CBRE vs CSGP: Correlation
How closely do CBRE Group (CBRE) and CoStar Group (CSGP) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBRE and CSGP?
Across a 3-year window, the weekly returns of CBRE and CSGP correlate at 0.44, moderate. The relationship has been stable: the 1-year correlation (0.39) sits close to the 3-year figure. Stretching to 5 years gives 0.48, with an annualized covariance of 486.1 %².
Within CBRE's tracked universe of 41 assets, CSGP comes in at #29 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CBRE ahead by 55.3 points (-9.7% versus -65.0%). The rolling one-year correlation moved between 0.35 and 0.71 over the past three years, a moderate range.
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.
CBRE vs CSGP: side by side
| CBRE (CBRE Group) | CSGP (CoStar Group) | |
|---|---|---|
| 1-year return | -9.7% | -65.0% |
| 5-year return | +53.3% | -62.7% |
| Volatility (ann.) | 30.4% | 36.5% |
| Beta vs S&P 500 | 1.04 | 0.86 |
| Max drawdown (3Y) | -27.4% | -72.2% |
| Market cap | $42.6B | $12.7B |
| P/E (trailing) | 34.4 | 174.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | CBRE | CSGP |
|---|---|---|
| 2022 | -29.1% | -2.2% |
| 2023 | +21.0% | +13.1% |
| 2024 | +41.0% | -18.1% |
| 2025 | +22.5% | -6.1% |
| 2026 | -8.4% | -53.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBRE and CSGP good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CBRE and CSGP?
The CBRE/CSGP correlation stands at 0.44 on a 3-year window (1 year: 0.39, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is CSGP a good diversifier for CBRE?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
A reading of 0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CBRE correlations · CSGP correlations
