BA vs CSQ: Correlation
How closely do Boeing (BA) and Calamos Strategic Total Return Fund - Closed End Fund (CSQ) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BA and CSQ?
Across a 3-year window, the weekly returns of BA and CSQ correlate at 0.56, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. Stretching to 5 years gives 0.52, with an annualized covariance of 383.5 %².
Within BA's tracked universe of 37 assets, CSQ comes in at #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CSQ ahead by 32.3 points (-10.9% versus +21.4%). Note the risk asymmetry: BA runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BA vs CSQ: side by side
| BA (Boeing) | CSQ (Calamos Strategic Total Return Fund - Closed End Fund) | |
|---|---|---|
| 1-year return | -10.9% | +21.4% |
| 5-year return | -3.6% | +64.2% |
| Volatility (ann.) | 36.4% | 18.8% |
| Beta vs S&P 500 | 1.43 | 1.22 |
| Max drawdown (3Y) | -48.3% | -24.2% |
| Market cap | $165.9B | $3.4B |
| P/E (trailing) | 76.3 | 3.2 |
| Dividend yield | 0.00% | 2.95% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | BA | CSQ |
|---|---|---|
| 2022 | -5.4% | -24.2% |
| 2023 | +36.8% | +20.9% |
| 2024 | -32.1% | +28.2% |
| 2025 | +22.7% | +16.3% |
| 2026 | -3.3% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BA and CSQ good diversifiers for each other?
Only partially. A correlation of 0.56 means BA and CSQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BA and CSQ?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.50 over the last year and 0.52 over 5 years.
Is CSQ a good diversifier for BA?
Only partially. A correlation of 0.56 means BA and CSQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 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/ba-vs-csq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ba-vs-csq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BA correlations · CSQ correlations
