SLV vs. CEG
SLV (iShares Silver Trust) is Silver fund tracking the LBMA Silver Price, while CEG (Constellation Energy Corp) is a stock. Over the past 3 years, SLV returned 41.27%/yr vs 40.06%/yr for CEG. At a 0.21 correlation, their price movements are largely independent.
Performance
SLV vs. CEG - Performance Comparison
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Returns By Period
In the year-to-date period, SLV achieves a -4.86% return, which is significantly higher than CEG's -27.96% return.
SLV
- 1D
- 0.77%
- 1M
- -22.76%
- YTD
- -4.86%
- 6M
- 9.25%
- 1Y
- 85.39%
- 3Y*
- 41.27%
- 5Y*
- 18.83%
- 10Y*
- 13.99%
CEG
- 1D
- 2.86%
- 1M
- -7.54%
- YTD
- -27.96%
- 6M
- -27.70%
- 1Y
- -15.08%
- 3Y*
- 40.06%
- 5Y*
- —
- 10Y*
- —
SLV vs. CEG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SLV iShares Silver Trust | -4.86% | 144.66% | 20.89% | -1.09% | 5.16% |
CEG Constellation Energy Corp | -27.96% | 58.80% | 92.71% | 37.24% | 73.87% |
Correlation
The correlation between SLV and CEG is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2022 | 0.21 |
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Return for Risk
SLV vs. CEG — Risk / Return Rank
SLV
CEG
SLV vs. CEG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) and Constellation Energy Corp (CEG). 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.
| SLV | CEG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.92 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.98 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | -0.38 | +2.27 |
| Martin ratioReturn relative to average drawdown | 4.10 | -0.78 | +4.88 |
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Drawdowns
SLV vs. CEG - Drawdown Comparison
The maximum SLV drawdown since its inception was -76.28%, which is greater than CEG's maximum drawdown of -50.70%. Use the drawdown chart below to compare losses from any high point for SLV and CEG.
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Drawdown Indicators
| SLV | CEG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.28% | -50.70% | -25.58% |
Max Drawdown (1Y)Largest decline over 1 year | -45.40% | -39.77% | -5.63% |
Max Drawdown (3Y)Largest decline over 3 years | -45.40% | -50.70% | +5.30% |
Max Drawdown (5Y)Largest decline over 5 years | -45.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.40% | — | — |
Current DrawdownCurrent decline from peak | -41.96% | -36.93% | -5.03% |
Average DrawdownAverage peak-to-trough decline | -44.66% | -11.67% | -32.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.88% | 19.38% | +1.50% |
Volatility
SLV vs. CEG - Volatility Comparison
iShares Silver Trust (SLV) has a higher volatility of 16.34% compared to Constellation Energy Corp (CEG) at 15.26%. This indicates that SLV's price experiences larger fluctuations and is considered to be riskier than CEG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLV | CEG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.34% | 15.26% | +1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 59.10% | 37.72% | +21.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.82% | 46.66% | +13.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.46% | 49.38% | -12.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.00% | 49.38% | -17.38% |
Dividends
SLV vs. CEG - Dividend Comparison
SLV has not paid dividends to shareholders, while CEG's dividend yield for the trailing twelve months is around 0.64%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CEG Constellation Energy Corp | 0.64% | 0.44% | 0.63% | 0.97% | 0.65% |
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SLV and CEG have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (16.34%) compared to CEG (15.26%). In terms of maximum drawdown, SLV dropped -76.28% vs CEG's -50.70%.
SLV currently has the higher Sharpe Ratio (1.44 vs -0.32), 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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