Compass Pathways Correlations

CMPS Stock

USD 6.19 0.48 8.41%

The current 90-days correlation between Compass Pathways Plc and Community Health Systems is -0.21 (i.e., Very 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 0.79 (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 persons.

Moving together with Compass Stock

0.75	NPTH	NeuPath Health	Pair Corr
0.66	EHAB	Enhabit	Pair Corr
0.77	AGL	agilon health	Pair Corr

Moving against Compass Stock

0.76	UHS	Universal Health Services	Pair Corr
0.74	S00	Spire Healthcare	Pair Corr
0.69	SPI	Spire Healthcare	Pair Corr
0.65	REG	Regis Healthcare	Pair Corr
0.45	FMS	Fresenius Medical Care	Pair Corr
0.83	ATPC	Agape ATP	Pair Corr
0.75	BZ7A	Bumrungrad Hospital	Pair Corr
0.7	BMGL	Basel Medical Group	Pair Corr
0.62	4WK	Wenzhou Kangning Hospital	Pair Corr
0.59	NLH	Nova Leap Health	Pair Corr
0.46	A41	Addus HomeCare	Pair Corr
0.45	ADUS	Addus HomeCare	Pair Corr
0.42	NAKA	Kindly MD Earnings Call This Week	Pair Corr
0.37	8HX	AKSO HEALTH GR	Pair Corr

Related Correlations Analysis

	CYH	TALK	KALV	FDMT	EHAB	GOSS	SNDA	PRTA	VREX	AVNS
CYH		-0.3	-0.49	0.39	-0.33	-0.13	-0.53	0.52	-0.2	-0.34	CYH
TALK	-0.3		0.38	-0.75	0.75	-0.49	0.26	-0.75	0.88	0.71	TALK
KALV	-0.49	0.38		-0.41	0.64	0.4	0.31	-0.35	0.29	0.29	KALV
FDMT	0.39	-0.75	-0.41		-0.58	0.31	-0.32	0.74	-0.6	-0.33	FDMT
EHAB	-0.33	0.75	0.64	-0.58		-0.15	0.21	-0.62	0.79	0.76	EHAB
GOSS	-0.13	-0.49	0.4	0.31	-0.15		0.12	0.38	-0.58	-0.41	GOSS
SNDA	-0.53	0.26	0.31	-0.32	0.21	0.12		-0.34	0.13	0.27	SNDA
PRTA	0.52	-0.75	-0.35	0.74	-0.62	0.38	-0.34		-0.62	-0.52	PRTA
VREX	-0.2	0.88	0.29	-0.6	0.79	-0.58	0.13	-0.62		0.81	VREX
AVNS	-0.34	0.71	0.29	-0.33	0.76	-0.41	0.27	-0.52	0.81		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

VREX	+ 0.88	TALK
AVNS	+ 0.81	VREX
VREX	+ 0.79	EHAB
AVNS	+ 0.76	EHAB
EHAB	+ 0.75	TALK
PRTA	+ 0.74	FDMT

High negative correlations

PRTA	- 0.75	TALK
FDMT	- 0.75	TALK
VREX	- 0.62	PRTA
PRTA	- 0.62	EHAB
VREX	- 0.6	FDMT
VREX	- 0.58	GOSS

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	2.19	(0.40)	0.00	(0.17)	0.00	0.00	4.91	(4.88)	15.66
TALK	2.24	0.17	0.08	0.19	2.53	(2.53)	4.35	(4.72)	13.51
KALV	3.31	0.47	0.12	0.45	3.47	(3.47)	8.43	(6.60)	25.15
FDMT	4.04	(0.31)	0.00	(0.14)	0.00	0.00	7.04	(9.69)	27.09
EHAB	1.67	0.43	0.20	1.15	1.54	(1.93)	4.81	(2.53)	11.79
GOSS	4.11	(0.01)	(0.01)	0.06	4.95	(4.28)	8.77	(7.10)	27.11
SNDA	1.49	0.41	0.31	0.70	0.76	(1.87)	5.62	(2.09)	17.41
PRTA	2.42	(0.36)	0.00	(0.12)	0.00	0.00	5.10	(4.47)	14.00
VREX	1.62	0.15	0.05	0.20	3.00	(1.67)	3.76	(2.67)	17.42
AVNS	1.74	0.33	0.17	0.37	1.69	(2.14)	4.79	(3.06)	9.85

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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