CSQ vs ETG: Correlation
Measured on weekly returns over the past three years, Calamos Strategic Total Return Fund - Closed End Fund (CSQ) and Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG) carry a correlation of 0.90, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSQ and ETG?
Across a 3-year window, the weekly returns of CSQ and ETG correlate at 0.90, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.84 over 1 year against 0.90 over 3. Stretching to 5 years gives 0.89, with an annualized covariance of 284.1 %².
Among the 51 assets we track against CSQ, ETG ranks #9 by 3-year correlation. Twelve-month performance is nearly a tie, at +21.4% for CSQ and +25.2% for ETG.
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 ETG: side by side
| CSQ (Calamos Strategic Total Return Fund - Closed End Fund) | ETG (Eaton Vance Tax-Advantaged Global Dividend Income Fund) | |
|---|---|---|
| 1-year return | +21.4% | +25.2% |
| 5-year return | +64.2% | +60.6% |
| Volatility (ann.) | 18.8% | 16.9% |
| Beta vs S&P 500 | 1.22 | 1.04 |
| Max drawdown (3Y) | -24.2% | -17.0% |
| Market cap | $3.4B | $1.9B |
| P/E (trailing) | 3.2 | 3.8 |
| Dividend yield | 2.95% | 6.41% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSQ | ETG |
|---|---|---|
| 2022 | -24.2% | -27.6% |
| 2023 | +20.9% | +22.0% |
| 2024 | +28.2% | +15.4% |
| 2025 | +16.3% | +36.9% |
| 2026 | +14.3% | +9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSQ and ETG good diversifiers for each other?
No. With a correlation of 0.90, CSQ and ETG move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CSQ and ETG?
The CSQ/ETG correlation stands at 0.90 on a 3-year window (1 year: 0.84, 5 years: 0.89), computed from weekly returns as of 2026-08-27.
Is ETG a good diversifier for CSQ?
No. With a correlation of 0.90, CSQ and ETG move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.90 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/csq-vs-etg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/csq-vs-etg/)
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Related comparisons
Hubs: CSQ correlations · ETG correlations
