MEGI vs SBAC: Correlation
How closely do NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI) and SBA Communications (SBAC) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGI and SBAC?
Over the past 3 years, MEGI and SBAC moved with a correlation of 0.54, which is moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.54 over 3. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 313.8 %².
By 3-year correlation, SBAC places #16 of the 29 assets tracked against MEGI. The last year tells two different stories: MEGI led by 22.6 percentage points, +14.7% for MEGI against -7.9% for SBAC. Risk is not evenly split, since SBAC carries 1.6 times the volatility of the other side.
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 SBAC: side by side
| MEGI (NYLI CBRE Global Infrastructure Megatrends Term Fund) | SBAC (SBA Communications) | |
|---|---|---|
| 1-year return | +14.7% | -7.9% |
| 5-year return | +20.7% | -43.3% |
| Volatility (ann.) | 19.4% | 30.1% |
| Beta vs S&P 500 | 0.49 | 0.42 |
| Max drawdown (3Y) | -17.4% | -32.2% |
| Market cap | $0.8B | $19.8B |
| P/E (trailing) | 4.9 | 20.0 |
| Dividend yield | 0.00% | 2.54% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | MEGI | SBAC |
|---|---|---|
| 2022 | -23.3% | -27.3% |
| 2023 | +5.5% | -8.2% |
| 2024 | +5.2% | -18.2% |
| 2025 | +26.2% | -3.1% |
| 2026 | +16.5% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGI and SBAC good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MEGI and SBAC?
The MEGI/SBAC correlation stands at 0.54 on a 3-year window (1 year: 0.50, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is SBAC a good diversifier for MEGI?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 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
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Related comparisons
Hubs: MEGI correlations · SBAC correlations
