Compass Diversified Correlations

CODI Stock

USD 23.53 0.09 0.38%

The current 90-days correlation between Compass Diversified and Matthews International is 0.48 (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

Very weak diversification

The correlation between Compass Diversified Holdings and DJI is 0.53 (i.e., Very weak 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

0.69	V	Visa Class A	Pair Corr
0.93	DHIL	Diamond Hill Investment	Pair Corr
0.73	DIST	Distoken Acquisition	Pair Corr
0.73	BN	Brookfield Corp	Pair Corr
0.72	BX	Blackstone Group Normal Trading	Pair Corr
0.84	GS	Goldman Sachs Group Fiscal Year End 21st of January 2025	Pair Corr
0.7	LC	LendingClub Corp	Pair Corr
0.87	MC	Moelis	Pair Corr
0.74	MS	Morgan Stanley Fiscal Year End 21st of January 2025	Pair Corr
0.72	PX	P10 Inc	Pair Corr
0.73	SF	Stifel Financial Earnings Call Tomorrow	Pair Corr
0.87	WT	WisdomTree	Pair Corr
0.74	VCTR	Victory Capital Holdings Normal Trading	Pair Corr
0.7	DUET	DUET Acquisition Corp	Pair Corr
0.73	VIRT	Virtu Financial Fiscal Year End 23rd of January 2025	Pair Corr

Moving against Compass Stock

0.52	WU	Western Union	Pair Corr
0.52	XP	Xp Inc	Pair Corr
0.36	PT	Pintec Technology	Pair Corr
0.53	BRKHW	BurTech Acquisition Corp	Pair Corr
0.47	BRKHU	BurTech Acquisition Corp	Pair Corr
0.39	BRACU	Broad Capital Acquisition	Pair Corr
0.38	EMCGU	Embrace Change Acqui	Pair Corr

Related Correlations Analysis

	MATW	SPLP	VMI	BBU	GFF	TRC	VRTV	MDU	SPLP-PA	CODI-PA
MATW		-0.11	0.29	0.04	0.49	0.07	0.0	0.34	-0.09	-0.13	MATW
SPLP	-0.11		-0.06	0.23	0.22	0.0	0.0	0.15	0.27	-0.2	SPLP
VMI	0.29	-0.06		0.75	0.56	-0.69	0.0	0.91	0.79	-0.65	VMI
BBU	0.04	0.23	0.75		0.69	-0.42	0.0	0.82	0.85	-0.79	BBU
GFF	0.49	0.22	0.56	0.69		-0.25	0.0	0.77	0.52	-0.82	GFF
TRC	0.07	0.0	-0.69	-0.42	-0.25		0.0	-0.64	-0.63	0.52	TRC
VRTV	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	VRTV
MDU	0.34	0.15	0.91	0.82	0.77	-0.64	0.0		0.83	-0.83	MDU
SPLP-PA	-0.09	0.27	0.79	0.85	0.52	-0.63	0.0	0.83		-0.75	SPLP-PA
CODI-PA	-0.13	-0.2	-0.65	-0.79	-0.82	0.52	0.0	-0.83	-0.75		CODI-PA
	MATW	SPLP	VMI	BBU	GFF	TRC	VRTV	MDU	SPLP-PA	CODI-PA

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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

MDU	+ 0.91	VMI
SPLP-PA	+ 0.85	BBU
SPLP-PA	+ 0.83	MDU
MDU	+ 0.82	BBU
SPLP-PA	+ 0.79	VMI
MDU	+ 0.77	GFF

High negative correlations

CODI-PA	- 0.83	MDU
CODI-PA	- 0.82	GFF
CODI-PA	- 0.79	BBU
CODI-PA	- 0.75	SPLP-PA
TRC	- 0.69	VMI
CODI-PA	- 0.65	VMI

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	1.81	0.10	0.12	0.17	1.74	(2.34)	3.20	(3.40)	8.96
SPLP	1.44	0.20	(0.01)	(0.13)	1.98	(2.17)	3.70	(3.66)	15.59
VMI	1.27	0.17	0.13	0.27	1.02	(1.41)	2.65	(2.18)	12.58
BBU	1.53	0.14	0.09	0.25	1.51	(1.63)	3.19	(2.48)	8.49
GFF	1.73	0.20	0.14	0.24	1.73	(1.98)	3.15	(3.12)	22.83
TRC	1.29	(0.33)	0.00	(0.08)	0.00	0.00	2.60	(2.96)	14.35
VRTV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MDU	1.63	0.44	0.24	0.48	1.31	(1.97)	3.97	(2.69)	12.63
SPLP-PA	0.13	0.04	(0.36)	(3.06)	0.00	(0.18)	0.38	(0.21)	1.05
CODI-PA	0.34	(0.11)	0.00	1.58	0.00	0.00	0.71	(0.79)	2.36

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