CDNS vs. GRT-UN.TO
CDNS (Cadence Design Systems, Inc.) and GRT-UN.TO (Granite Real Estate Investment Trust) are both stocks. CDNS operates in Software - Application (Technology), while GRT-UN.TO operates in REIT - Industrial (Real Estate). Over the past 10 years, CDNS returned 31.77%/yr vs 13.54%/yr for GRT-UN.TO. At a 0.21 correlation, their price movements are largely independent.
Performance
CDNS vs. GRT-UN.TO - Performance Comparison
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Different Trading Currencies
CDNS is traded in USD, while GRT-UN.TO is traded in CAD. To make them comparable, the GRT-UN.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CDNS achieves a 23.16% return, which is significantly higher than GRT-UN.TO's 15.06% return. Over the past 10 years, CDNS has outperformed GRT-UN.TO with an annualized return of 31.77%, while GRT-UN.TO has yielded a comparatively lower 13.54% annualized return.
CDNS
- 1D
- 0.32%
- 1M
- 8.58%
- YTD
- 23.16%
- 6M
- 19.10%
- 1Y
- 25.05%
- 3Y*
- 17.22%
- 5Y*
- 24.39%
- 10Y*
- 31.77%
GRT-UN.TO
- 1D
- -0.14%
- 1M
- 3.57%
- YTD
- 15.06%
- 6M
- 22.11%
- 1Y
- 34.57%
- 3Y*
- 8.16%
- 5Y*
- 4.09%
- 10Y*
- 13.54%
CDNS vs. GRT-UN.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CDNS Cadence Design Systems, Inc. | 23.16% | 4.03% | 10.31% | 69.55% | -13.80% | 36.59% | 96.70% | 59.52% | 3.97% | 65.82% |
GRT-UN.TO Granite Real Estate Investment Trust | 15.06% | 28.67% | -11.77% | 17.98% | -35.94% | 40.23% | 25.54% | 35.22% | 5.57% | 24.29% |
Correlation
The correlation between CDNS and GRT-UN.TO is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.21 |
The correlation between CDNS and GRT-UN.TO shifts across timeframes, from 0.07 (1 year) to 0.24 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
CDNS:
$105.37B
GRT-UN.TO:
CA$5.73B
CDNS:
$4.28
GRT-UN.TO:
CA$6.39
CDNS:
89.86
GRT-UN.TO:
14.79
CDNS:
6.85
GRT-UN.TO:
0.91
CDNS:
19.03
GRT-UN.TO:
9.15
CDNS:
12.08
GRT-UN.TO:
1.02
CDNS:
$5.53B
GRT-UN.TO:
CA$629.87M
CDNS:
$4.91B
GRT-UN.TO:
CA$517.51M
CDNS:
$1.87B
GRT-UN.TO:
CA$513.85M
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Return for Risk
CDNS vs. GRT-UN.TO — Risk / Return Rank
CDNS
GRT-UN.TO
CDNS vs. GRT-UN.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cadence Design Systems, Inc. (CDNS) and Granite Real Estate Investment Trust (GRT-UN.TO). 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.
| CDNS | GRT-UN.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.31 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 2.61 | -1.74 |
| Martin ratioReturn relative to average drawdown | 1.84 | 8.35 | -6.51 |
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Drawdowns
CDNS vs. GRT-UN.TO - Drawdown Comparison
The maximum CDNS drawdown since its inception was -93.13%, roughly equal to the maximum GRT-UN.TO drawdown of -89.30%. Use the drawdown chart below to compare losses from any high point for CDNS and GRT-UN.TO.
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Drawdown Indicators
| CDNS | GRT-UN.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.13% | -89.30% | -3.83% |
Max Drawdown (1Y)Largest decline over 1 year | -28.85% | -13.29% | -15.56% |
Max Drawdown (3Y)Largest decline over 3 years | -29.05% | -31.60% | +2.55% |
Max Drawdown (5Y)Largest decline over 5 years | -29.59% | -43.95% | +14.36% |
Max Drawdown (10Y)Largest decline over 10 years | -32.12% | -49.61% | +17.49% |
Current DrawdownCurrent decline from peak | -7.55% | -3.42% | -4.13% |
Average DrawdownAverage peak-to-trough decline | -39.62% | -18.51% | -21.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.63% | 4.19% | +9.44% |
Volatility
CDNS vs. GRT-UN.TO - Volatility Comparison
Cadence Design Systems, Inc. (CDNS) has a higher volatility of 16.52% compared to Granite Real Estate Investment Trust (GRT-UN.TO) at 5.65%. This indicates that CDNS's price experiences larger fluctuations and is considered to be riskier than GRT-UN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CDNS | GRT-UN.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.52% | 5.65% | +10.87% |
Volatility (6M)Calculated over the trailing 6-month period | 31.73% | 15.73% | +16.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.94% | 19.84% | +19.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.17% | 23.11% | +13.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.12% | 23.53% | +10.59% |
Dividends
CDNS vs. GRT-UN.TO - Dividend Comparison
CDNS has not paid dividends to shareholders, while GRT-UN.TO's dividend yield for the trailing twelve months is around 3.68%.
| 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% |
GRT-UN.TO Granite Real Estate Investment Trust | 3.68% | 4.18% | 4.74% | 4.21% | 4.50% | 2.86% | 3.43% | 4.25% | 5.69% | 5.31% | 5.42% | 1.62% |
Financials
CDNS vs. GRT-UN.TO - Financials Comparison
This section allows you to compare key financial metrics between Cadence Design Systems, Inc. and Granite Real Estate Investment Trust. 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. GRT-UN.TO - 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%.
GRT-UN.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Granite Real Estate Investment Trust reported a gross profit of 134.27M and revenue of 165.83M. Therefore, the gross margin over that period was 81.0%.
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%.
GRT-UN.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Granite Real Estate Investment Trust reported an operating income of 122.29M and revenue of 165.83M, resulting in an operating margin of 73.7%.
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%.
GRT-UN.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Granite Real Estate Investment Trust reported a net income of 91.25M and revenue of 165.83M, resulting in a net margin of 55.0%.
Frequently Asked Questions
CDNS and GRT-UN.TO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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