CDNS vs. USD
CDNS (Cadence Design Systems, Inc.) is a stock, while USD (ProShares Ultra Semiconductors) is Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Over the past 10 years, CDNS returned 31.77%/yr vs 60.21%/yr for USD. A 0.64 correlation means they provide meaningful diversification when combined.
Performance
CDNS vs. USD - Performance Comparison
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Returns By Period
In the year-to-date period, CDNS achieves a 23.16% return, which is significantly lower than USD's 86.87% return. Over the past 10 years, CDNS has underperformed USD with an annualized return of 31.77%, while USD has yielded a comparatively higher 60.21% annualized return.
CDNS
- 1D
- 0.32%
- 1M
- 9.10%
- YTD
- 23.16%
- 6M
- 19.10%
- 1Y
- 28.32%
- 3Y*
- 17.22%
- 5Y*
- 24.39%
- 10Y*
- 31.77%
USD
- 1D
- 2.08%
- 1M
- -6.17%
- YTD
- 86.87%
- 6M
- 97.77%
- 1Y
- 222.89%
- 3Y*
- 111.11%
- 5Y*
- 65.02%
- 10Y*
- 60.21%
CDNS vs. USD - 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% |
USD ProShares Ultra Semiconductors | 86.87% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
Correlation
The correlation between CDNS and USD is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | 0.64 |
The correlation between CDNS and USD shifts across timeframes, from 0.48 (1 year) to 0.67 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
CDNS vs. USD — Risk / Return Rank
CDNS
USD
CDNS vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cadence Design Systems, Inc. (CDNS) and ProShares Ultra Semiconductors (USD). 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 | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.56 | ||
| Sortino ratioReturn per unit of downside risk | -1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.41 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 6.58 | -5.71 |
| Martin ratioReturn relative to average drawdown | 1.84 | 18.43 | -16.58 |
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Drawdowns
CDNS vs. USD - Drawdown Comparison
The maximum CDNS drawdown since its inception was -93.13%, which is greater than USD's maximum drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for CDNS and USD.
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Drawdown Indicators
| CDNS | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.13% | -88.63% | -4.50% |
Max Drawdown (1Y)Largest decline over 1 year | -28.85% | -31.80% | +2.95% |
Max Drawdown (3Y)Largest decline over 3 years | -29.05% | -64.46% | +35.41% |
Max Drawdown (5Y)Largest decline over 5 years | -29.59% | -77.85% | +48.26% |
Max Drawdown (10Y)Largest decline over 10 years | -32.12% | -77.85% | +45.73% |
Current DrawdownCurrent decline from peak | -7.55% | -13.67% | +6.12% |
Average DrawdownAverage peak-to-trough decline | -39.62% | -32.32% | -7.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.63% | 11.34% | +2.29% |
Volatility
CDNS vs. USD - Volatility Comparison
The current volatility for Cadence Design Systems, Inc. (CDNS) is 16.52%, while ProShares Ultra Semiconductors (USD) has a volatility of 29.56%. This indicates that CDNS experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CDNS | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.52% | 29.56% | -13.04% |
Volatility (6M)Calculated over the trailing 6-month period | 31.73% | 52.44% | -20.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.94% | 65.34% | -26.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.17% | 77.19% | -41.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.12% | 69.61% | -35.49% |
Dividends
CDNS vs. USD - Dividend Comparison
CDNS has not paid dividends to shareholders, while USD's dividend yield for the trailing twelve months is around 0.25%.
| 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% |
USD ProShares Ultra Semiconductors | 0.25% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Frequently Asked Questions
CDNS and USD have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (29.56%) compared to CDNS (16.52%). In terms of maximum drawdown, CDNS dropped -93.13% vs USD's -88.63%.
USD currently has the higher Sharpe Ratio (3.20 vs 0.65), 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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