CENX vs. BWET
CENX (Century Aluminum Company) is a stock, while BWET (Breakwave Tanker Shipping ETF) is Commodities fund tracking the Breakwave Wet Freight Futures Index. Over the past 3 years, CENX returned 73.27%/yr vs 120.49%/yr for BWET. At a 0.04 correlation, their price movements are largely independent.
Performance
CENX vs. BWET - Performance Comparison
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Returns By Period
In the year-to-date period, CENX achieves a 15.90% return, which is significantly lower than BWET's 995.07% return.
CENX
- 1D
- 1.66%
- 1M
- -25.79%
- 6M
- -3.40%
- YTD
- 15.90%
- 1Y
- 119.27%
- 3Y*
- 73.27%
- 5Y*
- 30.96%
- 10Y*
- 18.51%
BWET
- 1D
- 3.74%
- 1M
- 5.53%
- 6M
- 731.53%
- YTD
- 995.07%
- 1Y
- 1,761.96%
- 3Y*
- 120.49%
- 5Y*
- —
- 10Y*
- —
CENX vs. BWET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CENX Century Aluminum Company | 15.90% | 115.04% | 50.08% | 46.62% |
BWET Breakwave Tanker Shipping ETF | 995.07% | 96.22% | -39.21% | 14.13% |
Correlation
The correlation between CENX and BWET is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since May 3, 2023 | 0.04 |
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Return for Risk
CENX vs. BWET — Risk / Return Rank
CENX
BWET
CENX vs. BWET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Century Aluminum Company (CENX) and Breakwave Tanker Shipping ETF (BWET). 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.
| CENX | BWET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -15.15 | ||
| Sortino ratioReturn per unit of downside risk | -3.69 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.89 | -0.59 |
| Calmar ratioReturn relative to maximum drawdown | 3.20 | 43.28 | -40.07 |
| Martin ratioReturn relative to average drawdown | 10.09 | 163.33 | -153.24 |
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Drawdowns
CENX vs. BWET - Drawdown Comparison
The maximum CENX drawdown since its inception was -98.67%, which is greater than BWET's maximum drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for CENX and BWET.
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Drawdown Indicators
| CENX | BWET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.67% | -56.90% | -41.77% |
Max Drawdown (1Y)Largest decline over 1 year | -37.43% | -41.22% | +3.79% |
Max Drawdown (3Y)Largest decline over 3 years | -42.77% | -56.81% | +14.04% |
Max Drawdown (5Y)Largest decline over 5 years | -82.10% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -87.51% | — | — |
Current DrawdownCurrent decline from peak | -43.23% | -3.12% | -40.11% |
Average DrawdownAverage peak-to-trough decline | -61.06% | -23.71% | -37.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.87% | 10.90% | +0.97% |
Volatility
CENX vs. BWET - Volatility Comparison
The current volatility for Century Aluminum Company (CENX) is 18.70%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 42.90%. This indicates that CENX experiences smaller price fluctuations and is considered to be less risky than BWET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CENX | BWET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.70% | 42.90% | -24.20% |
Volatility (6M)Calculated over the trailing 6-month period | 47.67% | 95.43% | -47.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.46% | 105.04% | -40.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.14% | 73.53% | -1.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.49% | 73.53% | -3.04% |
Dividends
CENX vs. BWET - Dividend Comparison
Neither CENX nor BWET has paid dividends to shareholders.
Frequently Asked Questions
CENX and BWET have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BWET has higher volatility (42.90%) compared to CENX (18.70%). In terms of maximum drawdown, CENX dropped -98.67% vs BWET's -56.90%.
BWET currently has the higher Sharpe Ratio (17.02 vs 1.86), 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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