CBZ vs CRAI: Correlation
CBIZ, Inc. (CBZ) and CRA International,Inc. (CRAI) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBZ and CRAI?
Across a 3-year window, the weekly returns of CBZ and CRAI correlate at 0.51, moderate. Recent behaviour matches the longer record: 0.59 over 1 year against 0.51 over 3. Stretching to 5 years gives 0.44, with an annualized covariance of 816.2 %².
Among the 20 assets we track against CBZ, CRAI ranks #10 by 3-year correlation. Twelve-month performance is nearly a tie, at -16.9% for CBZ and -12.7% for CRAI.
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.
CBZ vs CRAI: side by side
| CBZ (CBIZ, Inc.) | CRAI (CRA International,Inc.) | |
|---|---|---|
| 1-year return | -16.9% | -12.7% |
| 5-year return | +61.7% | +97.4% |
| Volatility (ann.) | 44.6% | 36.2% |
| Beta vs S&P 500 | 1.02 | 0.74 |
| Max drawdown (3Y) | -71.6% | -38.1% |
| Market cap | $3.0B | $1.1B |
| P/E (trailing) | 26.3 | 22.7 |
| Dividend yield | 0.00% | 1.29% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBZ | CRAI |
|---|---|---|
| 2022 | +19.8% | +32.9% |
| 2023 | +33.6% | -18.1% |
| 2024 | +30.7% | +91.4% |
| 2025 | -38.3% | +8.4% |
| 2026 | +8.4% | -13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBZ and CRAI good diversifiers for each other?
Only partially. A correlation of 0.51 means CBZ and CRAI 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 CBZ and CRAI?
The CBZ/CRAI correlation stands at 0.51 on a 3-year window (1 year: 0.59, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is CRAI a good diversifier for CBZ?
Only partially. A correlation of 0.51 means CBZ and CRAI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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/cbz-vs-crai.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbz-vs-crai/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CBZ correlations · CRAI correlations
