CBRE vs JLL: Correlation
Measured on weekly returns over the past three years, CBRE Group (CBRE) and Jones Lang LaSalle Incorporated (JLL) carry a correlation of 0.91, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBRE and JLL?
Across a 3-year window, the weekly returns of CBRE and JLL correlate at 0.91, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.94) sits close to the 3-year figure. Stretching to 5 years gives 0.89, with an annualized covariance of 969.7 %².
Few assets follow CBRE as closely as JLL, which ranks #1 of 41 tracked partners. Correlation aside, the last 12 months split them widely, with JLL ahead by 33.5 points (-9.7% versus +23.8%).
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 JLL: side by side
| CBRE (CBRE Group) | JLL (Jones Lang LaSalle Incorporated) | |
|---|---|---|
| 1-year return | -9.7% | +23.8% |
| 5-year return | +53.3% | +55.9% |
| Volatility (ann.) | 30.4% | 34.9% |
| Beta vs S&P 500 | 1.04 | 1.30 |
| Max drawdown (3Y) | -27.4% | -30.6% |
| Market cap | $42.6B | $17.4B |
| P/E (trailing) | 34.4 | 18.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | CBRE | JLL |
|---|---|---|
| 2022 | -29.1% | -40.8% |
| 2023 | +21.0% | +18.5% |
| 2024 | +41.0% | +34.0% |
| 2025 | +22.5% | +32.9% |
| 2026 | -8.4% | +12.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBRE and JLL good diversifiers for each other?
No. With a correlation of 0.91, CBRE and JLL move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CBRE and JLL?
As of 2026-08-27, the correlation of weekly returns between CBRE and JLL is 0.91 over 3 years, 0.94 over 1 year and 0.89 over 5 years.
Is JLL a good diversifier for CBRE?
No. With a correlation of 0.91, CBRE and JLL move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.91 mean?
On the −1 to +1 scale, 0.91 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.
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Related comparisons
Hubs: CBRE correlations · JLL correlations
