Compass Diversified Correlations

CODI Stock

USD 7.31 0.14 1.88%

The current 90-days correlation between Compass Diversified and FTAI Infrastructure is 0.3 (i.e., Weak diversification). The correlation of Compass Diversified 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.

Compass Diversified Correlation With Market

Average diversification

The correlation between Compass Diversified Holdings and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Compass Diversified Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Compass Stock

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

Moving against Compass Stock

0.44	CNNE	Cannae Holdings	Pair Corr
0.35	GBRGW	Goldenbridge Acquisition	Pair Corr
0.54	WARAF	Waraba Gold Limited	Pair Corr

Related Correlations Analysis

	FIP	MATW	TE	FWRD	CRESY	NX	ASPN	ADSE	VSTS	HTLD
FIP		-0.44	0.12	-0.15	0.51	0.12	0.71	0.21	0.82	-0.53	FIP
MATW	-0.44		-0.42	0.43	-0.37	0.01	-0.61	-0.34	-0.53	0.59	MATW
TE	0.12	-0.42		-0.92	-0.34	-0.63	0.6	-0.34	0.0	0.08	TE
FWRD	-0.15	0.43	-0.92		0.27	0.65	-0.63	0.31	-0.05	0.06	FWRD
CRESY	0.51	-0.37	-0.34	0.27		0.67	0.25	0.57	0.65	-0.58	CRESY
NX	0.12	0.01	-0.63	0.65	0.67		-0.27	0.61	0.26	-0.19	NX
ASPN	0.71	-0.61	0.6	-0.63	0.25	-0.27		0.1	0.61	-0.38	ASPN
ADSE	0.21	-0.34	-0.34	0.31	0.57	0.61	0.1		0.45	-0.19	ADSE
VSTS	0.82	-0.53	0.0	-0.05	0.65	0.26	0.61	0.45		-0.54	VSTS
HTLD	-0.53	0.59	0.08	0.06	-0.58	-0.19	-0.38	-0.19	-0.54		HTLD
	FIP	MATW	TE	FWRD	CRESY	NX	ASPN	ADSE	VSTS	HTLD

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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

VSTS	+ 0.82	FIP
ASPN	+ 0.71	FIP
NX	+ 0.67	CRESY
NX	+ 0.65	FWRD
VSTS	+ 0.65	CRESY
ADSE	+ 0.61	NX

High negative correlations

FWRD	- 0.92	TE
ASPN	- 0.63	FWRD
NX	- 0.63	TE
ASPN	- 0.61	MATW
HTLD	- 0.58	CRESY
HTLD	- 0.54	VSTS

Risk-Adjusted Indicators

There is a big difference between Compass Stock performing well and Compass Diversified 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 Diversified's 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
FIP	3.65	(0.36)	0.00	(0.04)	0.00	0.00	7.04	(7.35)	28.84
MATW	1.67	(0.13)	0.00	(0.01)	0.00	0.00	3.93	(2.88)	9.90
TE	6.26	1.72	0.30	1.87	4.67	(7.67)	17.46	(8.90)	41.21
FWRD	2.59	(0.84)	0.00	(0.41)	0.00	0.00	6.11	(5.55)	19.26
CRESY	2.71	0.00	0.02	0.09	2.91	(3.03)	4.82	(4.49)	12.97
NX	2.45	(0.56)	0.00	(0.18)	0.00	0.00	5.18	(5.57)	21.11
ASPN	3.46	(0.09)	0.01	0.05	3.57	(4.37)	7.63	(5.86)	19.47
ADSE	2.82	(0.20)	0.00	(0.44)	0.00	0.00	6.63	(7.06)	19.79
VSTS	2.67	(0.42)	0.00	(0.09)	0.00	0.00	5.41	(6.58)	13.00
HTLD	1.88	(0.23)	0.00	(0.02)	0.00	0.00	4.71	(3.80)	12.07

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