CSQ vs GAM: Correlation
Measured on weekly returns over the past three years, Calamos Strategic Total Return Fund - Closed End Fund (CSQ) and General American Investors, Inc. (GAM) carry a correlation of 0.87, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSQ and GAM?
Across a 3-year window, the weekly returns of CSQ and GAM correlate at 0.87, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.82) sits close to the 3-year figure. Stretching to 5 years gives 0.90, with an annualized covariance of 221.8 %².
Among the 51 assets we track against CSQ, GAM ranks #16 by 3-year correlation. Twelve-month performance is nearly a tie, at +21.4% for CSQ and +26.1% for GAM.
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 GAM: side by side
| CSQ (Calamos Strategic Total Return Fund - Closed End Fund) | GAM (General American Investors, Inc.) | |
|---|---|---|
| 1-year return | +21.4% | +26.1% |
| 5-year return | +64.2% | +118.0% |
| Volatility (ann.) | 18.8% | 13.6% |
| Beta vs S&P 500 | 1.22 | 0.81 |
| Max drawdown (3Y) | -24.2% | -14.9% |
| Market cap | $3.4B | $1.6B |
| P/E (trailing) | 3.2 | 4.2 |
| Dividend yield | 2.95% | 9.47% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSQ | GAM |
|---|---|---|
| 2022 | -24.2% | -14.8% |
| 2023 | +20.9% | +26.8% |
| 2024 | +28.2% | +29.5% |
| 2025 | +16.3% | +28.6% |
| 2026 | +14.3% | +15.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSQ and GAM good diversifiers for each other?
No: a correlation of 0.87 means CSQ and GAM tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between CSQ and GAM?
Using weekly returns as of 2026-08-27: 0.87 over 3 years, with 0.82 over the last year and 0.90 over 5 years.
Is GAM a good diversifier for CSQ?
No: a correlation of 0.87 means CSQ and GAM tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.87 mean?
A reading of 0.87 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/csq-vs-gam.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/csq-vs-gam/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CSQ correlations · GAM correlations
