CII vs CSQ: Correlation
BlackRock Enhanced Large Cap Core Fund, Inc. (CII) and Calamos Strategic Total Return Fund - Closed End Fund (CSQ) show a very strong relationship: their 3-year correlation of weekly returns is 0.82.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CII and CSQ?
On 3 years of weekly data the CII/CSQ correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.68) runs below the 3-year figure (0.82). The 5-year figure is 0.86, and annualized covariance runs at 273.0 %².
In CII's tracked universe of 12 assets, CSQ sits right near the top at #3. On 12-month performance CII holds a 9.6-point edge, +31.0% 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.
CII vs CSQ: side by side
| CII (BlackRock Enhanced Large Cap Core Fund, Inc.) | CSQ (Calamos Strategic Total Return Fund - Closed End Fund) | |
|---|---|---|
| 1-year return | +31.0% | +21.4% |
| 5-year return | +85.9% | +64.2% |
| Volatility (ann.) | 17.7% | 18.8% |
| Beta vs S&P 500 | 0.97 | 1.22 |
| Max drawdown (3Y) | -21.1% | -24.2% |
| Market cap | $1.0B | $3.4B |
| P/E (trailing) | 4.8 | 3.2 |
| Dividend yield | 8.38% | 2.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CII | CSQ |
|---|---|---|
| 2022 | -13.2% | -24.2% |
| 2023 | +18.5% | +20.9% |
| 2024 | +12.7% | +28.2% |
| 2025 | +37.8% | +16.3% |
| 2026 | +11.2% | +14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CII and CSQ good diversifiers for each other?
No. With a correlation of 0.82, CII and CSQ move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CII and CSQ?
The CII/CSQ correlation stands at 0.82 on a 3-year window (1 year: 0.68, 5 years: 0.86), computed from weekly returns as of 2026-08-27.
Is CSQ a good diversifier for CII?
No. With a correlation of 0.82, CII and CSQ move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.82 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/cii-vs-csq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cii-vs-csq/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CII correlations · CSQ correlations
