Loop Industries Correlations

LOOP Stock

USD 1.11 0.01 0.91%

The current 90-days correlation between Loop Industries and Origin Materials is 0.35 (i.e., Weak diversification). The correlation of Loop Industries is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Loop Industries Correlation With Market

Weak diversification

The correlation between Loop Industries and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Loop Industries and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Loop Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Loop Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

To learn how to invest in Loop Stock, please use our How to Invest in Loop Industries guide.

Moving together with Loop Stock

0.8	300796	Bsm Chemical	Pair Corr
0.89	VVV	Valvoline	Pair Corr
0.61	HWKN	Hawkins	Pair Corr
0.65	600722	HeBei Jinniu Chemical	Pair Corr
0.79	5EA	5E Advanced Materials	Pair Corr
0.87	900921	Danhua Chemical Tech	Pair Corr
0.66	300214	Shandong Rike Chemical	Pair Corr
0.66	000819	Yueyang Xingchang Petro	Pair Corr

Moving against Loop Stock

0.87	300478	Hangzhou Gaoxin Rubber	Pair Corr
0.84	002497	Sichuan Yahua Industrial	Pair Corr
0.76	600141	Hubei Xingfa Chemicals	Pair Corr
0.76	300221	Guangdong Silvere Sci	Pair Corr
0.74	000635	Ningxia Younglight	Pair Corr
0.59	000949	Xinxiang Chemical Fiber	Pair Corr
0.56	002584	Xilong Chemical	Pair Corr
0.55	002632	Daoming OpticsChemical	Pair Corr
0.44	MEOH	Methanex	Pair Corr
0.41	688456	GRIPM Advanced Materials	Pair Corr
0.38	603077	Sichuan Hebang Biote	Pair Corr
0.89	ATCOL	Atlas Corp	Pair Corr
0.88	000973	FSPG Hi Tech	Pair Corr
0.85	301092	Zhejiang Zhengguang	Pair Corr
0.8	301059	Jinsanjiang Silicon	Pair Corr
0.79	GPOVF	Grupo Carso SAB	Pair Corr
0.75	002407	Do Fluoride Chemicals	Pair Corr
0.75	CHE-UN	Chemtrade Logistics	Pair Corr
0.7	AMCCF	Amcor plc	Pair Corr
0.67	002895	Guizhou Chanhen Chemical	Pair Corr
0.66	000703	Hengyi Petrochemical	Pair Corr
0.65	600346	Hengli Petrochemical	Pair Corr
0.6	SOLS	Solstice Advanced Symbol Change	Pair Corr
0.51	002709	Guangzhou Tinci Materials	Pair Corr

Related Correlations Analysis

	ALTO	ORGN	PZG	NTIC	LGO	TSE	KBSX	NEXM	AGRZ	ATLX
ALTO		-0.86	0.35	-0.11	-0.57	-0.92	-0.68	-0.66	-0.77	-0.6	ALTO
ORGN	-0.86		-0.32	-0.19	0.41	0.84	0.69	0.54	0.86	0.57	ORGN
PZG	0.35	-0.32		-0.17	0.24	-0.13	-0.13	0.19	-0.11	0.28	PZG
NTIC	-0.11	-0.19	-0.17		0.17	0.03	-0.06	0.08	-0.24	-0.01	NTIC
LGO	-0.57	0.41	0.24	0.17		0.72	0.67	0.85	0.53	0.8	LGO
TSE	-0.92	0.84	-0.13	0.03	0.72		0.73	0.83	0.83	0.76	TSE
KBSX	-0.68	0.69	-0.13	-0.06	0.67	0.73		0.63	0.66	0.57	KBSX
NEXM	-0.66	0.54	0.19	0.08	0.85	0.83	0.63		0.66	0.86	NEXM
AGRZ	-0.77	0.86	-0.11	-0.24	0.53	0.83	0.66	0.66		0.67	AGRZ
ATLX	-0.6	0.57	0.28	-0.01	0.8	0.76	0.57	0.86	0.67		ATLX
	ALTO	ORGN	PZG	NTIC	LGO	TSE	KBSX	NEXM	AGRZ	ATLX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AGRZ	+ 0.86	ORGN
ATLX	+ 0.86	NEXM
NEXM	+ 0.85	LGO
TSE	+ 0.84	ORGN
NEXM	+ 0.83	TSE
AGRZ	+ 0.83	TSE

High negative correlations

TSE	- 0.92	ALTO
ORGN	- 0.86	ALTO
AGRZ	- 0.77	ALTO
KBSX	- 0.68	ALTO
NEXM	- 0.66	ALTO
ATLX	- 0.6	ALTO

Risk-Adjusted Indicators

There is a big difference between Loop Stock performing well and Loop Industries Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Loop Industries' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ALTO	4.28	1.25	0.29	2.75	3.41	(5.82)	13.41	(6.27)	32.45
ORGN	5.21	(1.46)	0.00	(0.39)	0.00	0.00	10.61	(8.70)	27.91
PZG	2.85	(0.01)	0.00	0.11	0.00	0.00	6.48	(5.51)	19.02
NTIC	1.49	0.23	0.10	1.10	1.42	(1.88)	3.71	(2.34)	15.80
LGO	4.66	(0.59)	0.00	(0.12)	0.00	0.00	8.11	(8.40)	65.86
TSE	5.48	(1.93)	0.00	(0.69)	0.00	0.00	11.11	(11.46)	32.69
KBSX	1.81	(0.19)	0.00	(0.89)	0.00	0.00	6.67	(3.55)	16.09
NEXM	3.44	(0.59)	0.00	(0.29)	0.00	0.00	6.52	(6.60)	28.08
AGRZ	12.56	(1.26)	0.00	(1.26)	0.00	0.00	30.23	(28.96)	75.38
ATLX	4.89	(0.29)	0.00	(0.06)	0.00	0.00	9.84	(9.88)	28.48

Loop Industries Corporate Management

Mike Notaris	Vice Development	Profile
Stephen Champagne	Chief Officer	Profile
Adel Essadam	Chief Officer	Profile
Giovanni Catino	Vice Development	Profile

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