CHW vs MU: Correlation
Calamos Global Dynamic Income Fund - Closed End Fund (CHW) and Micron Technology (MU) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHW and MU?
On 3 years of weekly data the CHW/MU correlation comes out at 0.63, strong. Recent behaviour matches the longer record: 0.66 over 1 year against 0.63 over 3. The 5-year figure is 0.54, and annualized covariance runs at 741.6 %².
MU is close to the least connected end of CHW's tracked universe, ranking #14 of 17. The last year tells two different stories: MU led by 668.9 percentage points, +26.8% for CHW against +695.7% for MU. Risk is not evenly split, since MU carries 3.4 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.
CHW vs MU: side by side
| CHW (Calamos Global Dynamic Income Fund - Closed End Fund) | MU (Micron Technology) | |
|---|---|---|
| 1-year return | +26.8% | +695.7% |
| 5-year return | +27.6% | +1211.2% |
| Volatility (ann.) | 18.6% | 63.3% |
| Beta vs S&P 500 | 1.05 | 2.47 |
| Max drawdown (3Y) | -20.4% | -57.6% |
| Market cap | – | – |
| P/E (trailing) | 3.0 | 21.2 |
| Dividend yield | 7.03% | 0.06% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | CHW | MU |
|---|---|---|
| 2022 | -37.7% | -45.9% |
| 2023 | +14.5% | +71.9% |
| 2024 | +27.8% | -1.0% |
| 2025 | +19.6% | +240.2% |
| 2026 | +20.8% | +227.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHW and MU good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CHW and MU?
The CHW/MU correlation stands at 0.63 on a 3-year window (1 year: 0.66, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is MU a good diversifier for CHW?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 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/chw-vs-mu.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/chw-vs-mu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CHW correlations · MU correlations
