CDNS vs. MSTR
CDNS (Cadence Design Systems, Inc.) and MSTR (Strategy Inc) are both stocks. Both operate in the Software - Application industry within the Technology sector. Over the past 10 years, CDNS returned 31.77%/yr vs 20.92%/yr for MSTR. At a 0.34 correlation, their price movements are largely independent.
Performance
CDNS vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, CDNS achieves a 23.16% return, which is significantly higher than MSTR's -18.41% return. Over the past 10 years, CDNS has outperformed MSTR with an annualized return of 31.77%, while MSTR has yielded a comparatively lower 20.92% annualized return.
CDNS
- 1D
- 0.32%
- 1M
- 10.86%
- YTD
- 23.16%
- 6M
- 19.10%
- 1Y
- 28.32%
- 3Y*
- 17.22%
- 5Y*
- 24.39%
- 10Y*
- 31.77%
MSTR
- 1D
- 3.18%
- 1M
- -30.13%
- YTD
- -18.41%
- 6M
- -29.74%
- 1Y
- -67.62%
- 3Y*
- 63.46%
- 5Y*
- 19.14%
- 10Y*
- 20.92%
CDNS vs. MSTR - 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% |
MSTR Strategy Inc | -18.41% | -47.53% | 358.54% | 346.15% | -74.00% | 40.13% | 172.42% | 11.65% | -2.70% | -33.49% |
Correlation
The correlation between CDNS and MSTR is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 1998 | 0.34 |
Fundamentals
CDNS:
$105.37B
MSTR:
$41.40B
CDNS:
$4.28
MSTR:
-$40.19
CDNS:
19.03
MSTR:
77.72
CDNS:
12.08
MSTR:
1.13
CDNS:
$5.53B
MSTR:
$490.47M
CDNS:
$4.91B
MSTR:
$334.08M
CDNS:
$1.87B
MSTR:
$466.93M
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Return for Risk
CDNS vs. MSTR — Risk / Return Rank
CDNS
MSTR
CDNS vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cadence Design Systems, Inc. (CDNS) and Strategy Inc (MSTR). 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 | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.60 | ||
| Sortino ratioReturn per unit of downside risk | +2.89 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.82 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | -0.88 | +1.75 |
| Martin ratioReturn relative to average drawdown | 1.84 | -1.27 | +3.11 |
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Drawdowns
CDNS vs. MSTR - Drawdown Comparison
The maximum CDNS drawdown since its inception was -93.13%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for CDNS and MSTR.
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Drawdown Indicators
| CDNS | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.13% | -99.86% | +6.73% |
Max Drawdown (1Y)Largest decline over 1 year | -28.85% | -76.53% | +47.68% |
Max Drawdown (3Y)Largest decline over 3 years | -29.05% | -77.42% | +48.37% |
Max Drawdown (5Y)Largest decline over 5 years | -29.59% | -84.11% | +54.52% |
Max Drawdown (10Y)Largest decline over 10 years | -32.12% | -89.27% | +57.15% |
Current DrawdownCurrent decline from peak | -7.55% | -73.84% | +66.29% |
Average DrawdownAverage peak-to-trough decline | -39.62% | -86.45% | +46.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.63% | 53.01% | -39.38% |
Volatility
CDNS vs. MSTR - Volatility Comparison
The current volatility for Cadence Design Systems, Inc. (CDNS) is 16.52%, while Strategy Inc (MSTR) has a volatility of 21.60%. This indicates that CDNS experiences smaller price fluctuations and is considered to be less risky than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CDNS | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.52% | 21.60% | -5.08% |
Volatility (6M)Calculated over the trailing 6-month period | 31.73% | 57.34% | -25.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.94% | 71.15% | -32.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.17% | 90.79% | -54.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.12% | 73.80% | -39.68% |
Dividends
CDNS vs. MSTR - Dividend Comparison
Neither CDNS nor MSTR has paid dividends to shareholders.
Financials
CDNS vs. MSTR - Financials Comparison
This section allows you to compare key financial metrics between Cadence Design Systems, Inc. and Strategy Inc. 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 MSTR have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (21.60%) compared to CDNS (16.52%). In terms of maximum drawdown, CDNS dropped -93.13% vs MSTR's -99.86%.
CDNS currently has the higher Sharpe Ratio (0.65 vs -0.95), 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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