Compass Minerals Correlations

CMP Stock

USD 24.43 0.74 3.12%

The current 90-days correlation between Compass Minerals Int and Nexa Resources SA is 0.31 (i.e., Weak 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

Poor diversification

The correlation between Compass Minerals International and DJI is 0.78 (i.e., 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 state.

Moving together with Compass Stock

0.75	AACA	AALBERTS IND Earnings Call Tomorrow	Pair Corr
0.78	CAV	Carnavale Resources Split	Pair Corr
0.73	C9F	CHIPOTLE MEXICAN	Pair Corr
0.75	VVDH	VEOLIA ENV SP	Pair Corr
0.71	C9F	CHIPOTLE MEXICAN	Pair Corr
0.85	21L	Alphamin Resources Corp	Pair Corr
0.71	RMY	RAMSAY HEALTH CARE Earnings Call Tomorrow	Pair Corr
0.61	FR7	Fast Retailing	Pair Corr
0.68	CVLC	VALE N1	Pair Corr
0.65	CWN	CROWN HOLDINGS	Pair Corr
0.91	OTP	OTP Bank Nyrt	Pair Corr
0.79	A8D	AB SCIENCE	Pair Corr
0.81	PF8	European Lithium	Pair Corr
0.76	DC	Dakota Gold Corp Earnings Call Today	Pair Corr
0.83	IE	Ivanhoe Electric Earnings Call This Week	Pair Corr
0.89	DEZ	Deutz AG	Pair Corr

Moving against Compass Stock

0.68	6WX	CN LONGYUAN POWER	Pair Corr
0.59	6RC	REPROCELL	Pair Corr
0.42	VA7A	VERISK ANLYTCS A	Pair Corr
0.88	SON1	Sony Group Corp	Pair Corr
0.81	GEO	Empire Metals Limited	Pair Corr
0.38	BF5B	BROWN NON VTG Earnings Call This Week	Pair Corr
0.77	UMD	UMT United Mobility	Pair Corr
0.75	BF5B	BROWN NON VTG Earnings Call This Week	Pair Corr
0.44	EO5	EOG RESOURCES	Pair Corr
0.33	ENT	Enterprise Metals	Pair Corr

Related Correlations Analysis

	NEXA	GTI	LAR	ABAT	NB	NMG	SGML	IAUX	ODC	GSM
NEXA		-0.57	0.88	0.52	0.43	-0.25	0.52	0.88	0.62	0.81	NEXA
GTI	-0.57		-0.33	0.03	-0.08	0.53	0.2	-0.53	-0.83	-0.31	GTI
LAR	0.88	-0.33		0.67	0.56	0.02	0.63	0.69	0.47	0.74	LAR
ABAT	0.52	0.03	0.67		0.63	0.47	0.48	0.3	-0.05	0.5	ABAT
NB	0.43	-0.08	0.56	0.63		0.55	0.3	0.18	-0.01	0.38	NB
NMG	-0.25	0.53	0.02	0.47	0.55		0.03	-0.42	-0.6	-0.15	NMG
SGML	0.52	0.2	0.63	0.48	0.3	0.03		0.52	-0.1	0.62	SGML
IAUX	0.88	-0.53	0.69	0.3	0.18	-0.42	0.52		0.65	0.86	IAUX
ODC	0.62	-0.83	0.47	-0.05	-0.01	-0.6	-0.1	0.65		0.48	ODC
GSM	0.81	-0.31	0.74	0.5	0.38	-0.15	0.62	0.86	0.48		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	+ 0.88	NEXA
IAUX	+ 0.88	NEXA
GSM	+ 0.86	IAUX
GSM	+ 0.81	NEXA
GSM	+ 0.74	LAR
IAUX	+ 0.69	LAR

High negative correlations

ODC	- 0.83	GTI
ODC	- 0.6	NMG
GTI	- 0.57	NEXA
IAUX	- 0.53	GTI
IAUX	- 0.42	NMG
LAR	- 0.33	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	3.31	0.96	0.25	0.77	3.34	(3.79)	7.45	(6.54)	18.98
GTI	8.61	0.30	0.03	0.22	14.30	(9.66)	19.74	(10.95)	128.11
LAR	3.84	0.73	0.17	0.62	4.12	(4.47)	9.22	(7.49)	23.79
ABAT	5.34	0.27	0.04	0.61	5.84	(5.83)	10.78	(9.23)	38.57
NB	5.28	(0.05)	0.00	0.06	6.65	(5.39)	12.26	(11.51)	35.70
NMG	3.70	(0.20)	0.00	(0.15)	0.00	0.00	6.94	(10.70)	24.20
SGML	6.28	1.06	0.14	7.09	6.81	(7.12)	15.91	(13.89)	48.52
IAUX	3.08	0.86	0.19	0.63	3.75	(3.66)	7.34	(6.73)	21.04
ODC	1.58	0.20	0.06	0.36	2.51	(1.62)	3.18	(2.29)	15.65
GSM	2.35	0.08	0.05	0.14	2.88	(2.66)	5.52	(4.45)	15.15

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