CWK vs OFIX: Correlation
Measured on weekly returns over the past three years, Cushman & Wakefield Ltd. (CWK) and Orthofix Medical Inc. (OFIX) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWK and OFIX?
Across a 3-year window, the weekly returns of CWK and OFIX correlate at 0.49, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.19 versus 0.49 over 3 years. Stretching to 5 years gives 0.48, with an annualized covariance of 1104.7 %².
Among the 26 assets we track against CWK, OFIX ranks #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CWK ahead by 23.7 points (-11.4% versus -35.1%).
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 OFIX: side by side
| CWK (Cushman & Wakefield Ltd.) | OFIX (Orthofix Medical Inc.) | |
|---|---|---|
| 1-year return | -11.4% | -35.1% |
| 5-year return | -22.4% | -76.9% |
| Volatility (ann.) | 47.1% | 47.8% |
| Beta vs S&P 500 | 1.67 | 1.15 |
| Max drawdown (3Y) | -49.0% | -58.1% |
| Market cap | $3.3B | $0.4B |
| P/E (trailing) | 50.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CWK | OFIX |
|---|---|---|
| 2022 | -44.0% | -34.0% |
| 2023 | -13.3% | -34.3% |
| 2024 | +21.1% | +29.5% |
| 2025 | +23.8% | -13.2% |
| 2026 | -12.7% | -36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWK and OFIX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CWK and OFIX?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.19 over the last year and 0.48 over 5 years.
Is OFIX a good diversifier for CWK?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 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.
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Related comparisons
Hubs: CWK correlations · OFIX correlations
