AVK vs CSQ: Correlation
Measured on weekly returns over the past three years, Advent Convertible and Income Fund (AVK) and Calamos Strategic Total Return Fund - Closed End Fund (CSQ) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVK and CSQ?
Across a 3-year window, the weekly returns of AVK and CSQ correlate at 0.78, strong. The relationship has been stable: the 1-year correlation (0.88) sits close to the 3-year figure. Stretching to 5 years gives 0.76, with an annualized covariance of 244.2 %².
Few assets follow AVK as closely as CSQ, which ranks #2 of 12 tracked partners. On 12-month performance CSQ holds a 8.8-point edge, +12.6% against +21.4%.
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.
AVK vs CSQ: side by side
| AVK (Advent Convertible and Income Fund) | CSQ (Calamos Strategic Total Return Fund - Closed End Fund) | |
|---|---|---|
| 1-year return | +12.6% | +21.4% |
| 5-year return | +28.2% | +64.2% |
| Volatility (ann.) | 16.6% | 18.8% |
| Beta vs S&P 500 | 0.83 | 1.22 |
| Max drawdown (3Y) | -17.7% | -24.2% |
| Market cap | – | $3.4B |
| P/E (trailing) | 3.8 | 3.2 |
| Dividend yield | 11.20% | 2.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVK | CSQ |
|---|---|---|
| 2022 | -34.5% | -24.2% |
| 2023 | +18.1% | +20.9% |
| 2024 | +19.4% | +28.2% |
| 2025 | +19.6% | +16.3% |
| 2026 | +7.9% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVK and CSQ good diversifiers for each other?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AVK and CSQ?
As of 2026-08-27, the correlation of weekly returns between AVK and CSQ is 0.78 over 3 years, 0.88 over 1 year and 0.76 over 5 years.
Is CSQ a good diversifier for AVK?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.78 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/avk-vs-csq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avk-vs-csq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AVK correlations · CSQ correlations
