CEG vs. SPY
CEG (Constellation Energy Corp) 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 3 years, CEG returned 46.00%/yr vs 21.27%/yr for SPY. At a 0.47 correlation, their price movements are largely independent.
Performance
CEG vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, CEG achieves a -21.78% return, which is significantly lower than SPY's 9.74% return.
CEG
- 1D
- 0.54%
- 1M
- -6.30%
- YTD
- -21.78%
- 6M
- -22.77%
- 1Y
- -9.16%
- 3Y*
- 46.00%
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- -0.31%
- 1M
- 0.09%
- YTD
- 9.74%
- 6M
- 9.27%
- 1Y
- 26.65%
- 3Y*
- 21.27%
- 5Y*
- 13.51%
- 10Y*
- 15.70%
CEG vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CEG Constellation Energy Corp | -21.78% | 58.80% | 92.71% | 37.24% | 73.87% |
SPY State Street SPDR S&P 500 ETF | 9.74% | 17.72% | 24.89% | 26.18% | -14.20% |
Correlation
The correlation between CEG and SPY is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2022 | 0.47 |
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Return for Risk
CEG vs. SPY — Risk / Return Rank
CEG
SPY
CEG vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Constellation Energy Corp (CEG) 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.
| CEG | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.35 | ||
| Sortino ratioReturn per unit of downside risk | -2.87 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.39 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 3.01 | -3.24 |
| Martin ratioReturn relative to average drawdown | -0.46 | 13.54 | -14.00 |
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Drawdowns
CEG vs. SPY - Drawdown Comparison
The maximum CEG drawdown since its inception was -50.70%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CEG and SPY.
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Drawdown Indicators
| CEG | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.70% | -55.19% | +4.49% |
Max Drawdown (1Y)Largest decline over 1 year | -39.77% | -8.88% | -30.89% |
Max Drawdown (3Y)Largest decline over 3 years | -50.70% | -18.76% | -31.94% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -31.52% | -1.75% | -29.77% |
Average DrawdownAverage peak-to-trough decline | -11.77% | -9.04% | -2.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.93% | 1.97% | +17.96% |
Volatility
CEG vs. SPY - Volatility Comparison
Constellation Energy Corp (CEG) has a higher volatility of 13.64% compared to State Street SPDR S&P 500 ETF (SPY) at 4.64%. This indicates that CEG'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
| CEG | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.64% | 4.64% | +9.00% |
Volatility (6M)Calculated over the trailing 6-month period | 36.35% | 9.75% | +26.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.74% | 12.43% | +34.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.31% | 17.14% | +32.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.31% | 17.99% | +31.32% |
Dividends
CEG vs. SPY - Dividend Comparison
CEG's dividend yield for the trailing twelve months is around 0.59%, less than SPY's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEG Constellation Energy Corp | 0.59% | 0.44% | 0.63% | 0.97% | 0.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
CEG and SPY have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEG has higher volatility (13.64%) compared to SPY (4.64%). In terms of maximum drawdown, CEG dropped -50.70% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (2.16 vs -0.20), 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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