Compass Minerals Correlations

CMP Stock

USD 19.79 0.27 1.35%

The current 90-days correlation between Compass Minerals Int and Skeena Resources is 0.02 (i.e., Significant 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

Modest diversification

The correlation between Compass Minerals International and DJI is 0.22 (i.e., Modest 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.

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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

0.75	VZLA	Vizsla Resources Corp	Pair Corr
0.82	FMST	Foremost Lithium Resource	Pair Corr
0.71	EMX	EMX Royalty Corp	Pair Corr
0.62	GSM	Ferroglobe PLC	Pair Corr
0.8	IPX	IperionX Limited American	Pair Corr
0.61	NMG	Nouveau Monde Graphite	Pair Corr
0.76	SKE	Skeena Resources	Pair Corr
0.83	SLI	Standard Lithium	Pair Corr
0.85	TMC	TMC the metals Trending	Pair Corr
0.87	TMCWW	TMC the metals Buyout Trend	Pair Corr
0.77	ABAT	American Battery Tec	Pair Corr

Moving against Compass Stock

0.85	GRO	Brazil Potash Corp	Pair Corr
0.68	LGO	Largo Resources	Pair Corr
0.59	TMQ	Trilogy Metals	Pair Corr
0.52	LAR	Lithium Argentina Symbol Change	Pair Corr
0.4	ELBM	Electra Battery Materials	Pair Corr
0.91	NEXA	Nexa Resources SA	Pair Corr
0.84	LITM	Snow Lake Resources	Pair Corr
0.82	SGML	Sigma Lithium Resources	Pair Corr
0.62	USGOW	US GoldMining Warrant	Pair Corr
0.56	CC	Chemours	Pair Corr
0.44	IONR	ioneer American	Pair Corr
0.31	WWR	Westwater Resources	Pair Corr

Related Correlations Analysis

	SKE	MTRN	IPX	EMX	NEXA	FURY	SMTSF	NMG	ESKYF	SGML
SKE		-0.11	0.88	0.93	-0.76	0.74	0.0	0.59	0.35	-0.76	SKE
MTRN	-0.11		0.09	0.0	0.26	0.12	0.0	0.02	0.2	0.57	MTRN
IPX	0.88	0.09		0.85	-0.82	0.73	0.0	0.54	0.41	-0.63	IPX
EMX	0.93	0.0	0.85		-0.68	0.71	0.0	0.48	0.21	-0.73	EMX
NEXA	-0.76	0.26	-0.82	-0.68		-0.59	0.0	-0.48	-0.19	0.77	NEXA
FURY	0.74	0.12	0.73	0.71	-0.59		0.0	0.15	0.53	-0.46	FURY
SMTSF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SMTSF
NMG	0.59	0.02	0.54	0.48	-0.48	0.15	0.0		0.04	-0.41	NMG
ESKYF	0.35	0.2	0.41	0.21	-0.19	0.53	0.0	0.04		0.0	ESKYF
SGML	-0.76	0.57	-0.63	-0.73	0.77	-0.46	0.0	-0.41	0.0		SGML
	SKE	MTRN	IPX	EMX	NEXA	FURY	SMTSF	NMG	ESKYF	SGML

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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

EMX	+ 0.93	SKE
IPX	+ 0.88	SKE
EMX	+ 0.85	IPX
SGML	+ 0.77	NEXA
FURY	+ 0.74	SKE
FURY	+ 0.73	IPX

High negative correlations

NEXA	- 0.82	IPX
SGML	- 0.76	SKE
NEXA	- 0.76	SKE
SGML	- 0.73	EMX
NEXA	- 0.68	EMX
SGML	- 0.63	IPX

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	2.95	0.56	0.17	2.03	2.75	(3.54)	7.55	(4.33)	20.07
MTRN	1.85	(0.13)	0.00	(0.12)	0.00	0.00	3.44	(3.59)	16.35
IPX	4.74	0.68	0.17	0.59	3.90	(6.66)	13.02	(6.78)	24.44
EMX	2.07	0.37	0.14	1.61	2.33	(2.30)	4.55	(3.90)	12.08
NEXA	1.65	(0.24)	0.00	(0.60)	0.00	0.00	2.72	(3.56)	13.01
FURY	2.28	0.37	0.11	2.79	1.90	(4.86)	5.56	(3.64)	22.63
SMTSF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NMG	3.40	0.13	0.04	0.52	3.09	(5.01)	9.70	(5.43)	15.92
ESKYF	5.37	0.83	0.10	1.07	5.29	(8.78)	11.76	(11.11)	24.26
SGML	3.99	(1.25)	0.00	(0.61)	0.00	0.00	7.97	(8.97)	26.45

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