CBRE vs CWK: Correlation
How closely do CBRE Group (CBRE) and Cushman & Wakefield Ltd. (CWK) trade together? Their weekly returns over three years give a correlation of 0.86, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBRE and CWK?
Over the past 3 years, CBRE and CWK moved with a correlation of 0.86, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.92 over 1 year against 0.86 over 3. Over 5 years the correlation is 0.84, and the annualized covariance of weekly returns is 1228.0 %².
Few assets follow CBRE as closely as CWK, which ranks #2 of 41 tracked partners. Twelve-month performance is nearly a tie, at -9.7% for CBRE and -11.4% for CWK. Risk is not evenly split, since CWK carries 1.5 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.
CBRE vs CWK: side by side
| CBRE (CBRE Group) | CWK (Cushman & Wakefield Ltd.) | |
|---|---|---|
| 1-year return | -9.7% | -11.4% |
| 5-year return | +53.3% | -22.4% |
| Volatility (ann.) | 30.4% | 47.1% |
| Beta vs S&P 500 | 1.04 | 1.67 |
| Max drawdown (3Y) | -27.4% | -49.0% |
| Market cap | $42.6B | $3.3B |
| P/E (trailing) | 34.4 | 50.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | CBRE | CWK |
|---|---|---|
| 2022 | -29.1% | -44.0% |
| 2023 | +21.0% | -13.3% |
| 2024 | +41.0% | +21.1% |
| 2025 | +22.5% | +23.8% |
| 2026 | -8.4% | -12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBRE and CWK good diversifiers for each other?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between CBRE and CWK?
As of 2026-08-27, the correlation of weekly returns between CBRE and CWK is 0.86 over 3 years, 0.92 over 1 year and 0.84 over 5 years.
Is CWK a good diversifier for CBRE?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.86 mean?
On the −1 to +1 scale, 0.86 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/cbre-vs-cwk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cbre-vs-cwk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CBRE correlations · CWK correlations
