Compass

A Compass is a Redstone-related item which was added in the Update 0.8.0. A Compass is a very useful item, as when held, its needle will always point towards the original spawn point of the Player.

Uses
The main use of the Compass is to point to the world's spawn point. This is very helpful in case the Player gets lost. The Compass only points towards the spawn point of the world, not towards a spawn point set by sleeping.

Crafting

 * 4 Iron Ingots + 1 Redstone (Dust) => Compass

Trivia

 * Since the Compass only points towards the world's original spawn point, players are often forced to create a base near it.
 * Both the Clock and the Compass were added in Update 0.8.0, being the first added Redstone items to Minecraft PE.
 * The Compass has a very similar crafting recipe to that of a Clock, though the Clock uses Gold Ingots instead of Iron Ingots.
 * The Compass will lose its function if used in the Nether, even when the Player returns to the Overworld.