CSQ vs XYZ: Correlation
Calamos Strategic Total Return Fund - Closed End Fund (CSQ) and Block, Inc. (XYZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSQ and XYZ?
On 3 years of weekly data the CSQ/XYZ correlation comes out at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. The 5-year figure is 0.62, and annualized covariance runs at 485.2 %².
Within CSQ's tracked universe of 51 assets, XYZ comes in at #41 by 3-year correlation. The trailing year gives CSQ the advantage: +21.4% versus +6.9%, a 14.5-point spread. One caveat on sizing: XYZ is 2.7 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 XYZ: side by side
| CSQ (Calamos Strategic Total Return Fund - Closed End Fund) | XYZ (Block, Inc.) | |
|---|---|---|
| 1-year return | +21.4% | +6.9% |
| 5-year return | +64.2% | -68.8% |
| Volatility (ann.) | 18.8% | 50.2% |
| Beta vs S&P 500 | 1.22 | 1.80 |
| Max drawdown (3Y) | -24.2% | -53.0% |
| Market cap | $3.4B | $51.0B |
| P/E (trailing) | 3.2 | 151.5 |
| Dividend yield | 2.95% | 0.00% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | CSQ | XYZ |
|---|---|---|
| 2022 | -24.2% | -61.1% |
| 2023 | +20.9% | +23.1% |
| 2024 | +28.2% | +9.9% |
| 2025 | +16.3% | -23.4% |
| 2026 | +14.3% | +30.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSQ and XYZ good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CSQ and XYZ?
The CSQ/XYZ correlation stands at 0.51 on a 3-year window (1 year: 0.45, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is XYZ a good diversifier for CSQ?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 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-xyz.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/csq-vs-xyz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CSQ correlations · XYZ correlations
