CBRE vs IWM: Correlation
How closely do CBRE Group (CBRE) and iShares Russell 2000 ETF (IWM) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBRE and IWM?
Over the past 3 years, CBRE and IWM moved with a correlation of 0.65, which is strong. The past 12 months show a weaker link (0.48) than the 3-year average (0.65). Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 392.9 %².
Among the 41 assets we track against CBRE, IWM ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IWM outperformed by 38.1 percentage points (-9.7% for CBRE against +28.4% for IWM). Across three years, the rolling one-year figure varied moderately, from 0.45 to 0.79. Risk is not evenly split, since CBRE 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 IWM: side by side
| CBRE (CBRE Group) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | -9.7% | +28.4% |
| 5-year return | +53.3% | +41.5% |
| Volatility (ann.) | 30.4% | 19.8% |
| Beta vs S&P 500 | 1.04 | 1.06 |
| Max drawdown (3Y) | -27.4% | -27.5% |
| Market cap | $42.6B | – |
| P/E (trailing) | 34.4 | – |
| Dividend yield | 0.00% | 0.91% |
| Expense ratio | – | 0.19% |
| Assets under management | – | $80.1B |
| Sector / category | Real Estate | ETF · US Small & Mid Cap |
IWM, iShares's Small Blend fund, carries $80.1B under management, 1757 holdings, a 0.19% expense ratio, a 0.91% trailing dividend yield.
Year-by-year returns
| Year | CBRE | IWM |
|---|---|---|
| 2022 | -29.1% | -20.5% |
| 2023 | +21.0% | +16.8% |
| 2024 | +41.0% | +11.4% |
| 2025 | +22.5% | +12.7% |
| 2026 | -8.4% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBRE and IWM good diversifiers for each other?
To a limited degree. At 0.65 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 CBRE and IWM?
The CBRE/IWM correlation stands at 0.65 on a 3-year window (1 year: 0.48, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is IWM a good diversifier for CBRE?
To a limited degree. At 0.65 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 0.65 mean?
On the −1 to +1 scale, 0.65 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-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbre-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CBRE correlations · IWM correlations
