Home made escape compass by aircrew??

Hi Guy's, would this be a home made compass for use by aircrew? It was found during an aircraft recovery operation but it doesnt appear to me to be a standard a RAF RCAF issue item note the hand painted letters??? Also it has a compass face on both sides...

IMO this compass would have been a private purchase item and very probably custom made perhaps by a jeweler of the time worn as a necklace or possibly a watch fob
I could not think of a better good luck token perhaps given by a loved one so that the airman would not lose his way.

Regards Mark