Loop Industries Correlations

LOOP Stock

USD 1.31 0.08 6.50%

The current 90-days correlation between Loop Industries and Northern Technologies is -0.09 (i.e., Good 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 -0.05 (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

0.67	ODC	Oil Dri	Pair Corr
0.62	SSL	Sasol	Pair Corr

Moving against Loop Stock

0.42	FEAM	5E Advanced Materials	Pair Corr
0.62	KRO	Kronos Worldwide	Pair Corr
0.39	WLK	Westlake Chemical	Pair Corr
0.71	AXTA	Axalta Coating Systems	Pair Corr
0.49	IOSP	Innospec	Pair Corr

Related Correlations Analysis

	FUL	ESI	IOSP	CBT	MTX	KWR	SXT	AVNT	SCL	ODC
FUL		0.88	-0.08	0.3	0.45	0.86	0.78	0.06	0.74	0.73	FUL
ESI	0.88		-0.11	-0.04	0.39	0.83	0.93	0.34	0.9	0.79	ESI
IOSP	-0.08	-0.11		0.31	0.0	-0.27	-0.04	0.18	0.01	-0.46	IOSP
CBT	0.3	-0.04	0.31		0.17	0.22	-0.08	-0.46	-0.11	-0.05	CBT
MTX	0.45	0.39	0.0	0.17		0.31	0.2	0.39	0.44	0.3	MTX
KWR	0.86	0.83	-0.27	0.22	0.31		0.76	0.05	0.73	0.85	KWR
SXT	0.78	0.93	-0.04	-0.08	0.2	0.76		0.29	0.91	0.78	SXT
AVNT	0.06	0.34	0.18	-0.46	0.39	0.05	0.29		0.45	0.09	AVNT
SCL	0.74	0.9	0.01	-0.11	0.44	0.73	0.91	0.45		0.78	SCL
ODC	0.73	0.79	-0.46	-0.05	0.3	0.85	0.78	0.09	0.78		ODC
	FUL	ESI	IOSP	CBT	MTX	KWR	SXT	AVNT	SCL	ODC

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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

SXT	+ 0.93	ESI
SCL	+ 0.91	SXT
SCL	+ 0.9	ESI
ESI	+ 0.88	FUL
KWR	+ 0.86	FUL
ODC	+ 0.85	KWR

High negative correlations

AVNT	- 0.46	CBT
ODC	- 0.46	IOSP
KWR	- 0.27	IOSP
SCL	- 0.11	CBT
IOSP	- 0.11	ESI
SXT	- 0.08	CBT

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
FUL	1.55	0.22	0.06	(6.36)	1.43	(1.92)	3.43	(2.56)	13.34
ESI	1.66	0.53	0.20	(1.13)	1.44	(2.04)	3.98	(2.86)	11.49
IOSP	1.08	(0.17)	0.00	(0.08)	0.00	0.00	2.47	(2.76)	6.32
CBT	1.21	(0.21)	0.00	(0.07)	0.00	0.00	2.74	(2.42)	9.23
MTX	1.62	(0.13)	(0.04)	0.02	2.46	(1.65)	3.12	(3.37)	12.14
KWR	1.91	0.29	0.06	(0.77)	1.75	(2.33)	4.98	(3.47)	15.11
SXT	1.23	0.52	0.58	1.07	0.00	(1.58)	4.75	(1.08)	15.95
AVNT	1.64	0.14	(0.01)	(0.61)	1.79	(1.82)	3.91	(3.51)	10.10
SCL	1.61	0.10	0.08	0.21	1.43	(1.93)	3.97	(2.58)	10.46
ODC	1.47	0.44	0.23	0.64	1.30	(1.70)	3.13	(2.74)	12.23

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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