CGNX vs. TDY

Last updated Jun 3, 2026

CGNX (Cognex Corporation) and TDY (Teledyne Technologies Incorporated) are both stocks. Both operate in the Scientific & Technical Instruments industry within the Technology sector. Over the past 10 years, CGNX returned 12.44%/yr vs 20.17%/yr for TDY. At a 0.47 correlation, their price movements are largely independent.

Performance

CGNX vs. TDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cognex Corporation (CGNX) and Teledyne Technologies Incorporated (TDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CGNX achieves a 84.18% return, which is significantly higher than TDY's 21.16% return. Over the past 10 years, CGNX has underperformed TDY with an annualized return of 12.44%, while TDY has yielded a comparatively higher 20.17% annualized return.

CGNX

• 1D: 2.23%
• 1M: 18.29%
• YTD: 84.18%
• 6M: 73.52%
• 1Y: 124.18%
• 3Y*: 5.93%
• 5Y*: -2.62%
• 10Y*: 12.44%

TDY

• 1D: 1.53%
• 1M: -3.36%
• YTD: 21.16%
• 6M: 24.83%
• 1Y: 25.20%
• 3Y*: 15.91%
• 5Y*: 7.99%
• 10Y*: 20.17%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CGNX vs. TDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CGNX Cognex Corporation	84.18%	1.24%	-13.45%	-10.84%	-39.11%	-2.85%	47.69%	45.54%	-36.53%	92.91%
TDY Teledyne Technologies Incorporated	21.16%	10.04%	4.00%	11.60%	-8.46%	11.46%	13.11%	67.35%	14.31%	47.28%

Correlation

The correlation between CGNX and TDY is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since Nov 24, 1999	0.47

The correlation between CGNX and TDY has been stable across timeframes, ranging from 0.45 to 0.52 - a consistent structural relationship.

Fundamentals

EPS CGNX : $0.84 TDY : $18.89
PE Ratio CGNX : 78.25 TDY : 32.76
PS Ratio CGNX : 10.66 TDY : 4.79
Total Revenue (TTM) CGNX : $1.05B TDY : $6.12B
Gross Profit (TTM) CGNX : $712.01M TDY : $2.40B
EBITDA (TTM) CGNX : $224.08M TDY : $1.49B

Return for Risk

CGNX vs. TDY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CGNX

CGNX Risk / Return Rank: 89
CGNX Sharpe Ratio Rank: 89
CGNX Sortino Ratio Rank: 92
CGNX Omega Ratio Rank: 91
CGNX Calmar Ratio Rank: 89
CGNX Martin Ratio Rank: 87

TDY

TDY Risk / Return Rank: 67
TDY Sharpe Ratio Rank: 72
TDY Sortino Ratio Rank: 68
TDY Omega Ratio Rank: 65
TDY Calmar Ratio Rank: 66
TDY Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CGNX vs. TDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cognex Corporation (CGNX) and Teledyne Technologies Incorporated (TDY). 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.

	CGNX	TDY	Difference
Sharpe ratio Return per unit of total volatility	2.17	1.04	+1.13
Sortino ratio Return per unit of downside risk	3.49	1.67	+1.82
Omega ratio Gain probability vs. loss probability	1.47	1.20	+0.27
Calmar ratio Return relative to maximum drawdown	4.38	1.31	+3.07
Martin ratio Return relative to average drawdown	9.94	3.08	+6.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CGNX vs. TDY - Sharpe Ratio Comparison

The current CGNX Sharpe Ratio is 2.17, which is higher than the TDY Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of CGNX and TDY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CGNX	TDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	1.04	+1.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.06	0.33	-0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	0.73	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.45	-0.17

Drawdowns

CGNX vs. TDY - Drawdown Comparison

The maximum CGNX drawdown since its inception was -83.71%, which is greater than TDY's maximum drawdown of -66.17%. Use the drawdown chart below to compare losses from any high point for CGNX and TDY.

Drawdown Indicators

	CGNX	TDY	Difference
Max Drawdown Largest peak-to-trough decline	-83.71%	-66.17%	-17.54%
Max Drawdown (1Y) Largest decline over 1 year	-27.86%	-18.39%	-9.47%
Max Drawdown (3Y) Largest decline over 3 years	-59.98%	-18.77%	-41.21%
Max Drawdown (5Y) Largest decline over 5 years	-74.07%	-32.24%	-41.83%
Max Drawdown (10Y) Largest decline over 10 years	-74.63%	-48.95%	-25.68%
Current Drawdown Current decline from peak	-27.29%	-10.13%	-17.16%
Average Drawdown Average peak-to-trough decline	-37.52%	-17.45%	-20.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.27%	7.80%	+4.47%

Volatility

CGNX vs. TDY - Volatility Comparison

Cognex Corporation (CGNX) has a higher volatility of 14.08% compared to Teledyne Technologies Incorporated (TDY) at 8.43%. This indicates that CGNX's price experiences larger fluctuations and is considered to be riskier than TDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGNX	TDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.08%	8.43%	+5.65%
Volatility (6M) Calculated over the trailing 6-month period	41.55%	20.09%	+21.46%
Volatility (1Y) Calculated over the trailing 1-year period	57.58%	24.45%	+33.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.44%	24.27%	+19.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.80%	27.63%	+14.17%

Dividends

CGNX vs. TDY - Dividend Comparison

CGNX's dividend yield for the trailing twelve months is around 0.51%, while TDY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CGNX Cognex Corporation	0.51%	0.90%	0.85%	0.68%	0.56%	0.32%	2.77%	0.37%	0.48%	0.27%	0.46%	0.62%
TDY Teledyne Technologies Incorporated	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

CGNX vs. TDY - Profitability Comparison

The chart below illustrates the profitability comparison between Cognex Corporation and Teledyne Technologies Incorporated over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CGNX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cognex Corporation reported a gross profit of 190.94M and revenue of 268.44M. Therefore, the gross margin over that period was 71.1%.

TDY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Teledyne Technologies Incorporated reported a gross profit of 474.60M and revenue of 1.61B. Therefore, the gross margin over that period was 29.4%.

CGNX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cognex Corporation reported an operating income of 59.87M and revenue of 268.44M, resulting in an operating margin of 22.3%.

TDY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Teledyne Technologies Incorporated reported an operating income of 329.50M and revenue of 1.61B, resulting in an operating margin of 20.4%.

CGNX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cognex Corporation reported a net income of 51.70M and revenue of 268.44M, resulting in a net margin of 19.3%.

TDY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Teledyne Technologies Incorporated reported a net income of 275.60M and revenue of 1.61B, resulting in a net margin of 17.1%.

Frequently Asked Questions

Can I hold both CGNX and TDY in my portfolio?

CGNX and TDY have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGNX or TDY?

CGNX has higher volatility (14.08%) compared to TDY (8.43%). In terms of maximum drawdown, CGNX dropped -83.71% vs TDY's -66.17%.

Which has better risk-adjusted returns?

CGNX currently has the higher Sharpe Ratio (2.17 vs 1.04), 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.