CDNS vs. ENEL.MI
CDNS (Cadence Design Systems, Inc.) and ENEL.MI (Enel SpA) are both stocks. CDNS operates in Software - Application (Technology), while ENEL.MI operates in Utilities - Diversified (Utilities). Over the past 10 years, CDNS returned 31.92%/yr vs 14.70%/yr for ENEL.MI. At a 0.26 correlation, their price movements are largely independent.
Performance
CDNS vs. ENEL.MI - Performance Comparison
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Different Trading Currencies
CDNS is traded in USD, while ENEL.MI is traded in EUR. To make them comparable, the ENEL.MI values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CDNS achieves a 26.12% return, which is significantly higher than ENEL.MI's 9.19% return. Over the past 10 years, CDNS has outperformed ENEL.MI with an annualized return of 31.92%, while ENEL.MI has yielded a comparatively lower 14.70% annualized return.
CDNS
- 1D
- 4.80%
- 1M
- 8.70%
- YTD
- 26.12%
- 6M
- 16.88%
- 1Y
- 32.76%
- 3Y*
- 19.80%
- 5Y*
- 25.79%
- 10Y*
- 31.92%
ENEL.MI
- 1D
- 1.03%
- 1M
- -2.07%
- YTD
- 9.19%
- 6M
- 11.47%
- 1Y
- 28.61%
- 3Y*
- 27.67%
- 5Y*
- 9.46%
- 10Y*
- 14.70%
CDNS vs. ENEL.MI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CDNS Cadence Design Systems, Inc. | 26.12% | 4.03% | 10.31% | 69.55% | -13.80% | 36.59% | 96.70% | 59.52% | 3.97% | 65.82% |
ENEL.MI Enel SpA | 9.19% | 55.03% | 2.97% | 47.75% | -27.90% | -18.13% | 33.84% | 44.17% | -4.17% | 43.51% |
Correlation
The correlation between CDNS and ENEL.MI is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since May 29, 2007 | 0.26 |
Over the past year, the correlation between CDNS and ENEL.MI has dropped to 0.01 - well below their long-term average of 0.26, suggesting their price drivers have been diverging.
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Return for Risk
CDNS vs. ENEL.MI — Risk / Return Rank
CDNS
ENEL.MI
CDNS vs. ENEL.MI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cadence Design Systems, Inc. (CDNS) and Enel SpA (ENEL.MI). 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.
| CDNS | ENEL.MI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.25 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 2.19 | -1.05 |
| Martin ratioReturn relative to average drawdown | 2.42 | 6.32 | -3.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CDNS | ENEL.MI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.85 | 1.32 | -0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | 0.39 | +0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.94 | 0.59 | +0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.22 | +0.03 |
Drawdowns
CDNS vs. ENEL.MI - Drawdown Comparison
The maximum CDNS drawdown since its inception was -93.13%, which is greater than ENEL.MI's maximum drawdown of -66.08%. Use the drawdown chart below to compare losses from any high point for CDNS and ENEL.MI.
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Drawdown Indicators
| CDNS | ENEL.MI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.13% | -66.08% | -27.05% |
Max Drawdown (1Y)Largest decline over 1 year | -28.85% | -12.61% | -16.24% |
Max Drawdown (3Y)Largest decline over 3 years | -29.05% | -16.63% | -12.42% |
Max Drawdown (5Y)Largest decline over 5 years | -29.59% | -56.87% | +27.28% |
Max Drawdown (10Y)Largest decline over 10 years | -32.12% | -60.61% | +28.49% |
Current DrawdownCurrent decline from peak | -5.32% | -7.79% | +2.47% |
Average DrawdownAverage peak-to-trough decline | -39.64% | -25.04% | -14.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.60% | 4.37% | +9.23% |
Volatility
CDNS vs. ENEL.MI - Volatility Comparison
Cadence Design Systems, Inc. (CDNS) has a higher volatility of 16.58% compared to Enel SpA (ENEL.MI) at 6.65%. This indicates that CDNS's price experiences larger fluctuations and is considered to be riskier than ENEL.MI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CDNS | ENEL.MI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.58% | 6.65% | +9.93% |
Volatility (6M)Calculated over the trailing 6-month period | 31.69% | 18.54% | +13.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.02% | 20.91% | +18.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.20% | 23.87% | +12.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.13% | 24.72% | +9.41% |
Dividends
CDNS vs. ENEL.MI - Dividend Comparison
CDNS has not paid dividends to shareholders, while ENEL.MI's dividend yield for the trailing twelve months is around 5.07%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDNS Cadence Design Systems, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ENEL.MI Enel SpA | 5.07% | 5.29% | 6.24% | 5.94% | 7.55% | 5.08% | 3.96% | 3.96% | 2.36% | 2.14% | 1.91% | 2.31% |
Financials
CDNS vs. ENEL.MI - Financials Comparison
This section allows you to compare key financial metrics between Cadence Design Systems, Inc. and Enel SpA. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
CDNS and ENEL.MI have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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