CDNS vs. TD.TO
CDNS (Cadence Design Systems, Inc.) and TD.TO (The Toronto-Dominion Bank) are both stocks. CDNS operates in Software - Application (Technology), while TD.TO operates in Banks - Diversified (Financial Services). Over the past 10 years, CDNS returned 31.77%/yr vs 15.09%/yr for TD.TO. At a 0.29 correlation, their price movements are largely independent.
Performance
CDNS vs. TD.TO - Performance Comparison
Loading charts...
Different Trading Currencies
CDNS is traded in USD, while TD.TO is traded in CAD. To make them comparable, the TD.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 lower than TD.TO's 26.16% return. Over the past 10 years, CDNS has outperformed TD.TO with an annualized return of 31.77%, while TD.TO has yielded a comparatively lower 15.09% 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%
TD.TO
- 1D
- 0.81%
- 1M
- 9.89%
- YTD
- 26.16%
- 6M
- 30.50%
- 1Y
- 72.48%
- 3Y*
- 31.02%
- 5Y*
- 15.07%
- 10Y*
- 15.09%
CDNS vs. TD.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% |
TD.TO The Toronto-Dominion Bank | 26.16% | 85.53% | -13.39% | 4.83% | -11.62% | 40.22% | 6.24% | 16.46% | -11.97% | 23.52% |
Correlation
The correlation between CDNS and TD.TO 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 | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2006 | 0.29 |
The correlation between CDNS and TD.TO shifts across timeframes, from 0.17 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
Fundamentals
CDNS:
$105.37B
TD.TO:
CA$273.16B
CDNS:
$4.28
TD.TO:
CA$8.81
CDNS:
89.86
TD.TO:
18.62
CDNS:
6.85
TD.TO:
0.67
CDNS:
19.03
TD.TO:
2.47
CDNS:
12.08
TD.TO:
2.42
CDNS:
$5.53B
TD.TO:
CA$112.59B
CDNS:
$4.91B
TD.TO:
CA$59.48B
CDNS:
$1.87B
TD.TO:
CA$19.98B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CDNS vs. TD.TO — Risk / Return Rank
CDNS
TD.TO
CDNS vs. TD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cadence Design Systems, Inc. (CDNS) and The Toronto-Dominion Bank (TD.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 | TD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.04 | ||
| Sortino ratioReturn per unit of downside risk | -4.50 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.79 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 9.96 | -9.09 |
| Martin ratioReturn relative to average drawdown | 1.84 | 39.77 | -37.93 |
Loading charts...
Drawdowns
CDNS vs. TD.TO - Drawdown Comparison
The maximum CDNS drawdown since its inception was -93.13%, which is greater than TD.TO's maximum drawdown of -62.28%. Use the drawdown chart below to compare losses from any high point for CDNS and TD.TO.
Loading charts...
Drawdown Indicators
| CDNS | TD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.13% | -62.28% | -30.85% |
Max Drawdown (1Y)Largest decline over 1 year | -28.85% | -7.31% | -21.54% |
Max Drawdown (3Y)Largest decline over 3 years | -29.05% | -19.57% | -9.48% |
Max Drawdown (5Y)Largest decline over 5 years | -29.59% | -31.55% | +1.96% |
Max Drawdown (10Y)Largest decline over 10 years | -32.12% | -41.46% | +9.34% |
Current DrawdownCurrent decline from peak | -7.55% | 0.00% | -7.55% |
Average DrawdownAverage peak-to-trough decline | -39.62% | -10.66% | -28.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.63% | 1.83% | +11.80% |
Volatility
CDNS vs. TD.TO - Volatility Comparison
Cadence Design Systems, Inc. (CDNS) has a higher volatility of 16.52% compared to The Toronto-Dominion Bank (TD.TO) at 5.09%. This indicates that CDNS's price experiences larger fluctuations and is considered to be riskier than TD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CDNS | TD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.52% | 5.09% | +11.43% |
Volatility (6M)Calculated over the trailing 6-month period | 31.73% | 11.97% | +19.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.94% | 15.54% | +23.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.17% | 18.38% | +17.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.12% | 20.44% | +13.68% |
Dividends
CDNS vs. TD.TO - Dividend Comparison
CDNS has not paid dividends to shareholders, while TD.TO's dividend yield for the trailing twelve months is around 2.60%.
| 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% |
TD.TO The Toronto-Dominion Bank | 2.60% | 3.25% | 5.33% | 4.48% | 4.06% | 3.26% | 4.32% | 3.97% | 3.85% | 3.19% | 3.26% | 3.69% |
Financials
CDNS vs. TD.TO - Financials Comparison
This section allows you to compare key financial metrics between Cadence Design Systems, Inc. and The Toronto-Dominion Bank. 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. TD.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%.
TD.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Toronto-Dominion Bank reported a gross profit of 14.91B and revenue of 27.03B. Therefore, the gross margin over that period was 55.2%.
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%.
TD.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Toronto-Dominion Bank reported an operating income of 5.03B and revenue of 27.03B, resulting in an operating margin of 18.6%.
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%.
TD.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Toronto-Dominion Bank reported a net income of 4.25B and revenue of 27.03B, resulting in a net margin of 15.7%.
Frequently Asked Questions
CDNS and TD.TO 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.
Find the right allocation for CDNS and TD.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer