LESL vs QQQ: Correlation
How closely do Leslie's, Inc. (LESL) and Invesco QQQ Trust (QQQ) trade together? Their weekly returns over three years give a correlation of 0.22, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LESL and QQQ?
Across a 3-year window, the weekly returns of LESL and QQQ correlate at 0.22, weak. The relationship has been stable: the 1-year correlation (0.23) sits close to the 3-year figure. Stretching to 5 years gives 0.23, with an annualized covariance of 542.3 %².
Out of 11 assets tracked against LESL, QQQ lands near the bottom at #7. Their recent paths diverged sharply: over the last 12 months QQQ outperformed by 118.7 percentage points (-92.4% for LESL against +26.3% for QQQ). Risk is not evenly split, since LESL carries 6.4 times the volatility of the other side.
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 QQQ: side by side
| LESL (Leslie's, Inc.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -92.4% | +26.3% |
| 5-year return | -99.9% | +95.4% |
| Volatility (ann.) | 125.8% | 19.6% |
| Beta vs S&P 500 | 1.83 | 1.28 |
| Max drawdown (3Y) | -99.7% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | LESL | QQQ |
|---|---|---|
| 2022 | -48.4% | -32.6% |
| 2023 | -43.4% | +54.9% |
| 2024 | -67.7% | +25.6% |
| 2025 | -96.3% | +20.8% |
| 2026 | -67.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LESL and QQQ good diversifiers for each other?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LESL and QQQ?
As of 2026-08-27, the correlation of weekly returns between LESL and QQQ is 0.22 over 3 years, 0.23 over 1 year and 0.23 over 5 years.
Is QQQ a good diversifier for LESL?
A fair diversifier. At 0.22, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.22 mean?
A reading of 0.22 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-qqq.json
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[](https://www.pairbook.io/pair/lesl-vs-qqq/)
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Related comparisons
Hubs: LESL correlations · QQQ correlations
