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In this work, we design, analyze, and optimize sequential and shared-memory parallel algorithms for partitioned local depths (PaLD). Given a set of data points and pairwise distances, PaLD is a method for identifying strength of pairwise relationships based on relative distances, enabling the identification of strong ties within dense and sparse communities even if their sizes and within-community absolute distances vary greatly. We design two algorithmic variants that perform community structure analysis through triplet comparisons of pairwise distances. We present theoretical analyses of computation and communication costs and prove that the sequential algorithms are communication optimal, up to constant factors. We introduce performance optimization strategies that yield sequential speedups of up to 29x over a baseline sequential implementation and parallel speedups of up to 26.2x over optimized sequential implementations using up to 32 threads on an Intel multicore CPU.