CGO vs SMCI: Correlation
Measured on weekly returns over the past three years, Calamos Global Total Return Fund - Closed End Fund (CGO) and Supermicro (SMCI) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGO and SMCI?
Over the past 3 years, CGO and SMCI moved with a correlation of 0.45, which is moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 927.4 %².
Within CGO's tracked universe of 16 assets, SMCI comes in at #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CGO ahead by 36.2 points (+22.1% versus -14.1%). Risk is not evenly split, since SMCI carries 5.6 times the volatility of the other side.
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 SMCI: side by side
| CGO (Calamos Global Total Return Fund - Closed End Fund) | SMCI (Supermicro) | |
|---|---|---|
| 1-year return | +22.1% | -14.1% |
| 5-year return | +21.0% | +983.4% |
| Volatility (ann.) | 19.2% | 107.1% |
| Beta vs S&P 500 | 1.04 | 3.08 |
| Max drawdown (3Y) | -26.7% | -84.8% |
| Market cap | $0.1B | $24.9B |
| P/E (trailing) | 2.9 | 11.5 |
| Dividend yield | 7.31% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | CGO | SMCI |
|---|---|---|
| 2022 | -36.6% | +86.8% |
| 2023 | +14.0% | +246.2% |
| 2024 | +36.8% | +7.2% |
| 2025 | +8.9% | -4.0% |
| 2026 | +20.3% | +31.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGO and SMCI good diversifiers for each other?
Reasonably. At 0.45, CGO and SMCI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CGO and SMCI?
As of 2026-08-27, the correlation of weekly returns between CGO and SMCI is 0.45 over 3 years, 0.44 over 1 year and 0.34 over 5 years.
Is SMCI a good diversifier for CGO?
Reasonably. At 0.45, CGO and SMCI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 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/cgo-vs-smci.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cgo-vs-smci/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CGO correlations · SMCI correlations
