ERH vs MEGI: Correlation
Measured on weekly returns over the past three years, Allspring Utilities and High Income Fund (ERH) and NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERH and MEGI?
On 3 years of weekly data the ERH/MEGI correlation comes out at 0.74, strong. Little has changed lately, as the 1-year reading of 0.74 lands near the 3-year figure. The 5-year figure is 0.71, and annualized covariance runs at 214.6 %².
Within ERH's tracked universe of 21 assets, MEGI comes in at #5 by 3-year correlation. The trailing year gives MEGI the advantage: +3.2% versus +14.7%, a 11.5-point spread.
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.
ERH vs MEGI: side by side
| ERH (Allspring Utilities and High Income Fund) | MEGI (NYLI CBRE Global Infrastructure Megatrends Term Fund) | |
|---|---|---|
| 1-year return | +3.2% | +14.7% |
| 5-year return | +17.1% | +20.7% |
| Volatility (ann.) | 14.9% | 19.4% |
| Beta vs S&P 500 | 0.33 | 0.49 |
| Max drawdown (3Y) | -16.2% | -17.4% |
| Market cap | – | $0.8B |
| P/E (trailing) | 4.6 | 4.9 |
| Dividend yield | 8.46% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERH | MEGI |
|---|---|---|
| 2022 | -18.4% | -23.3% |
| 2023 | -10.5% | +5.5% |
| 2024 | +25.7% | +5.2% |
| 2025 | +19.8% | +26.2% |
| 2026 | +2.9% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERH and MEGI good diversifiers for each other?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ERH and MEGI?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.74 over the last year and 0.71 over 5 years.
Is MEGI a good diversifier for ERH?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.74 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/erh-vs-megi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/erh-vs-megi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ERH correlations · MEGI correlations
