CSQ vs MIST: Correlation
Calamos Strategic Total Return Fund - Closed End Fund (CSQ) and Milestone Pharmaceuticals Inc. (MIST) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSQ and MIST?
Over the past 3 years, CSQ and MIST moved with a correlation of 0.46, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.57 versus 0.46 over 3 years. Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 778.6 %².
Among the 51 assets we track against CSQ, MIST ranks #45 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CSQ ahead by 54.2 points (+21.4% versus -32.8%). One caveat on sizing: MIST is 4.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 MIST: side by side
| CSQ (Calamos Strategic Total Return Fund - Closed End Fund) | MIST (Milestone Pharmaceuticals Inc.) | |
|---|---|---|
| 1-year return | +21.4% | -32.8% |
| 5-year return | +64.2% | -80.4% |
| Volatility (ann.) | 18.8% | 91.2% |
| Beta vs S&P 500 | 1.22 | 2.57 |
| Max drawdown (3Y) | -24.2% | -80.7% |
| Market cap | $3.4B | $0.1B |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 2.95% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSQ | MIST |
|---|---|---|
| 2022 | -24.2% | -39.5% |
| 2023 | +20.9% | -57.8% |
| 2024 | +28.2% | +41.3% |
| 2025 | +16.3% | -14.4% |
| 2026 | +14.3% | -41.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSQ and MIST good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CSQ and MIST?
As of 2026-08-27, the correlation of weekly returns between CSQ and MIST is 0.46 over 3 years, 0.57 over 1 year and 0.33 over 5 years.
Is MIST a good diversifier for CSQ?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 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-mist.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/csq-vs-mist/)
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Related comparisons
Hubs: CSQ correlations · MIST correlations
