Compass Minerals Correlations

CMP Stock

USD 9.51 0.16 1.65%

The current 90-days correlation between Compass Minerals Int and Materion is 0.3 (i.e., 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

Significant diversification

The correlation between Compass Minerals International and DJI is 0.06 (i.e., Significant 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.

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

Moving together with Compass Stock

0.66	LAC	Lithium Americas Corp	Pair Corr
0.68	LAR	Lithium Argentina Symbol Change	Pair Corr
0.76	NMG	Nouveau Monde Graphite	Pair Corr
0.66	PLL	Piedmont Lithium	Pair Corr
0.71	SLI	Standard Lithium	Pair Corr
0.63	WWR	Westwater Resources	Pair Corr
0.71	IONR	ioneer American	Pair Corr
0.61	NVAWW	Nova Minerals Limited	Pair Corr
0.7	MTRN	Materion	Pair Corr

Moving against Compass Stock

0.54	VALE	Vale SA ADR	Pair Corr
0.46	EMX	EMX Royalty Corp	Pair Corr
0.41	TMQ	Trilogy Metals Earnings Call This Week	Pair Corr
0.33	RIO	Rio Tinto ADR Earnings Call This Week	Pair Corr
0.66	NIOBW	NioCorp Developments	Pair Corr
0.59	MT	ArcelorMittal SA ADR	Pair Corr
0.37	AG	First Majestic Silver	Pair Corr
0.35	AU	AngloGold Ashanti plc	Pair Corr
0.35	DC	Dakota Gold Corp	Pair Corr

Related Correlations Analysis

	SKE	MTRN	IPX	EMX	NEXA	FURY	SMTSF	NMG	ESKYF	SGML
SKE		-0.11	-0.35	0.65	-0.57	0.6	0.0	0.2	0.3	-0.02	SKE
MTRN	-0.11		0.68	-0.49	0.49	-0.29	0.0	0.66	-0.79	-0.18	MTRN
IPX	-0.35	0.68		-0.51	0.7	-0.39	0.0	0.27	-0.72	0.12	IPX
EMX	0.65	-0.49	-0.51		-0.4	0.62	0.0	-0.24	0.64	0.0	EMX
NEXA	-0.57	0.49	0.7	-0.4		-0.44	0.0	-0.06	-0.43	-0.05	NEXA
FURY	0.6	-0.29	-0.39	0.62	-0.44		0.0	0.0	0.25	-0.04	FURY
SMTSF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SMTSF
NMG	0.2	0.66	0.27	-0.24	-0.06	0.0	0.0		-0.48	0.12	NMG
ESKYF	0.3	-0.79	-0.72	0.64	-0.43	0.25	0.0	-0.48		0.19	ESKYF
SGML	-0.02	-0.18	0.12	0.0	-0.05	-0.04	0.0	0.12	0.19		SGML
	SKE	MTRN	IPX	EMX	NEXA	FURY	SMTSF	NMG	ESKYF	SGML

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

NEXA	+ 0.7	IPX
IPX	+ 0.68	MTRN
NMG	+ 0.66	MTRN
EMX	+ 0.65	SKE
ESKYF	+ 0.64	EMX
FURY	+ 0.62	EMX

High negative correlations

ESKYF	- 0.79	MTRN
ESKYF	- 0.72	IPX
NEXA	- 0.57	SKE
EMX	- 0.51	IPX
EMX	- 0.49	MTRN
ESKYF	- 0.48	NMG

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
SKE	2.35	0.23	0.08	0.49	2.66	(2.57)	6.08	(4.54)	17.26
MTRN	1.59	(0.16)	0.00	(0.12)	0.00	0.00	3.45	(3.81)	8.55
IPX	3.43	(0.49)	0.00	1.81	0.00	0.00	5.58	(7.95)	24.21
EMX	1.41	0.37	0.22	1.91	1.23	(1.87)	3.70	(2.23)	8.17
NEXA	3.34	(0.32)	0.00	(0.36)	0.00	0.00	5.50	(7.04)	22.88
FURY	2.28	0.24	0.08	(1.24)	2.24	(4.01)	5.41	(5.00)	18.43
SMTSF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NMG	4.60	0.09	0.02	0.39	5.07	(5.52)	10.69	(8.96)	30.57
ESKYF	5.30	0.89	0.10	(1.29)	5.14	(9.66)	12.50	(11.76)	39.29
SGML	2.22	0.14	0.06	0.30	2.57	(2.42)	7.36	(4.12)	16.82

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