Loop Industries Correlations

LOOP Stock

USD 1.32 0.02 1.54%

The current 90-days correlation between Loop Industries and Northern Technologies is 0.16 (i.e., Average 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

Very weak diversification

The correlation between Loop Industries and DJI is 0.59 (i.e., Very 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

0.83	229	PCC ROKITA SA	Pair Corr
0.71	ZTF	Zotefoams PLC	Pair Corr
0.76	BRD	BRASKEM PFD ADR2	Pair Corr
0.76	NP7	Nippon Kayaku	Pair Corr
0.72	CXL	CALIX	Pair Corr
0.76	DIK	Denka Limited	Pair Corr
0.83	WLKP	Westlake Chemical	Pair Corr
0.67	NPX	NIPPON SANSO HOLDINGS	Pair Corr
0.8	BAS	BASF SE Earnings Call This Week	Pair Corr
0.82	KUY	Kuraray	Pair Corr
0.85	G3V	Green Plains	Pair Corr
0.84	BAK	Braskem SA Class	Pair Corr
0.73	CBT	Cabot	Pair Corr
0.86	DOW	Dow Inc	Pair Corr
0.83	KOP	Koppers Holdings Earnings Call Tomorrow	Pair Corr
0.87	KRO	Kronos Worldwide	Pair Corr
0.89	LYB	LyondellBasell Industries	Pair Corr
0.71	OEC	Orion Engineered Carbons	Pair Corr
0.76	OLN	Olin	Pair Corr
0.86	VVV	Valvoline	Pair Corr
0.76	WLK	Westlake Chemical Buyout Trend	Pair Corr
0.79	LIN	Linde plc	Pair Corr
0.68	KEM	Kemira Oyj	Pair Corr
0.67	NSC	Nissan Chemical	Pair Corr

Moving against Loop Stock

0.87	OB8	PT Barito Pacific	Pair Corr
0.74	SDV	Scidev Earnings Call Today	Pair Corr
0.62	NHE	Noble Helium	Pair Corr
0.47	X2Z	SKOTAN SA ZY	Pair Corr
0.37	FMST	Foremost Lithium Resource	Pair Corr
0.81	ALBKK	Baikowski SASU	Pair Corr
0.42	TSE	Trinseo SA	Pair Corr
0.39	1V5	GAZOTY ZAKAZPULB ZY10	Pair Corr

Related Correlations Analysis

	ALTO	ORGN	PZG	NTIC	LGO	TSE	KBSX	NEXM	AGRZ	ATLX
ALTO		-0.4	0.02	0.11	0.16	-0.39	-0.02	0.3	-0.22	-0.04	ALTO
ORGN	-0.4		-0.65	-0.8	-0.71	0.81	0.74	-0.28	0.91	-0.21	ORGN
PZG	0.02	-0.65		0.62	0.85	-0.69	-0.83	-0.17	-0.59	0.14	PZG
NTIC	0.11	-0.8	0.62		0.78	-0.61	-0.69	0.39	-0.81	0.54	NTIC
LGO	0.16	-0.71	0.85	0.78		-0.63	-0.67	0.1	-0.7	0.37	LGO
TSE	-0.39	0.81	-0.69	-0.61	-0.63		0.61	-0.04	0.76	0.04	TSE
KBSX	-0.02	0.74	-0.83	-0.69	-0.67	0.61		0.02	0.63	-0.17	KBSX
NEXM	0.3	-0.28	-0.17	0.39	0.1	-0.04	0.02		-0.35	0.68	NEXM
AGRZ	-0.22	0.91	-0.59	-0.81	-0.7	0.76	0.63	-0.35		-0.29	AGRZ
ATLX	-0.04	-0.21	0.14	0.54	0.37	0.04	-0.17	0.68	-0.29		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	+ 0.91	ORGN
LGO	+ 0.85	PZG
TSE	+ 0.81	ORGN
LGO	+ 0.78	NTIC
AGRZ	+ 0.76	TSE
KBSX	+ 0.74	ORGN

High negative correlations

KBSX	- 0.83	PZG
AGRZ	- 0.81	NTIC
NTIC	- 0.8	ORGN
LGO	- 0.71	ORGN
AGRZ	- 0.7	LGO
KBSX	- 0.69	NTIC

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	3.55	0.25	0.06	0.33	3.78	(4.27)	8.95	(6.27)	23.99
ORGN	4.55	(1.90)	0.00	(0.48)	0.00	0.00	6.82	(8.70)	30.08
PZG	4.12	1.46	0.28	(1.25)	3.28	(5.23)	13.11	(5.56)	33.96
NTIC	1.88	0.22	0.09	0.58	1.69	(2.32)	5.26	(3.14)	13.02
LGO	4.26	0.52	0.14	0.24	4.80	(4.99)	11.31	(6.80)	38.51
TSE	6.46	(1.74)	0.00	(0.34)	0.00	0.00	14.58	(15.38)	53.43
KBSX	2.35	(0.27)	0.00	(0.79)	0.00	0.00	7.55	(4.29)	31.99
NEXM	3.47	0.14	0.02	0.40	4.14	(3.76)	8.60	(7.27)	21.46
AGRZ	9.34	(1.93)	0.00	(0.46)	0.00	0.00	17.93	(23.08)	70.40
ATLX	4.50	(0.05)	0.01	0.07	5.59	(4.53)	7.11	(9.47)	27.79

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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