CSQ vs XLY: Correlation
Measured on weekly returns over the past three years, Calamos Strategic Total Return Fund - Closed End Fund (CSQ) and Consumer Discretionary Select Sector SPDR Fund (XLY) carry a correlation of 0.79, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSQ and XLY?
Across a 3-year window, the weekly returns of CSQ and XLY correlate at 0.79, strong. The relationship has been stable: the 1-year correlation (0.79) sits close to the 3-year figure. Stretching to 5 years gives 0.83, with an annualized covariance of 292.5 %².
Among the 51 assets we track against CSQ, XLY ranks #27 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CSQ outperformed by 21.5 percentage points (+21.4% for CSQ against -0.1% for XLY).
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 XLY: side by side
| CSQ (Calamos Strategic Total Return Fund - Closed End Fund) | XLY (Consumer Discretionary Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +21.4% | -0.1% |
| 5-year return | +64.2% | +31.8% |
| Volatility (ann.) | 18.8% | 19.7% |
| Beta vs S&P 500 | 1.22 | 1.15 |
| Max drawdown (3Y) | -24.2% | -26.0% |
| Market cap | $3.4B | – |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 2.95% | 0.78% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $22.5B |
| Sector / category | US Listed | Sector ETF |
XLY is a Consumer Cyclical fund from State Street Investment Management: $22.5B under management, 47 holdings, a 0.08% expense ratio, a 0.78% trailing dividend yield.
Year-by-year returns
| Year | CSQ | XLY |
|---|---|---|
| 2022 | -24.2% | -36.3% |
| 2023 | +20.9% | +39.6% |
| 2024 | +28.2% | +26.5% |
| 2025 | +16.3% | +7.4% |
| 2026 | +14.3% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSQ and XLY good diversifiers for each other?
Only partially. A correlation of 0.79 means CSQ and XLY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CSQ and XLY?
The CSQ/XLY correlation stands at 0.79 on a 3-year window (1 year: 0.79, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is XLY a good diversifier for CSQ?
Only partially. A correlation of 0.79 means CSQ and XLY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.79 mean?
On the −1 to +1 scale, 0.79 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-xly.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/csq-vs-xly/)
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Related comparisons
Hubs: CSQ correlations · XLY correlations
