Short-range magnetic correlation, metamagnetism, and coincident dielectric anomaly in <mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML"><mml:mrow><mml:msub><mml:mi>Na</mml:mi><mml:mn>5</mml:mn></mml:msub><mml:msub><mml:mi>Co</mml:mi><mml:mrow><mml:mn>15.5</mml:mn></mml:mrow></mml:msub><mml:msub><mml:mi>Te</mml:mi><mml:mn>6</mml:mn></mml:msub><mml:msub><mml:mi mathvariant="normal">O</mml:mi><mml:mn>36</mml:mn></mml:msub></mml:mrow></mml:math>

Here we explore the structural, magnetic and dielectric properties of Co based compound Na$_5$Co$_{15.5}$Te$_6$O$_{36}$ as a candidate short-range correlations driven development anomaly above N$\acute{e}$el temperature ($T_N$=) 50 K. Low neutron powder diffraction (NPD) in zero applied field clearly indicates that canted spin structure is responsible for antiferromagnetic transition partially occupied form short range correlation with other Co, which further facilitates structural distortion consequent transition. Additionally, dependent heat capacity electron resonance measurements reveal presence coincides an constant vs curve. Moreover, significant changes lattice parameters are also observed around same temperature, indicating noticeable spin-lattice coupling. Further, sharp jump magnetization metamagnetic NPD confirms rotations spins this phase As result, causes magnetocaloric effect to be developed system, suitable application low refrigeration.