LULU vs PAPL: Correlation
Lululemon Athletica (LULU) and Pineapple Financial Inc. (PAPL) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LULU and PAPL?
Over the past 3 years, LULU and PAPL moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.23 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1807.8 %².
PAPL is close to the least connected end of LULU's tracked universe, ranking #30 of 34. The last year tells two different stories: LULU led by 26.6 percentage points, -44.1% for LULU against -70.7% for PAPL. Note the risk asymmetry: PAPL runs 4.3 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.
LULU vs PAPL: side by side
| LULU (Lululemon Athletica) | PAPL (Pineapple Financial Inc.) | |
|---|---|---|
| 1-year return | -44.1% | -70.7% |
| 5-year return | -72.3% | n/a |
| Volatility (ann.) | 41.8% | 181.2% |
| Beta vs S&P 500 | 0.98 | -0.73 |
| Max drawdown (3Y) | -79.4% | -99.4% |
| Market cap | $13.1B | – |
| P/E (trailing) | 9.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | LULU | PAPL |
|---|---|---|
| 2022 | -18.2% | – |
| 2023 | +59.6% | – |
| 2024 | -25.2% | -74.7% |
| 2025 | -45.7% | -84.4% |
| 2026 | -44.7% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LULU and PAPL good diversifiers for each other?
Yes. With a correlation of -0.23, LULU and PAPL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LULU and PAPL?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.32 over the last year and n/a over 5 years.
Is PAPL a good diversifier for LULU?
Yes. With a correlation of -0.23, LULU and PAPL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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/lulu-vs-papl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lulu-vs-papl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LULU correlations · PAPL correlations
