CBRE vs USB: Correlation
CBRE Group (CBRE) and U.S. Bancorp (USB) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBRE and USB?
On 3 years of weekly data the CBRE/USB correlation comes out at 0.65, strong. The link has loosened recently: the 1-year correlation (0.54) runs below the 3-year figure (0.65). The 5-year figure is 0.59, and annualized covariance runs at 538.8 %².
Within CBRE's tracked universe of 41 assets, USB comes in at #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with USB ahead by 42.8 points (-9.7% versus +33.1%). The rolling one-year correlation stayed in a tight band between 0.52 and 0.76 over the past three years, which points to a structural rather than episodic relationship.
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 USB: side by side
| CBRE (CBRE Group) | USB (U.S. Bancorp) | |
|---|---|---|
| 1-year return | -9.7% | +33.1% |
| 5-year return | +53.3% | +36.0% |
| Volatility (ann.) | 30.4% | 27.3% |
| Beta vs S&P 500 | 1.04 | 1.09 |
| Max drawdown (3Y) | -27.4% | -30.6% |
| Market cap | $42.6B | $97.2B |
| P/E (trailing) | 34.4 | 12.5 |
| Dividend yield | 0.00% | 3.31% |
| Sector / category | Real Estate | Financials |
Year-by-year returns
| Year | CBRE | USB |
|---|---|---|
| 2022 | -29.1% | -19.1% |
| 2023 | +21.0% | +4.8% |
| 2024 | +41.0% | +15.6% |
| 2025 | +22.5% | +16.5% |
| 2026 | -8.4% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBRE and USB good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CBRE and USB?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.54 over the last year and 0.59 over 5 years.
Is USB a good diversifier for CBRE?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
A reading of 0.65 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cbre-vs-usb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cbre-vs-usb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CBRE correlations · USB correlations
