LESL vs PIII: Correlation
Leslie's, Inc. (LESL) and P3 Health Partners Inc. (PIII) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LESL and PIII?
Across a 3-year window, the weekly returns of LESL and PIII correlate at 0.43, moderate. The link has tightened recently: the 1-year correlation (0.56) runs above the 3-year figure (0.43). Stretching to 5 years gives 0.38, with an annualized covariance of 8341.2 %².
PIII is one of the assets that tracks LESL most closely: it ranks #1 out of the 11 assets we track against LESL. Correlation aside, the last 12 months split them widely, with PIII ahead by 112.0 points (-92.4% versus +19.6%).
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 PIII: side by side
| LESL (Leslie's, Inc.) | PIII (P3 Health Partners Inc.) | |
|---|---|---|
| 1-year return | -92.4% | +19.6% |
| 5-year return | -99.9% | -98.1% |
| Volatility (ann.) | 125.8% | 154.4% |
| Beta vs S&P 500 | 1.83 | 0.52 |
| Max drawdown (3Y) | -99.7% | -98.9% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LESL | PIII |
|---|---|---|
| 2022 | -48.4% | -73.9% |
| 2023 | -43.4% | -23.4% |
| 2024 | -67.7% | -84.0% |
| 2025 | -96.3% | -69.0% |
| 2026 | -67.7% | +169.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LESL and PIII good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LESL and PIII?
The LESL/PIII correlation stands at 0.43 on a 3-year window (1 year: 0.56, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is PIII a good diversifier for LESL?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lesl-vs-piii.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lesl-vs-piii/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LESL correlations · PIII correlations
