If this is a new bow, your string is breaking in, and often times it'll rotate until it is broken in & stretched. It often takes up to 100 shots.
Mostrelease loop materialsare notdesigned to be so tight it can be used as a peep aligner. On my bow I use the T.R.U. speed loop, and peep aligner. Its a small plastic nock piece, and a reg. string loop over it.