MEGI vs TDS: Correlation
How closely do NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI) and Telephone and Data Systems, Inc. (TDS) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGI and TDS?
Across a 3-year window, the weekly returns of MEGI and TDS correlate at 0.42, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. Stretching to 5 years gives 0.20, with an annualized covariance of 384.5 %².
Within MEGI's tracked universe of 29 assets, TDS comes in at #20 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MEGI ahead by 31.7 points (+14.7% versus -17.0%). Risk is not evenly split, since TDS carries 2.4 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 TDS: side by side
| MEGI (NYLI CBRE Global Infrastructure Megatrends Term Fund) | TDS (Telephone and Data Systems, Inc.) | |
|---|---|---|
| 1-year return | +14.7% | -17.0% |
| 5-year return | +20.7% | +91.9% |
| Volatility (ann.) | 19.4% | 46.7% |
| Beta vs S&P 500 | 0.49 | 0.86 |
| Max drawdown (3Y) | -17.4% | -33.4% |
| Market cap | $0.8B | $3.8B |
| P/E (trailing) | 4.9 | 8.3 |
| Dividend yield | 0.00% | 0.48% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MEGI | TDS |
|---|---|---|
| 2022 | -23.3% | -45.3% |
| 2023 | +5.5% | +86.3% |
| 2024 | +5.2% | +89.0% |
| 2025 | +26.2% | +20.7% |
| 2026 | +16.5% | -19.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGI and TDS good diversifiers for each other?
Reasonably. At 0.42, MEGI and TDS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MEGI and TDS?
The MEGI/TDS correlation stands at 0.42 on a 3-year window (1 year: 0.46, 5 years: 0.20), computed from weekly returns as of 2026-08-27.
Is TDS a good diversifier for MEGI?
Reasonably. At 0.42, MEGI and TDS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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
$ curl https://www.pairbook.io/api/v1/pairs/megi-vs-tds.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/megi-vs-tds/)
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Related comparisons
Hubs: MEGI correlations · TDS correlations
