GLQ vs TSI: Correlation
Clough Global Equity Fund (GLQ) and TCW Strategic Income Fund, Inc. (TSI) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLQ and TSI?
On 3 years of weekly data the GLQ/TSI correlation comes out at 0.50, moderate. The past 12 months show a weaker link (0.38) than the 3-year average (0.50). The 5-year figure is 0.38, and annualized covariance runs at 57.2 %².
Within GLQ's tracked universe of 21 assets, TSI comes in at #16 by 3-year correlation. The last year tells two different stories: GLQ led by 24.5 percentage points, +21.6% for GLQ against -2.9% for TSI. Note the risk asymmetry: GLQ runs 2.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GLQ vs TSI: side by side
| GLQ (Clough Global Equity Fund) | TSI (TCW Strategic Income Fund, Inc.) | |
|---|---|---|
| 1-year return | +21.6% | -2.9% |
| 5-year return | -3.8% | +12.9% |
| Volatility (ann.) | 16.6% | 6.9% |
| Beta vs S&P 500 | 1.00 | 0.21 |
| Max drawdown (3Y) | -19.2% | -8.3% |
| Market cap | – | $0.3B |
| P/E (trailing) | 2.7 | 10.7 |
| Dividend yield | 9.99% | 5.91% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GLQ | TSI |
|---|---|---|
| 2022 | -42.3% | -12.8% |
| 2023 | +2.8% | +7.1% |
| 2024 | +25.2% | +13.5% |
| 2025 | +28.5% | +9.7% |
| 2026 | +13.2% | -6.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLQ and TSI good diversifiers for each other?
Only partially. A correlation of 0.50 means GLQ and TSI 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 GLQ and TSI?
As of 2026-08-27, the correlation of weekly returns between GLQ and TSI is 0.50 over 3 years, 0.38 over 1 year and 0.38 over 5 years.
Is TSI a good diversifier for GLQ?
Only partially. A correlation of 0.50 means GLQ and TSI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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/glq-vs-tsi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/glq-vs-tsi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GLQ correlations · TSI correlations
