IGR vs UWMC: Correlation
CBRE Global Real Estate Income Fund (IGR) and UWM Holdings Corporation (UWMC) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IGR and UWMC?
On 3 years of weekly data the IGR/UWMC correlation comes out at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. The 5-year figure is 0.46, and annualized covariance runs at 685.5 %².
Among the 24 assets we track against IGR, UWMC ranks #18 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IGR ahead by 78.8 points (+7.8% versus -71.0%). One caveat on sizing: UWMC is 2.0 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.
IGR vs UWMC: side by side
| IGR (CBRE Global Real Estate Income Fund) | UWMC (UWM Holdings Corporation) | |
|---|---|---|
| 1-year return | +7.8% | -71.0% |
| 5-year return | -4.7% | -69.4% |
| Volatility (ann.) | 26.5% | 52.6% |
| Beta vs S&P 500 | 0.81 | 0.96 |
| Max drawdown (3Y) | -29.5% | -84.9% |
| Market cap | $0.7B | $4.2B |
| P/E (trailing) | 15.4 | – |
| Dividend yield | 7.73% | 27.40% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IGR | UWMC |
|---|---|---|
| 2022 | -35.5% | -38.0% |
| 2023 | +8.6% | +132.1% |
| 2024 | +1.2% | -13.0% |
| 2025 | +5.2% | -19.3% |
| 2026 | +16.8% | -63.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IGR and UWMC good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IGR and UWMC?
The IGR/UWMC correlation stands at 0.49 on a 3-year window (1 year: 0.41, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is UWMC a good diversifier for IGR?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
A reading of 0.49 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/igr-vs-uwmc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/igr-vs-uwmc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IGR correlations · UWMC correlations
