Convertibles would be fine, as long as you removed the windshield and completely smoothed over the whole passenger compartment at the level of the top of the doors.
The windshield being there means that the A (frontal area) is just about the same as the full-roofed version of the car. All of the non-smooth shapes in the passenger compartment (seats, roll bar if any, boot for the top or the folded-up top, and of course the driver and passengers!) increase the Cd a whole lot. So on the whole, convertibles are rather horrible for aerodynamics.
-soD
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