CBRE vs NCMI: Correlation
CBRE Group (CBRE) and National CineMedia, Inc. (NCMI) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBRE and NCMI?
Across a 3-year window, the weekly returns of CBRE and NCMI correlate at 0.37, moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. Stretching to 5 years gives 0.26, with an annualized covariance of 582.3 %².
Among the 41 assets we track against CBRE, NCMI ranks #30 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CBRE ahead by 30.9 points (-9.7% versus -40.6%). One caveat on sizing: NCMI is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 NCMI: side by side
| CBRE (CBRE Group) | NCMI (National CineMedia, Inc.) | |
|---|---|---|
| 1-year return | -9.7% | -40.6% |
| 5-year return | +53.3% | -88.8% |
| Volatility (ann.) | 30.4% | 51.6% |
| Beta vs S&P 500 | 1.04 | 0.73 |
| Max drawdown (3Y) | -27.4% | -68.9% |
| Market cap | $42.6B | $0.2B |
| P/E (trailing) | 34.4 | – |
| Dividend yield | 0.00% | 3.41% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | CBRE | NCMI |
|---|---|---|
| 2022 | -29.1% | -91.7% |
| 2023 | +21.0% | +88.2% |
| 2024 | +41.0% | +60.4% |
| 2025 | +22.5% | -39.9% |
| 2026 | -8.4% | -34.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBRE and NCMI good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CBRE and NCMI?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.44 over the last year and 0.26 over 5 years.
Is NCMI a good diversifier for CBRE?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 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-ncmi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbre-vs-ncmi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CBRE correlations · NCMI correlations
