NCEGX vs. ^GSPC
NCEGX (The North Country Large Cap Equity Fund) is Large Cap Growth Equities fund managed by North Country Funds, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, NCEGX returned 14.99%/yr vs 13.53%/yr for ^GSPC. With a 0.98 correlation, they move nearly in lockstep.
Performance
NCEGX vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, NCEGX achieves a 3.46% return, which is significantly lower than ^GSPC's 9.32% return. Over the past 10 years, NCEGX has outperformed ^GSPC with an annualized return of 14.99%, while ^GSPC has yielded a comparatively lower 13.53% annualized return.
NCEGX
- 1D
- 0.46%
- 1M
- -1.92%
- 6M
- 3.46%
- YTD
- 3.46%
- 1Y
- 12.59%
- 3Y*
- 17.37%
- 5Y*
- 9.76%
- 10Y*
- 14.99%
^GSPC
- 1D
- 0.00%
- 1M
- -1.66%
- 6M
- 9.32%
- YTD
- 9.32%
- 1Y
- 20.17%
- 3Y*
- 18.87%
- 5Y*
- 11.45%
- 10Y*
- 13.53%
NCEGX vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCEGX The North Country Large Cap Equity Fund | 3.46% | 13.28% | 27.49% | 24.09% | -20.58% | 23.09% | 24.54% | 39.61% | -3.52% | 23.81% |
^GSPC S&P 500 Index | 9.32% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between NCEGX and ^GSPC is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2001 | 0.98 |
The correlation between NCEGX and ^GSPC has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
NCEGX vs. ^GSPC — Risk / Return Rank
NCEGX
^GSPC
NCEGX vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The North Country Large Cap Equity Fund (NCEGX) and S&P 500 Index (^GSPC). 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.
| NCEGX | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.29 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.12 | 2.23 | -1.11 |
| Martin ratioReturn relative to average drawdown | 4.36 | 9.69 | -5.33 |
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Drawdowns
NCEGX vs. ^GSPC - Drawdown Comparison
The maximum NCEGX drawdown since its inception was -52.03%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for NCEGX and ^GSPC.
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Drawdown Indicators
| NCEGX | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.03% | -56.78% | +4.75% |
Max Drawdown (1Y)Largest decline over 1 year | -11.84% | -9.10% | -2.74% |
Max Drawdown (3Y)Largest decline over 3 years | -27.93% | -18.90% | -9.03% |
Max Drawdown (5Y)Largest decline over 5 years | -27.93% | -25.43% | -2.50% |
Max Drawdown (10Y)Largest decline over 10 years | -29.26% | -33.92% | +4.66% |
Current DrawdownCurrent decline from peak | -2.24% | -1.66% | -0.58% |
Average DrawdownAverage peak-to-trough decline | -9.83% | -10.71% | +0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.04% | 2.09% | +0.95% |
Volatility
NCEGX vs. ^GSPC - Volatility Comparison
The North Country Large Cap Equity Fund (NCEGX) and S&P 500 Index (^GSPC) have volatilities of 5.04% and 5.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCEGX | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 5.00% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 10.80% | 9.95% | +0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.29% | 12.54% | +0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.02% | 17.01% | +1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.62% | 18.05% | +0.57% |
Frequently Asked Questions
With a correlation of 0.95, NCEGX and ^GSPC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
NCEGX has higher volatility (5.04%) compared to ^GSPC (5.00%). In terms of maximum drawdown, NCEGX dropped -52.03% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.62 vs 1.00), 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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