MEGI vs UTG: Correlation
How closely do NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI) and Reaves Utility Income Fund (UTG) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGI and UTG?
Over the past 3 years, MEGI and UTG moved with a correlation of 0.68, which is strong. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 250.2 %².
By 3-year correlation, UTG places #6 of the 29 assets tracked against MEGI. Over the last 12 months MEGI came out ahead by 7.9 percentage points (+14.7% against +6.8%).
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 UTG: side by side
| MEGI (NYLI CBRE Global Infrastructure Megatrends Term Fund) | UTG (Reaves Utility Income Fund) | |
|---|---|---|
| 1-year return | +14.7% | +6.8% |
| 5-year return | +20.7% | +53.5% |
| Volatility (ann.) | 19.4% | 19.1% |
| Beta vs S&P 500 | 0.49 | 0.67 |
| Max drawdown (3Y) | -17.4% | -14.9% |
| Market cap | $0.8B | $3.5B |
| P/E (trailing) | 4.9 | 2.8 |
| Dividend yield | 0.00% | 6.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MEGI | UTG |
|---|---|---|
| 2022 | -23.3% | -13.4% |
| 2023 | +5.5% | +2.8% |
| 2024 | +5.2% | +28.1% |
| 2025 | +26.2% | +23.2% |
| 2026 | +16.5% | +8.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGI and UTG good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MEGI and UTG?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.59 over the last year and 0.70 over 5 years.
Is UTG a good diversifier for MEGI?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 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/megi-vs-utg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/megi-vs-utg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MEGI correlations · UTG correlations
