Loop Industries Correlations

LOOP Stock

USD 1.24 0.03 2.48%

The current 90-days correlation between Loop Industries and Origin Materials 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

Good diversification

The correlation between Loop Industries and DJI is -0.19 (i.e., Good 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 persons.

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	TSE	Trinseo SA	Pair Corr
0.63	VVV	Valvoline Earnings Call Tomorrow	Pair Corr
0.76	TANH	Tantech Holdings	Pair Corr
0.88	PCTTW	PureCycle Technologies	Pair Corr

Moving against Loop Stock

0.55	CMT	Core Molding Technologies	Pair Corr
0.43	CH	CHARBONE Hydrogen	Pair Corr
0.39	CHE-UN	Chemtrade Logistics	Pair Corr
0.38	BAK	Braskem SA Class	Pair Corr
0.74	HSIC	Henry Schein	Pair Corr
0.73	GIFI	Gulf Island Fabrication	Pair Corr
0.62	CJPRY	Central Japan Railway	Pair Corr
0.6	ANPMF	Andean Precious Metals	Pair Corr
0.55	OKE	ONEOK Inc	Pair Corr
0.55	BANC	Banc of California	Pair Corr
0.52	ATCOL	Atlas Corp	Pair Corr
0.61	BKV	BKV Corporation Downward Rally	Pair Corr
0.52	FRME	First Merchants Normal Trading	Pair Corr

Related Correlations Analysis

	ALTO	ORGN	PZG	NTIC	LGO	TSE	KBSX	NEXM	AGRZ	ATLX
ALTO		-0.78	0.45	0.21	-0.01	-0.93	-0.56	0.06	-0.62	0.12	ALTO
ORGN	-0.78		-0.65	-0.64	-0.38	0.85	0.77	-0.45	0.9	-0.34	ORGN
PZG	0.45	-0.65		0.67	0.59	-0.59	-0.78	0.49	-0.62	0.64	PZG
NTIC	0.21	-0.64	0.67		0.83	-0.36	-0.6	0.68	-0.72	0.62	NTIC
LGO	-0.01	-0.38	0.59	0.83		-0.11	-0.38	0.77	-0.46	0.72	LGO
TSE	-0.93	0.85	-0.59	-0.36	-0.11		0.61	-0.11	0.76	-0.16	TSE
KBSX	-0.56	0.77	-0.78	-0.6	-0.38	0.61		-0.37	0.63	-0.42	KBSX
NEXM	0.06	-0.45	0.49	0.68	0.77	-0.11	-0.37		-0.46	0.66	NEXM
AGRZ	-0.62	0.9	-0.62	-0.72	-0.46	0.76	0.63	-0.46		-0.32	AGRZ
ATLX	0.12	-0.34	0.64	0.62	0.72	-0.16	-0.42	0.66	-0.32		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	+ 0.9	ORGN
TSE	+ 0.85	ORGN
LGO	+ 0.83	NTIC
KBSX	+ 0.77	ORGN
NEXM	+ 0.77	LGO
AGRZ	+ 0.76	TSE

High negative correlations

TSE	- 0.93	ALTO
KBSX	- 0.78	PZG
ORGN	- 0.78	ALTO
AGRZ	- 0.72	NTIC
PZG	- 0.65	ORGN
NTIC	- 0.64	ORGN

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	4.21	1.48	0.36	4.74	3.41	(5.55)	13.41	(6.27)	32.45
ORGN	4.45	(1.80)	0.00	(0.71)	0.00	0.00	6.82	(8.70)	22.98
PZG	3.30	0.86	0.20	(0.91)	3.00	(4.23)	11.11	(4.90)	19.02
NTIC	1.77	0.21	0.09	0.35	1.66	(2.32)	6.66	(3.00)	15.83
LGO	3.70	0.10	0.04	0.09	4.14	(4.16)	9.17	(6.54)	20.11
TSE	6.08	(1.60)	0.00	(0.44)	0.00	0.00	14.58	(11.46)	53.43
KBSX	1.46	(0.47)	0.00	1.65	0.00	0.00	2.72	(4.03)	12.61
NEXM	3.18	(0.07)	0.00	(0.06)	0.00	0.00	6.52	(6.60)	21.46
AGRZ	10.71	(2.27)	0.00	(0.54)	0.00	0.00	22.75	(28.96)	70.40
ATLX	4.37	(0.01)	0.00	0.04	5.52	(4.42)	6.80	(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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