CCL vs. SPY
CCL (Carnival Corporation & Plc) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, CCL returned -3.48%/yr vs 15.07%/yr for SPY. Their 0.51 correlation means they have sometimes moved together and sometimes differently.
Performance
CCL vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, CCL achieves a -7.96% return, which is significantly lower than SPY's 10.13% return. Over the past 10 years, CCL has underperformed SPY with an annualized return of -3.48%, while SPY has yielded a comparatively higher 15.07% annualized return.
CCL
- 1D
- 0.14%
- 1M
- -0.36%
- 6M
- -6.36%
- YTD
- -7.96%
- 1Y
- -3.30%
- 3Y*
- 16.04%
- 5Y*
- 5.36%
- 10Y*
- -3.48%
- ALL TIME*
- 7.40%
SPY
- 1D
- 0.72%
- 1M
- 0.30%
- 6M
- 8.53%
- YTD
- 10.13%
- 1Y
- 21.49%
- 3Y*
- 19.32%
- 5Y*
- 12.76%
- 10Y*
- 15.07%
- ALL TIME*
- 10.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $556.93M | $506.56M | $697.10M | |
| $37.27B | $35.99B | $39.23B |
CCL vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CCL Carnival Corporation & Plc | -7.96% | 22.55% | 34.41% | 130.02% | -59.94% | -7.11% | -56.89% | 7.37% | -23.40% | 30.76% |
SPY State Street SPDR S&P 500 ETF | 10.13% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between CCL and SPY is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.54 |
Correlation (3Y) Balances recent behavior with more history. | 0.53 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.56 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 1993 | 0.51 |
The correlation between CCL and SPY has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.
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Return for Risk
CCL vs. SPY — Risk / Return Rank
CCL
SPY
CCL vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Carnival Corporation & Plc (CCL) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CCL | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.27 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | 2.20 | -2.39 |
| Martin ratioReturn relative to average drawdown | -0.35 | 9.40 | -9.75 |
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Drawdowns
CCL vs. SPY - Drawdown Comparison
The maximum CCL drawdown since its inception was -90.37%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CCL and SPY.
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Drawdown Indicators
| CCL | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.37% | -55.19% | -35.18% |
Max Drawdown (1Y)Largest decline over 1 year | -29.30% | -8.88% | -20.42% |
Max Drawdown (3Y)Largest decline over 3 years | -42.33% | -18.76% | -23.57% |
Max Drawdown (5Y)Largest decline over 5 years | -75.82% | -24.50% | -51.32% |
Max Drawdown (10Y)Largest decline over 10 years | -90.37% | -33.72% | -56.65% |
Current DrawdownCurrent decline from peak | -57.55% | -1.40% | -56.15% |
Average DrawdownAverage peak-to-trough decline | -28.68% | -9.01% | -19.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.88% | 2.08% | +13.80% |
Volatility
CCL vs. SPY - Volatility Comparison
Carnival Corporation & Plc (CCL) has a higher volatility of 10.77% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that CCL's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CCL | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.77% | 3.58% | +7.19% |
Volatility (6M)Calculated over the trailing 6-month period | 38.02% | 10.14% | +27.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.54% | 12.89% | +34.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.14% | 17.18% | +37.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.71% | 17.95% | +39.76% |
Dividends
CCL vs. SPY - Dividend Comparison
CCL's dividend yield for the trailing twelve months is around 1.08%, more than SPY's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCL Carnival Corporation & Plc | 1.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.31% | 3.93% | 3.96% | 2.41% | 2.59% | 2.02% |
SPY State Street SPDR S&P 500 ETF | 1.01% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
CCL and SPY have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CCL has higher volatility (10.77%) compared to SPY (3.58%). In terms of maximum drawdown, CCL dropped -90.37% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.52 vs -0.12), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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