Compass Minerals Correlations
| CMP Stock | USD 17.74 0.72 4.23% |
The current 90-days correlation between Compass Minerals Int and Nexa Resources SA is 0.4 (i.e., Very 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
Very weak diversification
The correlation between Compass Minerals International and DJI is 0.49 (i.e., Very weak 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.
Moving together with Compass Stock
| 0.61 | MP | MP Materials Corp | PairCorr |
| 0.63 | VML | Viscount Mining Corp Earnings Call This Week | PairCorr |
| 0.73 | AZY | Antipa Minerals | PairCorr |
| 0.61 | 3PLAND | 3P Land Holdings | PairCorr |
Moving against Compass Stock
| 0.65 | VDO-H | Nevado Resources Earnings Call This Week | PairCorr |
| 0.66 | ALS | Altius Minerals | PairCorr |
| 0.52 | NOB | Noble Mineral Exploration | PairCorr |
| 0.5 | CVV | Caravel Minerals | PairCorr |
| 0.63 | 601121 | Xinjiang Baodi Mining | PairCorr |
| 0.5 | HTM | High Tech Metals | PairCorr |
| 0.47 | IMI | Infinity Mining | PairCorr |
| 0.41 | RB6 | RUBIX Resources | PairCorr |
| 0.4 | RAU | Resouro Strategic Metals | PairCorr |
| 0.35 | BOC | Bougainville Copper | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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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 | 1.98 | 0.37 | 0.17 | 0.44 | 1.73 | 6.50 | 14.11 | |||
| GTI | 6.80 | (2.27) | 0.00 | (1.30) | 0.00 | 8.63 | 153.22 | |||
| LAR | 4.53 | 0.96 | 0.17 | (6.15) | 4.59 | 11.63 | 36.13 | |||
| ABAT | 8.68 | 0.96 | 0.11 | 0.22 | 9.51 | 22.89 | 73.24 | |||
| NB | 5.45 | 0.52 | 0.07 | 0.42 | 7.14 | 12.20 | 34.42 | |||
| NMG | 5.16 | 0.65 | 0.12 | 0.23 | 5.72 | 13.28 | 70.67 | |||
| SGML | 6.00 | 1.04 | 0.15 | 0.75 | 6.24 | 11.46 | 42.60 | |||
| IAUX | 2.94 | 0.51 | 0.12 | 0.75 | 3.68 | 6.12 | 19.07 | |||
| ODC | 1.51 | (0.06) | 0.00 | 0.20 | 0.00 | 2.31 | 13.98 | |||
| GSM | 2.59 | (0.09) | 0.00 | (0.01) | 0.00 | 5.52 | 19.56 |