LOOP vs TLF: Correlation
Loop Industries, Inc. (LOOP) and Tandy Leather Factory, Inc. (TLF) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOOP and TLF?
On 3 years of weekly data the LOOP/TLF correlation comes out at 0.34, moderate. Recent behaviour matches the longer record: 0.33 over 1 year against 0.34 over 3. The 5-year figure is 0.20, and annualized covariance runs at 661.0 %².
In LOOP's tracked universe of 11 assets, TLF sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months TLF outperformed by 74.9 percentage points (-62.9% for LOOP against +12.0% for TLF). One caveat on sizing: LOOP is 2.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 TLF: side by side
| LOOP (Loop Industries, Inc.) | TLF (Tandy Leather Factory, Inc.) | |
|---|---|---|
| 1-year return | -62.9% | +12.0% |
| 5-year return | -93.8% | +11.5% |
| Volatility (ann.) | 73.7% | 26.5% |
| Beta vs S&P 500 | 0.96 | 0.23 |
| Max drawdown (3Y) | -87.5% | -34.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LOOP | TLF |
|---|---|---|
| 2022 | -80.5% | -17.5% |
| 2023 | +58.2% | +0.2% |
| 2024 | -68.3% | +12.4% |
| 2025 | -16.7% | -20.9% |
| 2026 | -44.3% | +28.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOOP and TLF good diversifiers for each other?
Reasonably. At 0.34, LOOP and TLF keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LOOP and TLF?
The LOOP/TLF correlation stands at 0.34 on a 3-year window (1 year: 0.33, 5 years: 0.20), computed from weekly returns as of 2026-08-27.
Is TLF a good diversifier for LOOP?
Reasonably. At 0.34, LOOP and TLF keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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-tlf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/loop-vs-tlf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LOOP correlations · TLF correlations
