A electrical connector includes a housing and a plurality of contacts within the housing configured for mating engagement with mating contacts of a mating connector. The electrical connector also includes a compensation component housed within the housing. The compensation component has a substrate with a first trace plane and a second trace plane, and the compensation component has a plurality of traces arranged on the first trace plane. The traces are electrically connected to selected ones of the contacts. At least one of the traces includes a compensation loop arranged on the first trace plane, and at least one of the traces includes a compensation loop arranged on the second trace plane. The compensation loop provides at least one of electrical and thermal compensation.