LMAT vs NTRP: Correlation
Measured on weekly returns over the past three years, LeMaitre Vascular, Inc. (LMAT) and NextTrip, Inc. (NTRP) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LMAT and NTRP?
Across a 3-year window, the weekly returns of LMAT and NTRP correlate at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.07) than the 3-year average (-0.22). Stretching to 5 years gives -0.09, with an annualized covariance of -1079.2 %².
Among the 14 assets we track against LMAT, NTRP sits near the bottom by co-movement, at rank #10. The last year tells two different stories: LMAT led by 45.9 percentage points, -15.9% for LMAT against -61.8% for NTRP. One caveat on sizing: NTRP is 4.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
LMAT vs NTRP: side by side
| LMAT (LeMaitre Vascular, Inc.) | NTRP (NextTrip, Inc.) | |
|---|---|---|
| 1-year return | -15.9% | -61.8% |
| 5-year return | +47.2% | -98.0% |
| Volatility (ann.) | 35.0% | 139.9% |
| Beta vs S&P 500 | 0.57 | 0.04 |
| Max drawdown (3Y) | -32.5% | -84.7% |
| Market cap | $1.8B | – |
| P/E (trailing) | 27.9 | – |
| Dividend yield | 1.13% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LMAT | NTRP |
|---|---|---|
| 2022 | -7.4% | -78.3% |
| 2023 | +24.6% | -62.2% |
| 2024 | +63.6% | +99.5% |
| 2025 | -11.2% | -46.4% |
| 2026 | -1.0% | -57.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LMAT and NTRP good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between LMAT and NTRP?
The LMAT/NTRP correlation stands at -0.22 on a 3-year window (1 year: 0.07, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is NTRP a good diversifier for LMAT?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/lmat-vs-ntrp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lmat-vs-ntrp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LMAT correlations · NTRP correlations
