Compass Pathways Correlations

CMPS Stock

USD 4.45 0.30 7.23%

The current 90-days correlation between Compass Pathways Plc and InnovAge Holding Corp is 0.13 (i.e., Average 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

Good diversification

The correlation between Compass Pathways Plc and DJI is -0.09 (i.e., Good 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.

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 american community survey.

Moving together with Compass Stock

0.61	CI	Cigna Corp	Pair Corr
0.74	VERO	Venus Concept	Pair Corr
0.69	DRIO	DarioHealth Corp	Pair Corr
0.71	EDAP	EDAP TMS SA	Pair Corr
0.93	EKSO	Ekso Bionics Holdings	Pair Corr
0.93	ELAB	Elevai Labs, Common	Pair Corr
0.65	ENSG	Ensign Group	Pair Corr
0.74	AMN	AMN Healthcare Services	Pair Corr
0.65	AWH	Aspira Womens Health	Pair Corr
0.77	BKD	Brookdale Senior Living	Pair Corr
0.64	CCM	Concord Medical Services	Pair Corr
0.83	CHE	Chemed Corp	Pair Corr

Moving against Compass Stock

0.81	ELMD	Electromed	Pair Corr
0.79	OM	Outset Medical Earnings Call This Week	Pair Corr
0.75	VREX	Varex Imaging Corp	Pair Corr
0.74	ECOR	Electrocore LLC	Pair Corr
0.73	GH	Guardant Health	Pair Corr
0.73	DOCS	Doximity	Pair Corr
0.69	VVOS	Vivos Therapeutics	Pair Corr
0.61	EHAB	Enhabit	Pair Corr
0.57	LH	Laboratory	Pair Corr
0.56	MD	Mednax Inc	Pair Corr
0.54	DXCM	DexCom Inc	Pair Corr
0.47	EW	Edwards Lifesciences Corp	Pair Corr
0.31	VEEV	Veeva Systems Class	Pair Corr
0.7	EMBC	Embecta Corp	Pair Corr
0.66	ENOV	Enovis Corp	Pair Corr
0.55	CAH	Cardinal Health	Pair Corr
0.44	XAIR	Beyond Air	Pair Corr

Related Correlations Analysis

	INNV	AGL	USPH	EHAB	ENSG	CCRN	AMED	ACHC	ADUS
INNV		0.66	-0.52	-0.49	0.86	-0.6	0.82	0.63	0.29	INNV
AGL	0.66		-0.69	-0.38	0.43	-0.04	0.73	0.92	0.55	AGL
USPH	-0.52	-0.69		0.72	-0.35	0.14	-0.71	-0.75	-0.48	USPH
EHAB	-0.49	-0.38	0.72		-0.45	0.56	-0.69	-0.51	-0.26	EHAB
ENSG	0.86	0.43	-0.35	-0.45		-0.69	0.62	0.43	0.06	ENSG
CCRN	-0.6	-0.04	0.14	0.56	-0.69		-0.53	-0.09	0.1	CCRN
AMED	0.82	0.73	-0.71	-0.69	0.62	-0.53		0.74	0.42	AMED
ACHC	0.63	0.92	-0.75	-0.51	0.43	-0.09	0.74		0.51	ACHC
ADUS	0.29	0.55	-0.48	-0.26	0.06	0.1	0.42	0.51		ADUS
	INNV	AGL	USPH	EHAB	ENSG	CCRN	AMED	ACHC	ADUS

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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

ACHC	+ 0.92	AGL
ENSG	+ 0.86	INNV
AMED	+ 0.82	INNV
ACHC	+ 0.74	AMED
AMED	+ 0.73	AGL
EHAB	+ 0.72	USPH

High negative correlations

ACHC	- 0.75	USPH
AMED	- 0.71	USPH
CCRN	- 0.69	ENSG
AMED	- 0.69	EHAB
USPH	- 0.69	AGL
CCRN	- 0.6	INNV

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
INNV	2.48	(0.48)	0.00	(0.96)	0.00	0.00	4.23	(5.51)	22.49
AGL	5.06	(0.56)	0.00	(5.53)	0.00	0.00	10.05	(9.70)	42.75
USPH	1.46	0.12	0.07	3.21	1.39	(1.85)	3.06	(2.66)	20.34
EHAB	1.71	0.09	0.03	0.31	1.98	(2.11)	4.08	(3.85)	17.54
ENSG	0.95	(0.14)	0.00	(0.58)	0.00	0.00	2.32	(1.66)	10.08
CCRN	3.11	0.89	0.24	(0.99)	2.78	(4.02)	6.11	(3.12)	63.44
AMED	0.65	(0.08)	0.00	2.02	0.00	0.00	0.94	(1.78)	7.27
ACHC	2.13	(0.47)	0.00	(1.52)	0.00	0.00	4.60	(3.91)	21.88
ADUS	1.29	(0.04)	0.00	0.26	0.00	0.00	2.88	(2.51)	8.16

Compass Pathways Corporate Management

Guy Goodwin	Chief Officer	Profile
Trevor Mill	Chief Officer	Profile
Christopher Williams	Chief Officer	Profile
MBA MA	Chief Officer	Profile
Anne Benedict	Chief Officer	Profile

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