CWK vs TWAV: Correlation
Measured on weekly returns over the past three years, Cushman & Wakefield Ltd. (CWK) and TaoWeave, Inc. (TWAV) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWK and TWAV?
On 3 years of weekly data the CWK/TWAV correlation comes out at 0.36, moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. The 5-year figure is 0.29, and annualized covariance runs at 1862.6 %².
Among the 26 assets we track against CWK, TWAV sits near the bottom by co-movement, at rank #23. Correlation aside, the last 12 months split them widely, with CWK ahead by 45.4 points (-11.4% versus -56.8%). One caveat on sizing: TWAV is 2.3 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.
CWK vs TWAV: side by side
| CWK (Cushman & Wakefield Ltd.) | TWAV (TaoWeave, Inc.) | |
|---|---|---|
| 1-year return | -11.4% | -56.8% |
| 5-year return | -22.4% | -99.9% |
| Volatility (ann.) | 47.1% | 108.8% |
| Beta vs S&P 500 | 1.67 | 1.85 |
| Max drawdown (3Y) | -49.0% | -97.8% |
| Market cap | $3.3B | – |
| P/E (trailing) | 50.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CWK | TWAV |
|---|---|---|
| 2022 | -44.0% | -88.3% |
| 2023 | -13.3% | -88.9% |
| 2024 | +21.1% | -51.5% |
| 2025 | +23.8% | -53.4% |
| 2026 | -12.7% | -22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWK and TWAV good diversifiers for each other?
Reasonably. At 0.36, CWK and TWAV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CWK and TWAV?
The CWK/TWAV correlation stands at 0.36 on a 3-year window (1 year: 0.37, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is TWAV a good diversifier for CWK?
Reasonably. At 0.36, CWK and TWAV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 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 · TWAV correlations
