Compass Diversified Correlations

CODI Stock

USD 21.52 0.29 1.37%

The current 90-days correlation between Compass Diversified and Matthews International is 0.43 (i.e., Very weak diversification). The correlation of Compass Diversified 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.

Compass Diversified Correlation With Market

Modest diversification

The correlation between Compass Diversified Holdings and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Compass Diversified Holdings and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Compass Stock

0.65	DHIL	Diamond Hill Investment	Pair Corr
0.65	BX	Blackstone Group	Pair Corr
0.79	RC	Ready Capital Corp	Pair Corr
0.77	WT	WisdomTree Earnings Call Tomorrow	Pair Corr
0.65	VCTR	Victory Capital Holdings Earnings Call This Week	Pair Corr

Moving against Compass Stock

0.54	PT	Pintec Technology	Pair Corr
0.4	AB	AllianceBernstein Earnings Call This Week	Pair Corr
0.78	PWUPW	PowerUp Acquisition Corp	Pair Corr
0.47	EMCGU	Embrace Change Acqui	Pair Corr
0.44	WAVS	Western Acquisition Trending	Pair Corr
0.44	GDSTW	Goldenstone Acquisition	Pair Corr
0.41	BRACU	Broad Capital Acquisition	Pair Corr
0.38	VMCA	Valuence Merger Corp	Pair Corr

Related Correlations Analysis

	MATW	SPLP	VMI	BBU	GFF	TRC	VRTV	MDU	SPLP-PA	CODI-PA
MATW		0.48	0.13	0.08	0.72	-0.32	0.32	0.71	0.75	-0.1	MATW
SPLP	0.48		-0.08	0.28	0.42	-0.29	-0.04	0.52	0.28	-0.43	SPLP
VMI	0.13	-0.08		0.61	0.56	0.49	-0.45	0.48	0.0	-0.11	VMI
BBU	0.08	0.28	0.61		0.53	0.3	-0.78	0.61	-0.21	-0.59	BBU
GFF	0.72	0.42	0.56	0.53		-0.16	-0.11	0.93	0.52	-0.41	GFF
TRC	-0.32	-0.29	0.49	0.3	-0.16		-0.29	-0.12	-0.29	0.25	TRC
VRTV	0.32	-0.04	-0.45	-0.78	-0.11	-0.29		-0.2	0.6	0.48	VRTV
MDU	0.71	0.52	0.48	0.61	0.93	-0.12	-0.2		0.46	-0.52	MDU
SPLP-PA	0.75	0.28	0.0	-0.21	0.52	-0.29	0.6	0.46		0.17	SPLP-PA
CODI-PA	-0.1	-0.43	-0.11	-0.59	-0.41	0.25	0.48	-0.52	0.17		CODI-PA
	MATW	SPLP	VMI	BBU	GFF	TRC	VRTV	MDU	SPLP-PA	CODI-PA

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

MDU	+ 0.93	GFF
SPLP-PA	+ 0.75	MATW
GFF	+ 0.72	MATW
MDU	+ 0.71	MATW
BBU	+ 0.61	VMI
MDU	+ 0.61	BBU

High negative correlations

VRTV	- 0.78	BBU
CODI-PA	- 0.59	BBU
CODI-PA	- 0.52	MDU
VRTV	- 0.45	VMI
CODI-PA	- 0.43	SPLP
CODI-PA	- 0.41	GFF

Risk-Adjusted Indicators

There is a big difference between Compass Stock performing well and Compass Diversified 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 Diversified's 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
MATW	2.17	0.34	0.18	0.35	1.73	(3.17)	5.82	(3.87)	26.99
SPLP	1.95	0.04	(0.02)	0.00	3.36	(2.81)	6.00	(3.70)	29.23
VMI	1.22	(0.01)	(0.04)	0.05	1.42	(1.42)	2.65	(2.02)	11.40
BBU	1.52	(0.12)	0.00	(0.07)	0.00	0.00	3.19	(2.77)	12.93
GFF	1.69	0.23	0.11	0.35	1.70	(1.91)	2.88	(3.57)	22.89
TRC	1.48	(0.05)	0.00	(0.02)	0.00	0.00	3.17	(3.67)	14.35
VRTV	1.91	0.11	0.02	0.83	2.42	(1.84)	3.88	(4.01)	10.84
MDU	1.32	0.08	0.04	0.15	1.54	(1.47)	2.94	(2.15)	11.74
SPLP-PA	0.14	0.02	(0.27)	(1.10)	0.07	(0.18)	0.38	(0.29)	1.48
CODI-PA	0.68	(0.04)	0.00	(0.56)	0.00	0.00	1.72	(1.49)	4.73

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC