CGO vs CSQ: Correlation
Measured on weekly returns over the past three years, Calamos Global Total Return Fund - Closed End Fund (CGO) and Calamos Strategic Total Return Fund - Closed End Fund (CSQ) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGO and CSQ?
Over the past 3 years, CGO and CSQ moved with a correlation of 0.80, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.83 over 1 year against 0.80 over 3. Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 290.0 %².
By 3-year correlation, CSQ places #5 of the 16 assets tracked against CGO. Neither side won the trailing year by much: +22.1% 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.
CGO vs CSQ: side by side
| CGO (Calamos Global Total Return Fund - Closed End Fund) | CSQ (Calamos Strategic Total Return Fund - Closed End Fund) | |
|---|---|---|
| 1-year return | +22.1% | +21.4% |
| 5-year return | +21.0% | +64.2% |
| Volatility (ann.) | 19.2% | 18.8% |
| Beta vs S&P 500 | 1.04 | 1.22 |
| Max drawdown (3Y) | -26.7% | -24.2% |
| Market cap | $0.1B | $3.4B |
| P/E (trailing) | 2.9 | 3.2 |
| Dividend yield | 7.31% | 2.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGO | CSQ |
|---|---|---|
| 2022 | -36.6% | -24.2% |
| 2023 | +14.0% | +20.9% |
| 2024 | +36.8% | +28.2% |
| 2025 | +8.9% | +16.3% |
| 2026 | +20.3% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGO and CSQ good diversifiers for each other?
No: a correlation of 0.80 means CGO and CSQ tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CGO and CSQ?
The CGO/CSQ correlation stands at 0.80 on a 3-year window (1 year: 0.83, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is CSQ a good diversifier for CGO?
No: a correlation of 0.80 means CGO and CSQ tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.80 mean?
On the −1 to +1 scale, 0.80 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cgo-vs-csq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cgo-vs-csq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CGO correlations · CSQ correlations
