Doubtful. Daimon can match Thor on all levels except physicals.
He fights smarter than Thor (except when emotion rules him).
He is more likely to go all out than Thor (who often holds back for innocents, where Daimon only considers innocents usually AFTER he's done the act)
In physicals Daimon is only just over 100 Tonner where Thor has much higher stats than that.
Daimon has slightly less physical durability, though he has feats that would place him higher in endurance to energy projection.
He is easily a match for Thor in energy manip etc and on psychic levels (feats like defeating Mind star).
He more readily employs his abilities of magic and his variety of attacks where Thor prefers physical combat.
The one thing that Loki has over Thor is his trickery. This is the only thing that gives him wins or potential wins over Thor. In trickery Hellstrom has feats to match. Feats like tricking hell lords to fight each other to weaken their position and strengthen his ( Tricked Dormammu and Satunus into teaming up against mephisto), as well as outmaneuvering multiple hell lord Sky father beings. Example of the second is when Satan had set up to aid Horus and his mother in resurrecting Osiris so that he would return to the world of the living and leave his domain below free for the plunder. Daimon played the part his father had intended for him all the while planning a double cross that thwarted everyone. He had secretly found the last part of Osiris himself and performed the ritual without the others present. he then killed Osiris again took his heart and secured it in a safety deposit box throwing away the key to enure none could ever restore him to life again. He had figured out everyone else's angles and plays and countered them all.
Trickery against Hellstrom won't get Loki a win and that is his default win method.
Loki has more intricate spells yes, but the level of magical power he wields is wield a bit below that wielded by Hellstrom. For example in magic to best Doom he needed intricacy in spellcraft and trickery rather than power. Hellstrom has examples of the level of his power being above that of Strange when SS. For one thing his magic could see through deceptions that Strange himself couldn't without casting counter spells. He was the one in Avengers who could contain Dormammu (admittedly he needed Strange to shield him from Dorm's attacks while he cast the spell) where Strange has failed to do so.
I have no doubt that Loki could work more creative magic, that is a given his creativity for using magic to create science alone is amazing and outside what anyone else (yes all you Doom fanboys even Doom) pulls off. But without the Norn stones (which I wouldn't classify as standard gear personally) his magical power level is a few notches below Daimon.
If prep were involved Loki would easily take a solid majority because of the unusual ways he uses magic. In that instance it doesn't rely on just power level or trickery. In an impromptu match I'd say Hellstrom takes the majority