CEG vs. GLD
CEG (Constellation Energy Corp) is a stock, while GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM. Over the past 3 years, CEG returned 40.06%/yr vs 28.89%/yr for GLD. At a 0.13 correlation, their price movements are largely independent.
Performance
CEG vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, CEG achieves a -27.96% return, which is significantly lower than GLD's -2.47% return.
CEG
- 1D
- 2.86%
- 1M
- -5.03%
- YTD
- -27.96%
- 6M
- -27.70%
- 1Y
- -14.08%
- 3Y*
- 40.06%
- 5Y*
- —
- 10Y*
- —
GLD
- 1D
- 0.06%
- 1M
- -7.37%
- YTD
- -2.47%
- 6M
- -2.25%
- 1Y
- 22.21%
- 3Y*
- 28.89%
- 5Y*
- 17.08%
- 10Y*
- 12.15%
CEG vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CEG Constellation Energy Corp | -27.96% | 58.80% | 92.71% | 37.24% | 73.87% |
GLD SPDR Gold Shares | -2.47% | 63.68% | 26.66% | 12.69% | 0.84% |
Correlation
The correlation between CEG and GLD is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2022 | 0.13 |
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Return for Risk
CEG vs. GLD — Risk / Return Rank
CEG
GLD
CEG vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Constellation Energy Corp (CEG) and SPDR Gold Shares (GLD). 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 | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.40 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.18 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.38 | 0.98 | -1.36 |
| Martin ratioReturn relative to average drawdown | -0.78 | 2.81 | -3.59 |
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Drawdowns
CEG vs. GLD - Drawdown Comparison
The maximum CEG drawdown since its inception was -50.70%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for CEG and GLD.
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Drawdown Indicators
| CEG | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.70% | -45.56% | -5.14% |
Max Drawdown (1Y)Largest decline over 1 year | -39.77% | -24.46% | -15.31% |
Max Drawdown (3Y)Largest decline over 3 years | -50.70% | -24.46% | -26.24% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.46% | — |
Current DrawdownCurrent decline from peak | -36.93% | -22.05% | -14.88% |
Average DrawdownAverage peak-to-trough decline | -11.67% | -16.16% | +4.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.38% | 8.49% | +10.89% |
Volatility
CEG vs. GLD - Volatility Comparison
Constellation Energy Corp (CEG) has a higher volatility of 15.26% compared to SPDR Gold Shares (GLD) at 7.79%. This indicates that CEG's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEG | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.26% | 7.79% | +7.47% |
Volatility (6M)Calculated over the trailing 6-month period | 37.72% | 24.10% | +13.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.66% | 27.37% | +19.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.38% | 18.22% | +31.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.38% | 16.08% | +33.30% |
Dividends
CEG vs. GLD - Dividend Comparison
CEG's dividend yield for the trailing twelve months is around 0.64%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CEG Constellation Energy Corp | 0.64% | 0.44% | 0.63% | 0.97% | 0.65% |
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CEG and GLD have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEG has higher volatility (15.26%) compared to GLD (7.79%). In terms of maximum drawdown, CEG dropped -50.70% vs GLD's -45.56%.
GLD currently has the higher Sharpe Ratio (0.87 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.
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