You can use a new "Backtrack" feature if you have a Series 6 or later. Backtrack uses GPS to record the path that you take, so if you get lost, you can find your way back later. watchOS 9 is available on the Apple Watch Series 4 and later, and it can be downloaded now.
This is actually quite useful for if you have no other GPS device (or it has died), to be able to instantly do a backtrack without having done any prior setup or preparation.
It's just a pity that of course an Apple Watch does not have terrific battery life (as in a week). But that said, I do get two days of use out of mine, and this is not something you'd have to have on the whole time (get your bearings, and glance at it once in a while). It is really intended as a backup when all else has failed.
See
watchOS 9 Brings Updated Compass App With Waypoints and Backtracktechnology #
AppleWatch #
backtrack #
navigation #
compass 
Apple with the introduction of the Apple Watch Ultra showed off a redesigned and more expansive Compass app, which, as it turns out, is available to...
