CCD vs CSQ: Correlation
Measured on weekly returns over the past three years, Calamos Dynamic Convertible & Income Fund - Closed End Fund (CCD) and Calamos Strategic Total Return Fund - Closed End Fund (CSQ) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCD and CSQ?
On 3 years of weekly data the CCD/CSQ correlation comes out at 0.74, strong. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. The 5-year figure is 0.76, and annualized covariance runs at 253.9 %².
Among the 10 assets we track against CCD, CSQ ranks #4 by 3-year correlation. On 12-month performance CCD holds a 14.0-point edge, +35.4% 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.
CCD vs CSQ: side by side
| CCD (Calamos Dynamic Convertible & Income Fund - Closed End Fund) | CSQ (Calamos Strategic Total Return Fund - Closed End Fund) | |
|---|---|---|
| 1-year return | +35.4% | +21.4% |
| 5-year return | +33.4% | +64.2% |
| Volatility (ann.) | 18.4% | 18.8% |
| Beta vs S&P 500 | 0.88 | 1.22 |
| Max drawdown (3Y) | -22.3% | -24.2% |
| Market cap | $0.7B | $3.4B |
| P/E (trailing) | 2.9 | 3.2 |
| Dividend yield | 0.00% | 2.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCD | CSQ |
|---|---|---|
| 2022 | -28.0% | -24.2% |
| 2023 | +8.0% | +20.9% |
| 2024 | +35.9% | +28.2% |
| 2025 | -4.3% | +16.3% |
| 2026 | +26.6% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCD and CSQ good diversifiers for each other?
Only partially. A correlation of 0.74 means CCD 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 CCD and CSQ?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.77 over the last year and 0.76 over 5 years.
Is CSQ a good diversifier for CCD?
Only partially. A correlation of 0.74 means CCD 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 0.74 mean?
A reading of 0.74 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ccd-vs-csq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ccd-vs-csq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCD correlations · CSQ correlations
