CBRE vs PDM: Correlation
How closely do CBRE Group (CBRE) and Piedmont Realty Trust, Inc. (PDM) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBRE and PDM?
Over the past 3 years, CBRE and PDM moved with a correlation of 0.64, which is strong. Recent behaviour matches the longer record: 0.61 over 1 year against 0.64 over 3. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 684.8 %².
Within CBRE's tracked universe of 41 assets, PDM comes in at #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PDM ahead by 25.7 points (-9.7% versus +16.0%).
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 PDM: side by side
| CBRE (CBRE Group) | PDM (Piedmont Realty Trust, Inc.) | |
|---|---|---|
| 1-year return | -9.7% | +16.0% |
| 5-year return | +53.3% | -29.9% |
| Volatility (ann.) | 30.4% | 35.3% |
| Beta vs S&P 500 | 1.04 | 0.95 |
| Max drawdown (3Y) | -27.4% | -46.4% |
| Market cap | $42.6B | $1.2B |
| P/E (trailing) | 34.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | CBRE | PDM |
|---|---|---|
| 2022 | -29.1% | -46.8% |
| 2023 | +21.0% | -14.8% |
| 2024 | +41.0% | +37.2% |
| 2025 | +22.5% | -7.3% |
| 2026 | -8.4% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBRE and PDM good diversifiers for each other?
Only partially. A correlation of 0.64 means CBRE and PDM 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 PDM?
As of 2026-08-27, the correlation of weekly returns between CBRE and PDM is 0.64 over 3 years, 0.61 over 1 year and 0.63 over 5 years.
Is PDM a good diversifier for CBRE?
Only partially. A correlation of 0.64 means CBRE and PDM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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-pdm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cbre-vs-pdm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CBRE correlations · PDM correlations
