MEGI vs TIGO: Correlation
Measured on weekly returns over the past three years, NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI) and Millicom International Cellular S.A. (TIGO) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGI and TIGO?
Over the past 3 years, MEGI and TIGO moved with a correlation of 0.43, which is moderate. Little has changed lately, as the 1-year reading of 0.36 lands near the 3-year figure. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 264.4 %².
Within MEGI's tracked universe of 29 assets, TIGO comes in at #19 by 3-year correlation. The last year tells two different stories: TIGO led by 99.3 percentage points, +14.7% for MEGI against +114.0% for TIGO. Risk is not evenly split, since TIGO 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 TIGO: side by side
| MEGI (NYLI CBRE Global Infrastructure Megatrends Term Fund) | TIGO (Millicom International Cellular S.A.) | |
|---|---|---|
| 1-year return | +14.7% | +114.0% |
| 5-year return | +20.7% | +193.9% |
| Volatility (ann.) | 19.4% | 31.5% |
| Beta vs S&P 500 | 0.49 | 0.20 |
| Max drawdown (3Y) | -17.4% | -17.7% |
| Market cap | $0.8B | $15.6B |
| P/E (trailing) | 4.9 | 23.3 |
| Dividend yield | 0.00% | 3.12% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MEGI | TIGO |
|---|---|---|
| 2022 | -23.3% | -55.6% |
| 2023 | +5.5% | +42.5% |
| 2024 | +5.2% | +38.9% |
| 2025 | +26.2% | +152.3% |
| 2026 | +16.5% | +76.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGI and TIGO good diversifiers for each other?
Reasonably. At 0.43, MEGI and TIGO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MEGI and TIGO?
As of 2026-08-27, the correlation of weekly returns between MEGI and TIGO is 0.43 over 3 years, 0.36 over 1 year and 0.35 over 5 years.
Is TIGO a good diversifier for MEGI?
Reasonably. At 0.43, MEGI and TIGO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 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-tigo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/megi-vs-tigo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MEGI correlations · TIGO correlations
