The Patagonia R1 hoody is a form-fitting piece which can be worn next to skin or under a thin base layer. Often it feels quite warm in milder temperatures, so it suits cooler conditions. The hood is close-fitting and works well under a helmet. The thumb loops suit some users - I like them.
The Paramo Summit Hoody is a looser fit and is designed to work in conjunction with the Fuera Ascent; note that the combination isn't waterproof, but offers reasonably good protection in drizzle/snow/etc. The Summit Hoody is warmer and offers more wind resistance than the R1 Hoody. The venting options help balance the warmer materials and looser fit (personally, I prefer the grid system in the R1 fabric which works really well to transfer moisture). The Summit Hoody is designed to be worn over a baselayer and the fit is quite relaxed - consider sizing smaller to offer a tighter fit. The pit zips (which line up with the pit zips on the Fuera Ascent) and range of pockets make it quite a versatile garment. The hood works under a helmet but isn't as snug as the R1. There are no thumb loops, but the elasticated cuffs seem okay, if not a little bulky.