Hydraulics

Set the compensation at the desired pump pressure and the relief valve at the value you want it to open.

If you set pump compensation higher than relief valve setting, you will not be happy.

The pressure compensatory valve should be set to a pressure no higher the the maximum pressure rating on the devices it's controlling. Just because the cylinder it regulating pressure to can handle 3000 lbs does not mean the the device structure can. See the manual or call the manufacture for those specs. In load bearing equipment adjust it to lift the maximum load listed for the equipment with test weight.

The relief valve can be set to the maximum rated pressure of the hydraulic unit. Specs on that would also be in the manual, stamped on the ID plate or call the manufacture.

In practice the relief valve to save energy should be set 10% higher then compensatory valve. Not to go over the hydraulic unit max pressure rating.