# Cushman & Wakefield plc (CWK)

Cushman & Wakefield plc, provides commercial real estate services under the Cushman & Wakefield brand in the United States, Australia, the United Kingdom and internationally. The company is headquartered in Chicago, Illinois.

## Stock Price Trends

Stock price trends estimated using linear regression.

#### Key facts

• The primary trend is increasing.
• The growth rate of the primary trend is 67.73% per annum.
• CWK price at the close of September 12, 2024 was \$12.81 and was inside the primary price channel.
• The secondary trend is increasing.
• The growth rate of the secondary trend is 38.95% per annum.
• CWK price at the close of September 12, 2024 was inside the secondary price channel.

### Linear Regression Model

Model equation:
Yi = α + β × Xi + εi

Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)

Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)

where:

i - observation number
Yi - natural logarithm of CWK price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e

### Primary Trend

Start date: September 13, 2023
End date: September 12, 2024

a = -0.0325

b = 0.0014

s = 0.0857

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0014) – 1
= 67.73%

Exp(4 × s) – 1
= Exp(4 × 0.0857) – 1
= 40.89%

#### September 13, 2023 calculations

Top border of price channel:

Exp(Y1,006)
= Exp(a + b × X1,006 + 2 × s)
= Exp(a + b × 1,461 + 2 × s)
= Exp(-0.0325 + 0.0014 × 1,461 + 2 × 0.0857)
= Exp(2.2091)
= \$9.11

Bottom border of price channel:

Exp(Y1,006)
= Exp(a + b × X1,006 – 2 × s)
= Exp(a + b × 1,461 – 2 × s)
= Exp(-0.0325 + 0.0014 × 1,461 – 2 × 0.0857)
= Exp(1.8662)
= \$6.46

#### September 12, 2024 calculations

Top border of price channel:

Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(-0.0325 + 0.0014 × 1,826 + 2 × 0.0857)
= Exp(2.7262)
= \$15.28

Bottom border of price channel:

Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(-0.0325 + 0.0014 × 1,826 – 2 × 0.0857)
= Exp(2.3834)
= \$10.84

#### Description

• The primary trend is increasing.
• The growth rate of the primary trend is 67.73% per annum.
• CWK price at the close of September 12, 2024 was \$12.81 and was inside the primary price channel.

### Secondary Trend

Start date: December 13, 2023
End date: September 12, 2024

a = 0.8562

b = 0.0009

s = 0.0712

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0009) – 1
= 38.95%

Exp(4 × s) – 1
= Exp(4 × 0.0712) – 1
= 32.92%

#### December 13, 2023 calculations

Top border of price channel:

Exp(Y1,070)
= Exp(a + b × X1,070 + 2 × s)
= Exp(a + b × 1,552 + 2 × s)
= Exp(0.8562 + 0.0009 × 1,552 + 2 × 0.0712)
= Exp(2.3972)
= \$10.99

Bottom border of price channel:

Exp(Y1,070)
= Exp(a + b × X1,070 – 2 × s)
= Exp(a + b × 1,552 – 2 × s)
= Exp(0.8562 + 0.0009 × 1,552 – 2 × 0.0712)
= Exp(2.1126)
= \$8.27

#### September 12, 2024 calculations

Top border of price channel:

Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(0.8562 + 0.0009 × 1,826 + 2 × 0.0712)
= Exp(2.6442)
= \$14.07

Bottom border of price channel:

Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(0.8562 + 0.0009 × 1,826 – 2 × 0.0712)
= Exp(2.3595)
= \$10.59

#### Description

• The secondary trend is increasing.
• The growth rate of the secondary trend is 38.95% per annum.
• CWK price at the close of September 12, 2024 was inside the secondary price channel.