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 39.57%/yr vs 20.99%/yr for SPY. At a 0.46 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 -28.64% return, which is significantly lower than SPY's 11.30% return.
CEG
- 1D
- 0.26%
- 1M
- -0.94%
- 6M
- -26.40%
- YTD
- -28.64%
- 1Y
- -21.41%
- 3Y*
- 39.57%
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- 0.43%
- 1M
- 2.04%
- 6M
- 9.35%
- YTD
- 11.30%
- 1Y
- 22.40%
- 3Y*
- 20.99%
- 5Y*
- 13.15%
- 10Y*
- 15.22%
CEG vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CEG Constellation Energy Corp | -28.64% | 58.80% | 92.71% | 37.24% | 73.87% |
SPY State Street SPDR S&P 500 ETF | 11.30% | 17.72% | 24.89% | 26.18% | -14.20% |
Correlation
The correlation between CEG and SPY is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
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 | 0.46 |
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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 | -2.17 | ||
| Sortino ratioReturn per unit of downside risk | -2.74 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.32 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | 2.48 | -2.96 |
| Martin ratioReturn relative to average drawdown | -0.90 | 10.83 | -11.73 |
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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 | -41.22% | -8.88% | -32.34% |
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 | -37.52% | -0.35% | -37.17% |
Average DrawdownAverage peak-to-trough decline | -12.06% | -9.03% | -3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.65% | 2.03% | +19.62% |
Volatility
CEG vs. SPY - Volatility Comparison
Constellation Energy Corp (CEG) has a higher volatility of 11.55% compared to State Street SPDR S&P 500 ETF (SPY) at 4.52%. 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 | 11.55% | 4.52% | +7.03% |
Volatility (6M)Calculated over the trailing 6-month period | 36.24% | 9.98% | +26.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.86% | 12.55% | +34.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.21% | 17.16% | +32.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.21% | 17.92% | +31.29% |
Dividends
CEG vs. SPY - Dividend Comparison
CEG's dividend yield for the trailing twelve months is around 0.65%, less than SPY's 1.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEG Constellation Energy Corp | 0.65% | 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 | 1.00% | 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 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEG has higher volatility (11.55%) compared to SPY (4.52%). In terms of maximum drawdown, CEG dropped -50.70% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.76 vs -0.42), 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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