CGO vs QQQ: Correlation
Calamos Global Total Return Fund - Closed End Fund (CGO) and Invesco QQQ Trust (QQQ) show a strong relationship: their 3-year correlation of weekly returns is 0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGO and QQQ?
On 3 years of weekly data the CGO/QQQ correlation comes out at 0.76, strong. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. The 5-year figure is 0.67, and annualized covariance runs at 285.0 %².
Within CGO's tracked universe of 16 assets, QQQ comes in at #7 by 3-year correlation. Their 12-month results are close: +22.1% for CGO against +26.3% for QQQ.
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 QQQ: side by side
| CGO (Calamos Global Total Return Fund - Closed End Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +22.1% | +26.3% |
| 5-year return | +21.0% | +95.4% |
| Volatility (ann.) | 19.2% | 19.6% |
| Beta vs S&P 500 | 1.04 | 1.28 |
| Max drawdown (3Y) | -26.7% | -22.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 2.9 | – |
| Dividend yield | 7.31% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | CGO | QQQ |
|---|---|---|
| 2022 | -36.6% | -32.6% |
| 2023 | +14.0% | +54.9% |
| 2024 | +36.8% | +25.6% |
| 2025 | +8.9% | +20.8% |
| 2026 | +20.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGO and QQQ good diversifiers for each other?
Only partially. A correlation of 0.76 means CGO and QQQ 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 CGO and QQQ?
As of 2026-08-27, the correlation of weekly returns between CGO and QQQ is 0.76 over 3 years, 0.77 over 1 year and 0.67 over 5 years.
Is QQQ a good diversifier for CGO?
Only partially. A correlation of 0.76 means CGO and QQQ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.76 mean?
A reading of 0.76 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/cgo-vs-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cgo-vs-qqq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CGO correlations · QQQ correlations
