Owing to their exceptional mechanical, electronic, and phononic transport properties, compositionally complex alloys, including high-entropy alloys, represent an important class of materials. However, the interplay between chemical disorder and electronic correlations, and its influence on electronic structure-derived properties, remains largely unexplored. This is addressed for the archetypal CrMnFeCoNi alloy using resonant and valence band photoemission spectroscopy, electrical resistivity, and optical conductivity measurements, complemented by linear response calculations based on density functional theory. Utilizing dynamical mean-field theory, correlation signatures and damping in the spectra are identified, highlighting the significance of many-body effects, particularly in states distant from the Fermi edge. Electronic transport remains dominated by disorder and potentially short-range order, especially at low temperatures, while visible-spectrum optical conductivity and high-temperature transport are influenced by short quasiparticle lifetimes. These findings improve our understanding of element-specific electronic correlations in compositionally complex alloys and facilitate the development of advanced materials with tailored electronic properties.