BJ vs LPTH: Correlation
How closely do BJ's Wholesale Club Holdings, Inc. (BJ) and LightPath Technologies, Inc. (LPTH) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BJ and LPTH?
On 3 years of weekly data the BJ/LPTH correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.46) than the 3-year average (-0.31). The 5-year figure is -0.15, and annualized covariance runs at -647.9 %².
LPTH is close to the least connected end of BJ's tracked universe, ranking #43 of 43. The last year tells two different stories: LPTH led by 194.2 percentage points, -6.9% for BJ against +187.3% for LPTH. Note the risk asymmetry: LPTH runs 3.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BJ vs LPTH: side by side
| BJ (BJ's Wholesale Club Holdings, Inc.) | LPTH (LightPath Technologies, Inc.) | |
|---|---|---|
| 1-year return | -6.9% | +187.3% |
| 5-year return | +59.5% | +499.6% |
| Volatility (ann.) | 26.4% | 79.6% |
| Beta vs S&P 500 | -0.14 | 1.33 |
| Max drawdown (3Y) | -30.1% | -61.1% |
| Market cap | $11.4B | $0.9B |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BJ | LPTH |
|---|---|---|
| 2022 | -1.2% | -50.0% |
| 2023 | +0.8% | +3.3% |
| 2024 | +34.0% | +180.2% |
| 2025 | +0.8% | +205.9% |
| 2026 | +0.5% | +27.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BJ and LPTH good diversifiers for each other?
Yes. With a correlation of -0.31, BJ and LPTH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BJ and LPTH?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.46 over the last year and -0.15 over 5 years.
Is LPTH a good diversifier for BJ?
Yes. With a correlation of -0.31, BJ and LPTH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/bj-vs-lpth.json
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Related comparisons
Hubs: BJ correlations · LPTH correlations
