CWK vs JLL: Correlation
Cushman & Wakefield Ltd. (CWK) and Jones Lang LaSalle Incorporated (JLL) show a very strong relationship: their 3-year correlation of weekly returns is 0.87.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWK and JLL?
Across a 3-year window, the weekly returns of CWK and JLL correlate at 0.87, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.87 lands near the 3-year figure. Stretching to 5 years gives 0.84, with an annualized covariance of 1428.3 %².
In CWK's tracked universe of 26 assets, JLL sits right near the top at #1. The last year tells two different stories: JLL led by 35.2 percentage points, -11.4% for CWK against +23.8% for JLL.
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.
CWK vs JLL: side by side
| CWK (Cushman & Wakefield Ltd.) | JLL (Jones Lang LaSalle Incorporated) | |
|---|---|---|
| 1-year return | -11.4% | +23.8% |
| 5-year return | -22.4% | +55.9% |
| Volatility (ann.) | 47.1% | 34.9% |
| Beta vs S&P 500 | 1.67 | 1.30 |
| Max drawdown (3Y) | -49.0% | -30.6% |
| Market cap | $3.3B | $17.4B |
| P/E (trailing) | 50.5 | 18.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CWK | JLL |
|---|---|---|
| 2022 | -44.0% | -40.8% |
| 2023 | -13.3% | +18.5% |
| 2024 | +21.1% | +34.0% |
| 2025 | +23.8% | +32.9% |
| 2026 | -12.7% | +12.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWK and JLL good diversifiers for each other?
No: a correlation of 0.87 means CWK and JLL tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CWK and JLL?
The CWK/JLL correlation stands at 0.87 on a 3-year window (1 year: 0.87, 5 years: 0.84), computed from weekly returns as of 2026-08-27.
Is JLL a good diversifier for CWK?
No: a correlation of 0.87 means CWK and JLL tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.87 mean?
A reading of 0.87 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CWK correlations · JLL correlations
