LPA vs SMMT: Correlation
How closely do Logistic Properties of the Americas (LPA) and Summit Therapeutics Inc. (SMMT) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LPA and SMMT?
On 3 years of weekly data the LPA/SMMT correlation comes out at 0.62, strong. The past 12 months show a weaker link (0.07) than the 3-year average (0.62). The 5-year figure is n/a, and annualized covariance runs at 54355.8 %².
SMMT is one of the assets that tracks LPA most closely: it ranks #3 out of the 21 assets we track against LPA. Over the last 12 months SMMT came out ahead by 10.1 percentage points (-52.3% against -42.2%). Risk is not evenly split, since LPA carries 3.6 times the volatility of the other side.
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.
LPA vs SMMT: side by side
| LPA (Logistic Properties of the Americas) | SMMT (Summit Therapeutics Inc.) | |
|---|---|---|
| 1-year return | -52.3% | -42.2% |
| 5-year return | n/a | +78.5% |
| Volatility (ann.) | 540.6% | 150.4% |
| Beta vs S&P 500 | -0.73 | 2.43 |
| Max drawdown (3Y) | -99.1% | -66.1% |
| Market cap | $0.1B | $11.4B |
| P/E (trailing) | 5.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LPA | SMMT |
|---|---|---|
| 2022 | – | +58.0% |
| 2023 | – | -38.6% |
| 2024 | – | +583.7% |
| 2025 | -74.5% | -2.0% |
| 2026 | +12.5% | -18.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LPA and SMMT good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between LPA and SMMT?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.07 over the last year and n/a over 5 years.
Is SMMT a good diversifier for LPA?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 mean?
A reading of 0.62 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: LPA correlations · SMMT correlations
