CBRE vs FSV: Correlation
CBRE Group (CBRE) and FirstService Corporation (FSV) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBRE and FSV?
Over the past 3 years, CBRE and FSV moved with a correlation of 0.55, which is moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.55 over 3. Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 375.1 %².
Among the 41 assets we track against CBRE, FSV ranks #19 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CBRE outperformed by 19.6 percentage points (-9.7% for CBRE against -29.3% for FSV).
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 FSV: side by side
| CBRE (CBRE Group) | FSV (FirstService Corporation) | |
|---|---|---|
| 1-year return | -9.7% | -29.3% |
| 5-year return | +53.3% | -21.9% |
| Volatility (ann.) | 30.4% | 22.3% |
| Beta vs S&P 500 | 1.04 | 0.62 |
| Max drawdown (3Y) | -27.4% | -39.4% |
| Market cap | $42.6B | $6.2B |
| P/E (trailing) | 34.4 | 40.7 |
| Dividend yield | 0.00% | 0.81% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | CBRE | FSV |
|---|---|---|
| 2022 | -29.1% | -37.2% |
| 2023 | +21.0% | +33.1% |
| 2024 | +41.0% | +12.3% |
| 2025 | +22.5% | -13.5% |
| 2026 | -8.4% | -8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBRE and FSV good diversifiers for each other?
Only partially. A correlation of 0.55 means CBRE and FSV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CBRE and FSV?
The CBRE/FSV correlation stands at 0.55 on a 3-year window (1 year: 0.53, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is FSV a good diversifier for CBRE?
Only partially. A correlation of 0.55 means CBRE and FSV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cbre-vs-fsv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cbre-vs-fsv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CBRE correlations · FSV correlations
