A lighting apparatus may include a plurality of light emitting devices, a temperature sensor, and a compensation circuit. The plurality of light emitting devices may include a first light emitting device configured to emit light having a first chromaticity, a second light emitting device configured to emit light having a second chromaticity different than the first chromaticity, and a third light emitting device configured to emit light having the second chromaticity. Moreover, the first, second, and third light emitting devices may be electrically coupled in series. The temperature sensor may be configured to generate a temperature sense signal responsive to heat generated by at least one of the plurality of light emitting devices. The compensation circuit may be coupled to the third light emitting device, with the compensation circuit being configured to vary a level of electrical current through the third light emitting device relative to the electrical current through the first and second light emitting devices responsive to the temperature sense signal. Related methods are also discussed.