CSQ vs EOI: Correlation
Measured on weekly returns over the past three years, Calamos Strategic Total Return Fund - Closed End Fund (CSQ) and Eaton Vance Enhance Equity Income Fund Eaton Vance Enhanced (EOI) carry a correlation of 0.84, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSQ and EOI?
Over the past 3 years, CSQ and EOI moved with a correlation of 0.84, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.79 lands near the 3-year figure. Over 5 years the correlation is 0.84, and the annualized covariance of weekly returns is 265.9 %².
Among the 51 assets we track against CSQ, EOI ranks #21 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CSQ ahead by 19.2 points (+21.4% versus +2.2%).
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.
CSQ vs EOI: side by side
| CSQ (Calamos Strategic Total Return Fund - Closed End Fund) | EOI (Eaton Vance Enhance Equity Income Fund Eaton Vance Enhanced) | |
|---|---|---|
| 1-year return | +21.4% | +2.2% |
| 5-year return | +64.2% | +55.4% |
| Volatility (ann.) | 18.8% | 17.0% |
| Beta vs S&P 500 | 1.22 | 0.96 |
| Max drawdown (3Y) | -24.2% | -23.2% |
| Market cap | $3.4B | $0.8B |
| P/E (trailing) | 3.2 | 8.5 |
| Dividend yield | 2.95% | 8.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSQ | EOI |
|---|---|---|
| 2022 | -24.2% | -19.7% |
| 2023 | +20.9% | +20.7% |
| 2024 | +28.2% | +35.8% |
| 2025 | +16.3% | +7.2% |
| 2026 | +14.3% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSQ and EOI good diversifiers for each other?
No. With a correlation of 0.84, CSQ and EOI move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CSQ and EOI?
Using weekly returns as of 2026-08-27: 0.84 over 3 years, with 0.79 over the last year and 0.84 over 5 years.
Is EOI a good diversifier for CSQ?
No. With a correlation of 0.84, CSQ and EOI move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.84 mean?
On the −1 to +1 scale, 0.84 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/csq-vs-eoi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/csq-vs-eoi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CSQ correlations · EOI correlations
