE	Pfizer Inc Earnings Call This Week	Pair Corr

Moving against Compass Stock

0.81	ADVWW	Advantage Solutions	Pair Corr
0.76	GCMGW	GCM Grosvenor	Pair Corr
0.74	MAPSW	WM Technology	Pair Corr
0.37	PCTTW	PureCycle Technologies	Pair Corr
0.36	DOCKF	Beyond Medical Techn	Pair Corr
0.34	GOEVW	Canoo Holdings	Pair Corr
0.84	HPQ	HP Inc	Pair Corr
0.67	T	ATT Inc Earnings Call This Week	Pair Corr
0.67	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	NEXA	GTI	LAR	ABAT	NB	NMG	SGML	IAUX	ODC	GSM
NEXA		-0.64	0.94	0.28	0.22	0.33	0.78	0.93	-0.06	0.62	NEXA
GTI	-0.64		-0.67	-0.47	-0.29	-0.09	-0.5	-0.53	0.09	-0.48	GTI
LAR	0.94	-0.67		0.36	0.28	0.41	0.8	0.84	-0.04	0.62	LAR
ABAT	0.28	-0.47	0.36		0.87	0.45	0.05	0.17	0.27	0.66	ABAT
NB	0.22	-0.29	0.28	0.87		0.48	-0.07	0.09	0.42	0.59	NB
NMG	0.33	-0.09	0.41	0.45	0.48		0.18	0.29	0.2	0.32	NMG
SGML	0.78	-0.5	0.8	0.05	-0.07	0.18		0.86	-0.53	0.52	SGML
IAUX	0.93	-0.53	0.84	0.17	0.09	0.29	0.86		-0.29	0.62	IAUX
ODC	-0.06	0.09	-0.04	0.27	0.42	0.2	-0.53	-0.29		-0.12	ODC
GSM	0.62	-0.48	0.62	0.66	0.59	0.32	0.52	0.62	-0.12		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	+ 0.94	NEXA
IAUX	+ 0.93	NEXA
NB	+ 0.87	ABAT
IAUX	+ 0.86	SGML
IAUX	+ 0.84	LAR
SGML	+ 0.8	LAR

High negative correlations

LAR	- 0.67	GTI
GTI	- 0.64	NEXA
ODC	- 0.53	SGML
IAUX	- 0.53	GTI
SGML	- 0.5	GTI
GSM	- 0.48	GTI

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	3.20	1.37	0.54	1.29	1.81	(4.23)	7.80	(3.52)	15.16
GTI	8.61	0.42	0.03	0.30	14.30	(9.66)	19.74	(10.95)	128.11
LAR	3.66	0.85	0.20	1.96	3.73	(4.29)	9.25	(7.11)	22.80
ABAT	5.88	(0.35)	0.00	(0.09)	0.00	0.00	10.78	(9.87)	35.69
NB	5.18	(0.26)	0.00	(0.10)	0.00	0.00	9.52	(11.51)	26.34
NMG	3.74	(0.07)	0.00	(0.01)	0.00	0.00	6.94	(7.51)	29.51
SGML	6.84	1.60	0.20	(1.44)	6.88	(8.12)	15.91	(13.89)	48.40
IAUX	2.61	0.97	0.25	2.45	2.96	(3.19)	5.62	(5.15)	14.98
ODC	1.63	(0.04)	0.00	0.15	0.00	0.00	3.16	(3.03)	15.64
GSM	2.43	(0.05)	(0.02)	(0.01)	3.19	(2.59)	5.66	(5.47)	19.69

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