CIGI vs CWK: Correlation
Colliers International Group Inc. - Subordinate Voting (CIGI) and Cushman & Wakefield Ltd. (CWK) show a strong relationship: their 3-year correlation of weekly returns is 0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIGI and CWK?
Across a 3-year window, the weekly returns of CIGI and CWK correlate at 0.76, strong. The relationship has been stable: the 1-year correlation (0.80) sits close to the 3-year figure. Stretching to 5 years gives 0.75, with an annualized covariance of 1095.3 %².
Few assets follow CIGI as closely as CWK, which ranks #2 of 14 tracked partners. The last year tells two different stories: CWK led by 26.5 percentage points, -37.9% for CIGI against -11.4% for CWK. One caveat on sizing: CWK is 1.5 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.
CIGI vs CWK: side by side
| CIGI (Colliers International Group Inc. - Subordinate Voting) | CWK (Cushman & Wakefield Ltd.) | |
|---|---|---|
| 1-year return | -37.9% | -11.4% |
| 5-year return | -24.2% | -22.4% |
| Volatility (ann.) | 30.6% | 47.1% |
| Beta vs S&P 500 | 0.98 | 1.67 |
| Max drawdown (3Y) | -47.5% | -49.0% |
| Market cap | $5.3B | $3.3B |
| P/E (trailing) | 48.8 | 50.5 |
| Dividend yield | 0.29% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIGI | CWK |
|---|---|---|
| 2022 | -37.9% | -44.0% |
| 2023 | +37.8% | -13.3% |
| 2024 | +7.7% | +21.1% |
| 2025 | +8.4% | +23.8% |
| 2026 | -29.8% | -12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIGI and CWK good diversifiers for each other?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CIGI and CWK?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.80 over the last year and 0.75 over 5 years.
Is CWK a good diversifier for CIGI?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.76 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/cigi-vs-cwk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cigi-vs-cwk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CIGI correlations · CWK correlations
