CEG vs. DIA

Last updated Jun 13, 2026

CEG (Constellation Energy Corp) is a stock, while DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) is Large Cap Blend Equities fund tracking the Dow Jones Industrial Average. Over the past 3 years, CEG returned 40.06%/yr vs 16.29%/yr for DIA. At a 0.38 correlation, their price movements are largely independent.

Performance

CEG vs. DIA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Constellation Energy Corp (CEG) and State Street SPDR Dow Jones Industrial Average ETF Trust (DIA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CEG achieves a -27.96% return, which is significantly lower than DIA's 7.27% return.

CEG

• 1D: 2.86%
• 1M: -7.54%
• YTD: -27.96%
• 6M: -27.70%
• 1Y: -15.08%
• 3Y*: 40.06%
• 5Y*: —
• 10Y*: —

DIA

• 1D: 0.73%
• 1M: 3.26%
• YTD: 7.27%
• 6M: 6.43%
• 1Y: 21.01%
• 3Y*: 16.29%
• 5Y*: 10.14%
• 10Y*: 13.40%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CEG vs. DIA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CEG Constellation Energy Corp	-27.96%	58.80%	92.71%	37.24%	73.87%
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	7.27%	14.71%	14.82%	16.02%	-4.62%

Correlation

The correlation between CEG and DIA is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (All Time) Calculated using the full available price history since Feb 2, 2022	0.38

The correlation between CEG and DIA shifts across timeframes, from 0.27 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CEG vs. DIA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CEG

CEG Risk / Return Rank: 29
CEG Sharpe Ratio Rank: 29
CEG Sortino Ratio Rank: 28
CEG Omega Ratio Rank: 28
CEG Calmar Ratio Rank: 31
CEG Martin Ratio Rank: 28

DIA

DIA Risk / Return Rank: 55
DIA Sharpe Ratio Rank: 57
DIA Sortino Ratio Rank: 60
DIA Omega Ratio Rank: 55
DIA Calmar Ratio Rank: 49
DIA Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CEG vs. DIA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Constellation Energy Corp (CEG) and State Street SPDR Dow Jones Industrial Average ETF Trust (DIA). 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.

	CEG	DIA	Difference
Sharpe ratio: Return per unit of total volatility	-0.32	1.69	-2.01
Sortino ratio: Return per unit of downside risk	-0.16	2.46	-2.62
Omega ratio: Gain probability vs. loss probability	0.98	1.30	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.38	2.16	-2.54
Martin ratio: Return relative to average drawdown	-0.78	8.35	-9.13

CEG vs. DIA - Sharpe Ratio Comparison

The current CEG Sharpe Ratio is -0.32, which is lower than the DIA Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of CEG and DIA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CEG vs. DIA - Drawdown Comparison

The maximum CEG drawdown since its inception was -50.70%, roughly equal to the maximum DIA drawdown of -51.87%. Use the drawdown chart below to compare losses from any high point for CEG and DIA.

Drawdown Indicators

	CEG	DIA	Difference
Max Drawdown Largest peak-to-trough decline	-50.70%	-51.87%	+1.17%
Max Drawdown (1Y) Largest decline over 1 year	-39.77%	-9.76%	-30.01%
Max Drawdown (3Y) Largest decline over 3 years	-50.70%	-15.95%	-34.75%
Max Drawdown (5Y) Largest decline over 5 years	—	-20.76%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.70%	—
Current Drawdown Current decline from peak	-36.93%	-0.70%	-36.23%
Average Drawdown Average peak-to-trough decline	-11.67%	-7.14%	-4.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.38%	2.53%	+16.85%

Volatility

CEG vs. DIA - Volatility Comparison

Constellation Energy Corp (CEG) has a higher volatility of 15.26% compared to State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) at 4.32%. This indicates that CEG's price experiences larger fluctuations and is considered to be riskier than DIA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CEG	DIA	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.26%	4.32%	+10.94%
Volatility (6M) Calculated over the trailing 6-month period	37.72%	9.78%	+27.94%
Volatility (1Y) Calculated over the trailing 1-year period	46.66%	12.52%	+34.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.38%	14.85%	+34.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.38%	17.56%	+31.82%

Dividends

CEG vs. DIA - Dividend Comparison

CEG's dividend yield for the trailing twelve months is around 0.64%, less than DIA's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CEG Constellation Energy Corp	0.64%	0.44%	0.63%	0.97%	0.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIA State Street SPDR Dow Jones Industrial Average ETF Trust	1.37%	1.43%	1.61%	1.81%	1.91%	1.58%	1.87%	1.85%	2.24%	1.97%	2.26%	2.33%

Frequently Asked Questions

Can I hold both CEG and DIA in my portfolio?

CEG and DIA have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CEG or DIA?

CEG has higher volatility (15.26%) compared to DIA (4.32%). In terms of maximum drawdown, CEG dropped -50.70% vs DIA's -51.87%.

Which has better risk-adjusted returns?

DIA currently has the higher Sharpe Ratio (1.69 vs -0.32), 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.