ADV vs CWK: Correlation
Advantage Solutions Inc. (ADV) and Cushman & Wakefield Ltd. (CWK) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADV and CWK?
On 3 years of weekly data the ADV/CWK correlation comes out at 0.45, moderate. The link has loosened recently: the 1-year correlation (0.33) runs below the 3-year figure (0.45). The 5-year figure is 0.40, and annualized covariance runs at 1734.2 %².
Few assets follow ADV as closely as CWK, which ranks #2 of 11 tracked partners. Correlation aside, the last 12 months split them widely, with CWK ahead by 15.9 points (-27.3% versus -11.4%). Risk is not evenly split, since ADV carries 1.8 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.
ADV vs CWK: side by side
| ADV (Advantage Solutions Inc.) | CWK (Cushman & Wakefield Ltd.) | |
|---|---|---|
| 1-year return | -27.3% | -11.4% |
| 5-year return | -84.9% | -22.4% |
| Volatility (ann.) | 82.5% | 47.1% |
| Beta vs S&P 500 | 1.06 | 1.67 |
| Max drawdown (3Y) | -89.3% | -49.0% |
| Market cap | $0.4B | $3.3B |
| P/E (trailing) | – | 50.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ADV | CWK |
|---|---|---|
| 2022 | -74.1% | -44.0% |
| 2023 | +74.0% | -13.3% |
| 2024 | -19.3% | +21.1% |
| 2025 | -69.9% | +23.8% |
| 2026 | +52.0% | -12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADV and CWK good diversifiers for each other?
Reasonably. At 0.45, ADV and CWK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ADV and CWK?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.33 over the last year and 0.40 over 5 years.
Is CWK a good diversifier for ADV?
Reasonably. At 0.45, ADV and CWK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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/adv-vs-cwk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adv-vs-cwk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ADV correlations · CWK correlations
