LESL vs LQDA: Correlation
How closely do Leslie's, Inc. (LESL) and Liquidia Corporation (LQDA) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LESL and LQDA?
On 3 years of weekly data the LESL/LQDA correlation comes out at 0.38, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.38 over 3. The 5-year figure is 0.29, and annualized covariance runs at 3495.4 %².
Within LESL's tracked universe of 11 assets, LQDA comes in at #5 by 3-year correlation. The last year tells two different stories: LQDA led by 242.2 percentage points, -92.4% for LESL against +149.8% for LQDA. Note the risk asymmetry: LESL runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
LESL vs LQDA: side by side
| LESL (Leslie's, Inc.) | LQDA (Liquidia Corporation) | |
|---|---|---|
| 1-year return | -92.4% | +149.8% |
| 5-year return | -99.9% | +2500.0% |
| Volatility (ann.) | 125.8% | 72.2% |
| Beta vs S&P 500 | 1.83 | 1.47 |
| Max drawdown (3Y) | -99.7% | -46.8% |
| Market cap | – | $6.3B |
| P/E (trailing) | – | 51.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LESL | LQDA |
|---|---|---|
| 2022 | -48.4% | +30.8% |
| 2023 | -43.4% | +88.9% |
| 2024 | -67.7% | -2.2% |
| 2025 | -96.3% | +193.3% |
| 2026 | -67.7% | +102.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LESL and LQDA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LESL and LQDA?
As of 2026-08-27, the correlation of weekly returns between LESL and LQDA is 0.38 over 3 years, 0.43 over 1 year and 0.29 over 5 years.
Is LQDA a good diversifier for LESL?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/lesl-vs-lqda.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lesl-vs-lqda/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LESL correlations · LQDA correlations
