MEGI vs O: Correlation
NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI) and Realty Income (O) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGI and O?
Across a 3-year window, the weekly returns of MEGI and O correlate at 0.64, strong. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Stretching to 5 years gives 0.59, with an annualized covariance of 214.4 %².
Within MEGI's tracked universe of 29 assets, O comes in at #8 by 3-year correlation. Their 12-month results are close: +14.7% for MEGI against +11.3% for O.
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.
MEGI vs O: side by side
| MEGI (NYLI CBRE Global Infrastructure Megatrends Term Fund) | O (Realty Income) | |
|---|---|---|
| 1-year return | +14.7% | +11.3% |
| 5-year return | +20.7% | +14.5% |
| Volatility (ann.) | 19.4% | 17.3% |
| Beta vs S&P 500 | 0.49 | 0.21 |
| Max drawdown (3Y) | -17.4% | -19.3% |
| Market cap | $0.8B | $58.5B |
| P/E (trailing) | 4.9 | 45.4 |
| Dividend yield | 0.00% | 5.20% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | MEGI | O |
|---|---|---|
| 2022 | -23.3% | -7.4% |
| 2023 | +5.5% | -4.5% |
| 2024 | +5.2% | -2.1% |
| 2025 | +26.2% | +12.2% |
| 2026 | +16.5% | +13.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGI and O good diversifiers for each other?
To a limited degree. At 0.64 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 MEGI and O?
The MEGI/O correlation stands at 0.64 on a 3-year window (1 year: 0.61, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is O a good diversifier for MEGI?
To a limited degree. At 0.64 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 0.64 mean?
A reading of 0.64 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/megi-vs-o.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/megi-vs-o/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MEGI correlations · O correlations
