Compass Pathways Correlations

CMPS Stock

USD 7.33 0.11 1.48%

The current 90-days correlation between Compass Pathways Plc and Community Health Systems is -0.05 (i.e., Good diversification). The correlation of Compass Pathways 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 Pathways Correlation With Market

Poor diversification

The correlation between Compass Pathways Plc and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Compass Pathways Plc 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 Pathways Plc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Compass Stock

0.61	UOM	AS Latvijas Juras	Pair Corr
0.63	FRE	Fresenius SE	Pair Corr
0.72	CNC	Centene Corp	Pair Corr

Moving against Compass Stock

0.61	MD	Mednax Inc	Pair Corr
0.41	S00	Spire Healthcare Earnings Call This Week	Pair Corr
0.36	ELM	Element Lifestyle	Pair Corr
0.58	WGRX	Wellgistics Health Common	Pair Corr
0.57	PXS	Paragon Care Limited	Pair Corr
0.43	FLGT	Fulgent Genetics	Pair Corr
0.38	KDA	KDA Group	Pair Corr
0.35	FMEA	Fresenius Medical Care	Pair Corr
0.54	HQY	HealthEquity	Pair Corr
0.49	EHC	Encompass Health Corp	Pair Corr

Related Correlations Analysis

	CYH	TALK	KALV	FDMT	EHAB	GOSS	SNDA	PRTA	VREX	AVNS
CYH		0.05	0.11	0.34	0.23	-0.17	0.07	0.32	-0.1	0.08	CYH
TALK	0.05		0.27	-0.39	0.8	-0.8	0.63	-0.69	0.76	0.73	TALK
KALV	0.11	0.27		-0.21	0.24	-0.04	-0.16	-0.1	0.22	0.02	KALV
FDMT	0.34	-0.39	-0.21		-0.12	0.18	-0.06	0.58	-0.48	-0.04	FDMT
EHAB	0.23	0.8	0.24	-0.12		-0.89	0.63	-0.58	0.75	0.79	EHAB
GOSS	-0.17	-0.8	-0.04	0.18	-0.89		-0.69	0.6	-0.61	-0.71	GOSS
SNDA	0.07	0.63	-0.16	-0.06	0.63	-0.69		-0.62	0.38	0.74	SNDA
PRTA	0.32	-0.69	-0.1	0.58	-0.58	0.6	-0.62		-0.71	-0.6	PRTA
VREX	-0.1	0.76	0.22	-0.48	0.75	-0.61	0.38	-0.71		0.74	VREX
AVNS	0.08	0.73	0.02	-0.04	0.79	-0.71	0.74	-0.6	0.74		AVNS
	CYH	TALK	KALV	FDMT	EHAB	GOSS	SNDA	PRTA	VREX	AVNS

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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

EHAB	+ 0.8	TALK
AVNS	+ 0.79	EHAB
VREX	+ 0.76	TALK
VREX	+ 0.75	EHAB
AVNS	+ 0.74	SNDA
AVNS	+ 0.74	VREX

High negative correlations

GOSS	- 0.89	EHAB
GOSS	- 0.8	TALK
VREX	- 0.71	PRTA
AVNS	- 0.71	GOSS
SNDA	- 0.69	GOSS
PRTA	- 0.69	TALK

Risk-Adjusted Indicators

There is a big difference between Compass Stock performing well and Compass Pathways 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 Pathways' 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
CYH	2.26	0.34	0.11	1.18	2.21	(2.79)	5.39	(2.99)	15.66
TALK	2.63	0.58	0.21	0.56	2.57	(3.19)	5.73	(4.77)	30.32
KALV	2.83	0.25	0.04	1.45	3.46	(2.79)	6.17	(6.60)	20.72
FDMT	3.55	(0.05)	(0.01)	0.03	5.79	(3.48)	7.15	(9.69)	26.15
EHAB	1.92	0.93	0.47	(0.99)	0.83	(2.40)	7.15	(2.16)	22.93
GOSS	5.15	(2.23)	0.00	(0.42)	0.00	0.00	7.66	(7.87)	94.66
SNDA	1.19	0.08	0.05	0.22	1.06	(1.39)	3.04	(2.09)	8.43
PRTA	2.10	(0.05)	0.00	0.16	0.00	0.00	5.10	(4.36)	14.00
VREX	1.36	0.27	0.19	0.31	1.26	(1.63)	3.69	(2.43)	9.48
AVNS	1.86	0.32	0.13	0.38	2.13	(2.16)	4.79	(2.38)	15.78

Compass Pathways Corporate Management

Guy Goodwin	Chief Officer	Profile
Trevor Mill	Chief Officer	Profile
Christopher Williams	Chief Officer	Profile
Lori MBA	Chief Officer	Profile
MBA MA	Chief Officer	Profile
Anne Benedict	Chief Officer	Profile

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