ACRE vs CWK: Correlation
Measured on weekly returns over the past three years, Ares Commercial Real Estate Corporation (ACRE) and Cushman & Wakefield Ltd. (CWK) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACRE and CWK?
On 3 years of weekly data the ACRE/CWK correlation comes out at 0.58, moderate. The link has loosened recently: the 1-year correlation (0.46) runs below the 3-year figure (0.58). The 5-year figure is 0.57, and annualized covariance runs at 1017.2 %².
In ACRE's tracked universe of 13 assets, CWK sits right near the top at #2. Correlation aside, the last 12 months split them widely, with ACRE ahead by 25.0 points (+13.6% versus -11.4%).
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.
ACRE vs CWK: side by side
| ACRE (Ares Commercial Real Estate Corporation) | CWK (Cushman & Wakefield Ltd.) | |
|---|---|---|
| 1-year return | +13.6% | -11.4% |
| 5-year return | -43.9% | -22.4% |
| Volatility (ann.) | 37.4% | 47.1% |
| Beta vs S&P 500 | 0.90 | 1.67 |
| Max drawdown (3Y) | -61.3% | -49.0% |
| Market cap | $0.3B | $3.3B |
| P/E (trailing) | – | 50.5 |
| Dividend yield | 12.96% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACRE | CWK |
|---|---|---|
| 2022 | -20.4% | -44.0% |
| 2023 | +15.6% | -13.3% |
| 2024 | -34.0% | +21.1% |
| 2025 | -7.9% | +23.8% |
| 2026 | +3.4% | -12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACRE and CWK good diversifiers for each other?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ACRE and CWK?
The ACRE/CWK correlation stands at 0.58 on a 3-year window (1 year: 0.46, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is CWK a good diversifier for ACRE?
To a limited degree. At 0.58 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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/acre-vs-cwk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/acre-vs-cwk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ACRE correlations · CWK correlations
