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 40.69%/yr vs 19.32%/yr for SPY. Their 0.46 correlation means their historical movements had little consistent relationship.
Performance
CEG vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, CEG achieves a -25.41% return, which is significantly lower than SPY's 10.13% return.
CEG
- 1D
- -0.31%
- 1M
- 9.82%
- 6M
- -6.12%
- YTD
- -25.41%
- 1Y
- -22.49%
- 3Y*
- 40.69%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 45.86%
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) |
|---|---|---|---|
| $725.89M | $725.77M | $982.35M | |
| $37.27B | $35.99B | $39.23B |
CEG vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CEG Constellation Energy Corp | -25.41% | 58.80% | 92.71% | 37.24% | 73.87% |
SPY State Street SPDR S&P 500 ETF | 10.13% | 17.72% | 24.89% | 26.18% | -14.20% |
Correlation
The correlation between CEG and SPY is 0.40, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.40 |
Correlation (3Y) Balances recent behavior with more history. | 0.45 |
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 | -2.04 | ||
| Sortino ratioReturn per unit of downside risk | -2.60 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.27 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | 2.20 | -2.79 |
| Martin ratioReturn relative to average drawdown | -1.04 | 9.40 | -10.44 |
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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 | -34.69% | -1.40% | -33.29% |
Average DrawdownAverage peak-to-trough decline | -12.37% | -9.01% | -3.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.25% | 2.08% | +21.17% |
Volatility
CEG vs. SPY - Volatility Comparison
Constellation Energy Corp (CEG) has a higher volatility of 9.71% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. 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 | 9.71% | 3.58% | +6.13% |
Volatility (6M)Calculated over the trailing 6-month period | 34.35% | 10.14% | +24.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.84% | 12.89% | +33.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.04% | 17.18% | +31.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.04% | 17.95% | +31.09% |
Dividends
CEG vs. SPY - Dividend Comparison
CEG's dividend yield for the trailing twelve months is around 0.62%, less than SPY's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEG Constellation Energy Corp | 0.62% | 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 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEG has higher volatility (9.71%) compared to SPY (3.58%). In terms of maximum drawdown, CEG dropped -50.70% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.52 vs -0.52), 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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