outside loop vs loop-the-loop

outside loop and loop-the-loop both are nouns.

Word	Noun	Adjective	Verb	Adverb
outside loop	Yes	No	No	No
loop-the-loop	Yes	No	No	No

As nouns, loop-the-loop is a hypernym of outside loop; that is, loop-the-loop is a word with a broader meaning than outside loop:

outside loop: a loop consisting of a dive followed by inverted flight followed by a climb that returns to horizontal flight
loop-the-loop: a flight maneuver; aircraft flies a complete circle in the vertical plane

Other hypernyms of outside loop include loop.

outside loop (noun)	loop-the-loop (noun)
a loop consisting of a dive followed by inverted flight followed by a climb that returns to horizontal flight	a flight maneuver; aircraft flies a complete circle in the vertical plane