CSQ vs QQQ: Correlation
Calamos Strategic Total Return Fund - Closed End Fund (CSQ) and Invesco QQQ Trust (QQQ) show a very strong relationship: their 3-year correlation of weekly returns is 0.90.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSQ and QQQ?
Over the past 3 years, CSQ and QQQ moved with a correlation of 0.90, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.92 lands near the 3-year figure. Over 5 years the correlation is 0.88, and the annualized covariance of weekly returns is 329.2 %².
Within CSQ's tracked universe of 51 assets, QQQ comes in at #10 by 3-year correlation. Their 12-month results are close: +21.4% for CSQ against +26.3% for QQQ.
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 QQQ: side by side
| CSQ (Calamos Strategic Total Return Fund - Closed End Fund) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | +21.4% | +26.3% |
| 5-year return | +64.2% | +95.4% |
| Volatility (ann.) | 18.8% | 19.6% |
| Beta vs S&P 500 | 1.22 | 1.28 |
| Max drawdown (3Y) | -24.2% | -22.8% |
| Market cap | $3.4B | – |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 2.95% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | CSQ | QQQ |
|---|---|---|
| 2022 | -24.2% | -32.6% |
| 2023 | +20.9% | +54.9% |
| 2024 | +28.2% | +25.6% |
| 2025 | +16.3% | +20.8% |
| 2026 | +14.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSQ and QQQ good diversifiers for each other?
Not really. At 0.90, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between CSQ and QQQ?
As of 2026-08-27, the correlation of weekly returns between CSQ and QQQ is 0.90 over 3 years, 0.92 over 1 year and 0.88 over 5 years.
Is QQQ a good diversifier for CSQ?
Not really. At 0.90, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.90 mean?
On the −1 to +1 scale, 0.90 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-qqq.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/csq-vs-qqq/)
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Related comparisons
Hubs: CSQ correlations · QQQ correlations
