Correlation Between Compass and CleanSpark
Can any of the company-specific risk be diversified away by investing in both Compass and CleanSpark at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Compass and CleanSpark into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Compass and CleanSpark, you can compare the effects of market volatilities on Compass and CleanSpark and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Compass with a short position of CleanSpark. Check out your portfolio center. Please also check ongoing floating volatility patterns of Compass and CleanSpark.
Diversification Opportunities for Compass and CleanSpark
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Compass and CleanSpark is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Compass and CleanSpark in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CleanSpark and Compass is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Compass are associated (or correlated) with CleanSpark. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CleanSpark has no effect on the direction of Compass i.e., Compass and CleanSpark go up and down completely randomly.
Pair Corralation between Compass and CleanSpark
Given the investment horizon of 90 days Compass is expected to generate 0.44 times more return on investment than CleanSpark. However, Compass is 2.26 times less risky than CleanSpark. It trades about 0.15 of its potential returns per unit of risk. CleanSpark is currently generating about -0.04 per unit of risk. If you would invest 822.00 in Compass on September 27, 2025 and sell it today you would earn a total of 234.00 from holding Compass or generate 28.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Compass vs. CleanSpark
Performance |
| Timeline |
| Compass |
| CleanSpark |
Compass and CleanSpark Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Compass and CleanSpark
The main advantage of trading using opposite Compass and CleanSpark positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Compass position performs unexpectedly, CleanSpark can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in CleanSpark will offset losses from the drop in CleanSpark's long position.| Compass vs. Via Transportation, | Compass vs. Zeta Global Holdings | Compass vs. Navan, Class A | Compass vs. Global Business Travel |
| CleanSpark vs. Bitdeer Technologies Group | CleanSpark vs. Clearwater Analytics Holdings | CleanSpark vs. ACI Worldwide | CleanSpark vs. Webull Corp |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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