CBRE vs RSP: Correlation
How closely do CBRE Group (CBRE) and Invesco S&P 500 Equal Weight ETF (RSP) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBRE and RSP?
Across a 3-year window, the weekly returns of CBRE and RSP correlate at 0.66, strong. Lately the two have drifted apart, with the 1-year correlation at 0.53 versus 0.66 over 3 years. Stretching to 5 years gives 0.69, with an annualized covariance of 264.6 %².
By 3-year correlation, RSP places #8 of the 41 assets tracked against CBRE. The last year tells two different stories: RSP led by 28.9 percentage points, -9.7% for CBRE against +19.2% for RSP. Across three years, the rolling one-year figure varied moderately, from 0.48 to 0.80. One caveat on sizing: CBRE is 2.3 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 RSP: side by side
| CBRE (CBRE Group) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | -9.7% | +19.2% |
| 5-year return | +53.3% | +53.9% |
| Volatility (ann.) | 30.4% | 13.2% |
| Beta vs S&P 500 | 1.04 | 0.77 |
| Max drawdown (3Y) | -27.4% | -17.8% |
| Market cap | $42.6B | – |
| P/E (trailing) | 34.4 | – |
| Dividend yield | 0.00% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Real Estate | ETF · US Large Cap |
On the fund side, RSP sits in the Large Blend category at Invesco, with $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield.
Year-by-year returns
| Year | CBRE | RSP |
|---|---|---|
| 2022 | -29.1% | -11.6% |
| 2023 | +21.0% | +13.7% |
| 2024 | +41.0% | +12.8% |
| 2025 | +22.5% | +11.2% |
| 2026 | -8.4% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
CBRE represents 0.21% of RSP's portfolio, so part of any move in RSP is CBRE itself, and the correlation between them is partly mechanical.
Are CBRE and RSP good diversifiers for each other?
Only partially. A correlation of 0.66 means CBRE and RSP 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 RSP?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.53 over the last year and 0.69 over 5 years.
Is RSP a good diversifier for CBRE?
Only partially. A correlation of 0.66 means CBRE and RSP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 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-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cbre-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CBRE correlations · RSP correlations
