AES vs MEGI: Correlation
AES Corporation (AES) and NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AES and MEGI?
On 3 years of weekly data the AES/MEGI correlation comes out at 0.56, moderate. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 441.1 %².
Few assets follow AES as closely as MEGI, which ranks #3 of 31 tracked partners. Twelve-month performance is nearly a tie, at +15.9% for AES and +14.7% for MEGI. Note the risk asymmetry: AES runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AES vs MEGI: side by side
| AES (AES Corporation) | MEGI (NYLI CBRE Global Infrastructure Megatrends Term Fund) | |
|---|---|---|
| 1-year return | +15.9% | +14.7% |
| 5-year return | -25.1% | +20.7% |
| Volatility (ann.) | 40.5% | 19.4% |
| Beta vs S&P 500 | 0.86 | 0.49 |
| Max drawdown (3Y) | -53.3% | -17.4% |
| Market cap | $10.5B | $0.8B |
| P/E (trailing) | 5.5 | 4.9 |
| Dividend yield | 4.78% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | AES | MEGI |
|---|---|---|
| 2022 | +21.7% | -23.3% |
| 2023 | -30.9% | +5.5% |
| 2024 | -30.4% | +5.2% |
| 2025 | +18.3% | +26.2% |
| 2026 | +6.6% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AES and MEGI good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AES and MEGI?
As of 2026-08-27, the correlation of weekly returns between AES and MEGI is 0.56 over 3 years, 0.59 over 1 year and 0.54 over 5 years.
Is MEGI a good diversifier for AES?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 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/aes-vs-megi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aes-vs-megi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AES correlations · MEGI correlations
