On impermanent loss in smaller LPs

Been dabbling in some liquidity pools on a few smaller chains, not the big guns like $ETH or $SOL. I'm trying to get my head around the true impact of impermanent loss when dealing with less correlated assets, say a newer altcoin paired with a stablecoin. I understand the general mechanics, but when volume is low and one side of the pair dumps, it feels like the IL calculator doesn't quite capture the full sting, especially when gas fees eat into any recovery. Am I overthinking the 'impermanence' part in these lower-cap pools, or is there a common strategy to mitigate this beyond just picking highly correlated pairs?