CWK vs NMRK: Correlation
How closely do Cushman & Wakefield Ltd. (CWK) and Newmark Group, Inc. (NMRK) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWK and NMRK?
Across a 3-year window, the weekly returns of CWK and NMRK correlate at 0.82, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.82 over 1 year against 0.82 over 3. Stretching to 5 years gives 0.80, with an annualized covariance of 1671.6 %².
NMRK is one of the assets that tracks CWK most closely: it ranks #3 out of the 26 assets we track against CWK. Twelve-month performance is nearly a tie, at -11.4% for CWK and -13.8% for NMRK.
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 NMRK: side by side
| CWK (Cushman & Wakefield Ltd.) | NMRK (Newmark Group, Inc.) | |
|---|---|---|
| 1-year return | -11.4% | -13.8% |
| 5-year return | -22.4% | +23.3% |
| Volatility (ann.) | 47.1% | 43.4% |
| Beta vs S&P 500 | 1.67 | 1.49 |
| Max drawdown (3Y) | -49.0% | -36.6% |
| Market cap | $3.3B | $3.8B |
| P/E (trailing) | 50.5 | 19.7 |
| Dividend yield | 0.00% | 0.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CWK | NMRK |
|---|---|---|
| 2022 | -44.0% | -57.0% |
| 2023 | -13.3% | +39.9% |
| 2024 | +21.1% | +18.1% |
| 2025 | +23.8% | +36.5% |
| 2026 | -12.7% | -9.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWK and NMRK good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between CWK and NMRK?
As of 2026-08-27, the correlation of weekly returns between CWK and NMRK is 0.82 over 3 years, 0.82 over 1 year and 0.80 over 5 years.
Is NMRK a good diversifier for CWK?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 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
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Related comparisons
Hubs: CWK correlations · NMRK correlations
