CDNS vs. FRHC
CDNS (Cadence Design Systems, Inc.) and FRHC (Freedom Holding Corp.) are both stocks. CDNS operates in Software - Application (Technology), while FRHC operates in Capital Markets (Financial Services). Over the past 5 years, CDNS returned 25.79%/yr vs 20.31%/yr for FRHC. At a 0.35 correlation, their price movements are largely independent.
Performance
CDNS vs. FRHC - Performance Comparison
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Returns By Period
In the year-to-date period, CDNS achieves a 26.12% return, which is significantly higher than FRHC's 16.71% 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%
FRHC
- 1D
- -4.38%
- 1M
- 1.57%
- YTD
- 16.71%
- 6M
- 7.60%
- 1Y
- -8.93%
- 3Y*
- 20.31%
- 5Y*
- 20.31%
- 10Y*
- —
CDNS vs. FRHC - 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% | 5.34% |
FRHC Freedom Holding Corp. | 16.71% | -6.89% | 62.15% | 38.44% | -16.02% | 35.12% | 252.89% | 76.03% | 29.87% | 236.51% |
Correlation
The correlation between CDNS and FRHC is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2017 | 0.35 |
The correlation between CDNS and FRHC shifts across timeframes, from 0.19 (1 year) to 0.38 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
CDNS:
$4.28
FRHC:
$0.04
CDNS:
92.03
FRHC:
3.26K
CDNS:
7.02
FRHC:
285.83
CDNS:
19.49
FRHC:
4.10
CDNS:
$5.53B
FRHC:
$2.12B
CDNS:
$4.91B
FRHC:
$1.05B
CDNS:
$1.87B
FRHC:
$542.59M
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Return for Risk
CDNS vs. FRHC — Risk / Return Rank
CDNS
FRHC
CDNS vs. FRHC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cadence Design Systems, Inc. (CDNS) and Freedom Holding Corp. (FRHC). 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 | FRHC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.99 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | -0.22 | +1.36 |
| Martin ratioReturn relative to average drawdown | 2.42 | -0.39 | +2.80 |
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 | FRHC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.85 | -0.23 | +1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | 0.54 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.94 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 1.35 | -1.11 |
Drawdowns
CDNS vs. FRHC - Drawdown Comparison
The maximum CDNS drawdown since its inception was -93.13%, which is greater than FRHC's maximum drawdown of -45.93%. Use the drawdown chart below to compare losses from any high point for CDNS and FRHC.
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Drawdown Indicators
| CDNS | FRHC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.13% | -45.93% | -47.20% |
Max Drawdown (1Y)Largest decline over 1 year | -28.85% | -41.08% | +12.23% |
Max Drawdown (3Y)Largest decline over 3 years | -29.05% | -41.08% | +12.03% |
Max Drawdown (5Y)Largest decline over 5 years | -29.59% | -45.93% | +16.34% |
Max Drawdown (10Y)Largest decline over 10 years | -32.12% | — | — |
Current DrawdownCurrent decline from peak | -5.32% | -25.31% | +19.99% |
Average DrawdownAverage peak-to-trough decline | -39.64% | -11.68% | -27.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.60% | 23.11% | -9.51% |
Volatility
CDNS vs. FRHC - Volatility Comparison
Cadence Design Systems, Inc. (CDNS) has a higher volatility of 16.58% compared to Freedom Holding Corp. (FRHC) at 12.91%. This indicates that CDNS's price experiences larger fluctuations and is considered to be riskier than FRHC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CDNS | FRHC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.58% | 12.91% | +3.67% |
Volatility (6M)Calculated over the trailing 6-month period | 31.69% | 28.22% | +3.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.02% | 39.37% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.20% | 38.00% | -1.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.13% | 47.75% | -13.62% |
Dividends
CDNS vs. FRHC - Dividend Comparison
Neither CDNS nor FRHC has paid dividends to shareholders.
Financials
CDNS vs. FRHC - Financials Comparison
This section allows you to compare key financial metrics between Cadence Design Systems, Inc. and Freedom Holding Corp.. 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
CDNS vs. FRHC - Profitability Comparison
CDNS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cadence Design Systems, Inc. reported a gross profit of 1.41B and revenue of 1.47B. Therefore, the gross margin over that period was 95.9%.
FRHC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Freedom Holding Corp. reported a gross profit of 354.51M and revenue of 615.57M. Therefore, the gross margin over that period was 57.6%.
CDNS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cadence Design Systems, Inc. reported an operating income of 431.33M and revenue of 1.47B, resulting in an operating margin of 29.3%.
FRHC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Freedom Holding Corp. reported an operating income of 199.99M and revenue of 615.57M, resulting in an operating margin of 32.5%.
CDNS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cadence Design Systems, Inc. reported a net income of 335.66M and revenue of 1.47B, resulting in a net margin of 22.8%.
FRHC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Freedom Holding Corp. reported a net income of 76.24M and revenue of 615.57M, resulting in a net margin of 12.4%.
Frequently Asked Questions
CDNS and FRHC have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CDNS has higher volatility (16.58%) compared to FRHC (12.91%). In terms of maximum drawdown, CDNS dropped -93.13% vs FRHC's -45.93%.
CDNS currently has the higher Sharpe Ratio (0.85 vs -0.23), 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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