CSQ vs IVV: Correlation
How closely do Calamos Strategic Total Return Fund - Closed End Fund (CSQ) and iShares Core S&P 500 ETF (IVV) trade together? Their weekly returns over three years give a correlation of 0.94, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSQ and IVV?
On 3 years of weekly data the CSQ/IVV correlation comes out at 0.94, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.95 lands near the 3-year figure. The 5-year figure is 0.93, and annualized covariance runs at 256.7 %².
IVV is one of the assets that tracks CSQ most closely: it ranks #1 out of the 51 assets we track against CSQ. Neither side won the trailing year by much: +21.4% against +20.7%.
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 IVV: side by side
| CSQ (Calamos Strategic Total Return Fund - Closed End Fund) | IVV (iShares Core S&P 500 ETF) | |
|---|---|---|
| 1-year return | +21.4% | +20.7% |
| 5-year return | +64.2% | +83.0% |
| Volatility (ann.) | 18.8% | 14.5% |
| Beta vs S&P 500 | 1.22 | 1.00 |
| Max drawdown (3Y) | -24.2% | -18.8% |
| Market cap | $3.4B | – |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 2.95% | 1.09% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $869.2B |
| Sector / category | US Listed | ETF · US Large Cap |
IVV is a Large Blend fund from iShares: $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield.
Year-by-year returns
| Year | CSQ | IVV |
|---|---|---|
| 2022 | -24.2% | -18.2% |
| 2023 | +20.9% | +26.3% |
| 2024 | +28.2% | +24.9% |
| 2025 | +16.3% | +17.8% |
| 2026 | +14.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSQ and IVV good diversifiers for each other?
No. With a correlation of 0.94, CSQ and IVV move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CSQ and IVV?
Using weekly returns as of 2026-08-27: 0.94 over 3 years, with 0.95 over the last year and 0.93 over 5 years.
Is IVV a good diversifier for CSQ?
No. With a correlation of 0.94, CSQ and IVV move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.94 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-ivv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/csq-vs-ivv/)
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Related comparisons
Hubs: CSQ correlations · IVV correlations
