LOOP vs MGX: Correlation
Loop Industries, Inc. (LOOP) and Metagenomi Therapeutics, Inc. (MGX) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOOP and MGX?
On 3 years of weekly data the LOOP/MGX correlation comes out at 0.31, moderate. The relationship has been stable: the 1-year correlation (0.38) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 2006.7 %².
By 3-year correlation, MGX places #4 of the 11 assets tracked against LOOP. The last year tells two different stories: MGX led by 28.0 percentage points, -62.9% for LOOP against -34.9% for MGX.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
LOOP vs MGX: side by side
| LOOP (Loop Industries, Inc.) | MGX (Metagenomi Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -62.9% | -34.9% |
| 5-year return | -93.8% | n/a |
| Volatility (ann.) | 73.7% | 86.5% |
| Beta vs S&P 500 | 0.96 | 1.23 |
| Max drawdown (3Y) | -87.5% | -90.7% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LOOP | MGX |
|---|---|---|
| 2022 | -80.5% | – |
| 2023 | +58.2% | – |
| 2024 | -68.3% | – |
| 2025 | -16.7% | -55.1% |
| 2026 | -44.3% | -25.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOOP and MGX good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LOOP and MGX?
The LOOP/MGX correlation stands at 0.31 on a 3-year window (1 year: 0.38, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MGX a good diversifier for LOOP?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/loop-vs-mgx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/loop-vs-mgx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LOOP correlations · MGX correlations
