CBRE vs SPG: Correlation
How closely do CBRE Group (CBRE) and Simon Property Group (SPG) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBRE and SPG?
Over the past 3 years, CBRE and SPG moved with a correlation of 0.55, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.55 over 3. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 377.0 %².
Among the 41 assets we track against CBRE, SPG ranks #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SPG ahead by 36.0 points (-9.7% versus +26.3%). The rolling one-year correlation moved between 0.34 and 0.74 over the past three years, a moderate range.
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 SPG: side by side
| CBRE (CBRE Group) | SPG (Simon Property Group) | |
|---|---|---|
| 1-year return | -9.7% | +26.3% |
| 5-year return | +53.3% | +110.2% |
| Volatility (ann.) | 30.4% | 22.7% |
| Beta vs S&P 500 | 1.04 | 0.79 |
| Max drawdown (3Y) | -27.4% | -24.3% |
| Market cap | $42.6B | $81.6B |
| P/E (trailing) | 34.4 | 15.2 |
| Dividend yield | 0.00% | 4.05% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | CBRE | SPG |
|---|---|---|
| 2022 | -29.1% | -21.9% |
| 2023 | +21.0% | +29.2% |
| 2024 | +41.0% | +26.9% |
| 2025 | +22.5% | +12.9% |
| 2026 | -8.4% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBRE and SPG good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CBRE and SPG?
The CBRE/SPG correlation stands at 0.55 on a 3-year window (1 year: 0.46, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is SPG a good diversifier for CBRE?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 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-spg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbre-vs-spg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CBRE correlations · SPG correlations
