How much are LP tokens worth?

Could you please elaborate on the value of LP tokens? As an investor in the cryptocurrency space, I'm curious to understand the underlying factors that determine their worth. Are they directly tied to the performance of the liquidity pool they represent? Or are there other factors such as market sentiment, demand, and supply dynamics that play a significant role in determining their price? I'm also interested in knowing if there are any specific strategies or best practices that investors can adopt to maximize their returns on LP tokens.