EMA vs MEGI: Correlation
Emera Incorporated (EMA) and NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMA and MEGI?
Across a 3-year window, the weekly returns of EMA and MEGI correlate at 0.60, strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.60 over 3. Stretching to 5 years gives 0.53, with an annualized covariance of 202.8 %².
MEGI is one of the assets that tracks EMA most closely: it ranks #3 out of the 11 assets we track against EMA. On 12-month performance MEGI holds a 7.2-point edge, +7.5% against +14.7%.
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.
EMA vs MEGI: side by side
| EMA (Emera Incorporated) | MEGI (NYLI CBRE Global Infrastructure Megatrends Term Fund) | |
|---|---|---|
| 1-year return | +7.5% | +14.7% |
| 5-year return | +34.4% | +20.7% |
| Volatility (ann.) | 17.4% | 19.4% |
| Beta vs S&P 500 | 0.10 | 0.49 |
| Max drawdown (3Y) | -19.6% | -17.4% |
| Market cap | $15.4B | $0.8B |
| P/E (trailing) | 22.2 | 4.9 |
| Dividend yield | 5.77% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EMA | MEGI |
|---|---|---|
| 2022 | -19.3% | -23.3% |
| 2023 | +3.5% | +5.5% |
| 2024 | +6.3% | +5.2% |
| 2025 | +36.6% | +26.2% |
| 2026 | +3.6% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMA and MEGI good diversifiers for each other?
Only partially. A correlation of 0.60 means EMA and MEGI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EMA and MEGI?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.62 over the last year and 0.53 over 5 years.
Is MEGI a good diversifier for EMA?
Only partially. A correlation of 0.60 means EMA and MEGI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: EMA correlations · MEGI correlations
