CIGI vs FSV: Correlation
How closely do Colliers International Group Inc. - Subordinate Voting (CIGI) and FirstService Corporation (FSV) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIGI and FSV?
On 3 years of weekly data the CIGI/FSV correlation comes out at 0.56, moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. The 5-year figure is 0.60, and annualized covariance runs at 382.6 %².
Within CIGI's tracked universe of 14 assets, FSV comes in at #7 by 3-year correlation. On 12-month performance FSV holds a 8.6-point edge, -37.9% against -29.3%.
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 FSV: side by side
| CIGI (Colliers International Group Inc. - Subordinate Voting) | FSV (FirstService Corporation) | |
|---|---|---|
| 1-year return | -37.9% | -29.3% |
| 5-year return | -24.2% | -21.9% |
| Volatility (ann.) | 30.6% | 22.3% |
| Beta vs S&P 500 | 0.98 | 0.62 |
| Max drawdown (3Y) | -47.5% | -39.4% |
| Market cap | $5.3B | $6.2B |
| P/E (trailing) | 48.8 | 40.7 |
| Dividend yield | 0.29% | 0.81% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIGI | FSV |
|---|---|---|
| 2022 | -37.9% | -37.2% |
| 2023 | +37.8% | +33.1% |
| 2024 | +7.7% | +12.3% |
| 2025 | +8.4% | -13.5% |
| 2026 | -29.8% | -8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIGI and FSV good diversifiers for each other?
To a limited degree. At 0.56 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 FSV?
As of 2026-08-27, the correlation of weekly returns between CIGI and FSV is 0.56 over 3 years, 0.56 over 1 year and 0.60 over 5 years.
Is FSV a good diversifier for CIGI?
To a limited degree. At 0.56 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 0.56 mean?
A reading of 0.56 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/cigi-vs-fsv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cigi-vs-fsv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CIGI correlations · FSV correlations
