CRDO vs. TSM

Last updated Jun 27, 2026

CRDO (Credo Technology Group Holding Ltd) and TSM (Taiwan Semiconductor Manufacturing Company Limited) are both stocks. Both operate in the Semiconductors industry within the Technology sector. Over the past 3 years, CRDO returned 137.08%/yr vs 64.09%/yr for TSM. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

CRDO vs. TSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Credo Technology Group Holding Ltd (CRDO) and Taiwan Semiconductor Manufacturing Company Limited (TSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRDO achieves a 65.40% return, which is significantly higher than TSM's 43.01% return.

CRDO

• 1D: -11.20%
• 1M: 0.83%
• YTD: 65.40%
• 6M: 64.33%
• 1Y: 154.57%
• 3Y*: 137.08%
• 5Y*: —
• 10Y*: —

TSM

• 1D: -0.61%
• 1M: 3.56%
• YTD: 43.01%
• 6M: 43.50%
• 1Y: 91.22%
• 3Y*: 64.09%
• 5Y*: 32.11%
• 10Y*: 35.83%

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

CRDO vs. TSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CRDO Credo Technology Group Holding Ltd	65.40%	114.09%	245.20%	46.28%	10.00%
TSM Taiwan Semiconductor Manufacturing Company Limited	43.01%	55.91%	92.58%	42.33%	-38.17%

Correlation

The correlation between CRDO and TSM is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jan 27, 2022	0.51

The correlation between CRDO and TSM has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.

Fundamentals

Market Cap CRDO : $45.86B TSM : $2.24T
EPS CRDO : $2.50 TSM : NT$373.98
PE Ratio CRDO : 95.36 TSM : 36.83
PEG Ratio CRDO : 0.08 TSM : 1.06
PS Ratio CRDO : 33.73 TSM : 17.31
PB Ratio CRDO : 22.22 TSM : 12.13
Total Revenue (TTM) CRDO : $1.34B TSM : NT$4.13T
Gross Profit (TTM) CRDO : $908.35M TSM : NT$2.55T
EBITDA (TTM) CRDO : $463.79M TSM : NT$3.14T

Return for Risk

CRDO vs. TSM — Risk / Return Rank

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

CRDO

CRDO Risk / Return Rank: 82
CRDO Sharpe Ratio Rank: 86
CRDO Sortino Ratio Rank: 82
CRDO Omega Ratio Rank: 78
CRDO Calmar Ratio Rank: 83
CRDO Martin Ratio Rank: 82

TSM

TSM Risk / Return Rank: 92
TSM Sharpe Ratio Rank: 93
TSM Sortino Ratio Rank: 90
TSM Omega Ratio Rank: 88
TSM Calmar Ratio Rank: 93
TSM Martin Ratio Rank: 96

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.

CRDO vs. TSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Credo Technology Group Holding Ltd (CRDO) and Taiwan Semiconductor Manufacturing Company Limited (TSM). 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.

	CRDO	TSM	Difference
Sharpe ratio: Return per unit of total volatility	1.73	2.52	-0.80
Sortino ratio: Return per unit of downside risk	2.31	3.09	-0.78
Omega ratio: Gain probability vs. loss probability	1.27	1.38	-0.11
Calmar ratio: Return relative to maximum drawdown	2.82	5.27	-2.45
Martin ratio: Return relative to average drawdown	6.79	18.40	-11.61

CRDO vs. TSM - Sharpe Ratio Comparison

The current CRDO Sharpe Ratio is 1.73, which is lower than the TSM Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of CRDO and TSM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CRDO vs. TSM - Drawdown Comparison

The maximum CRDO drawdown since its inception was -62.04%, smaller than the maximum TSM drawdown of -89.08%. Use the drawdown chart below to compare losses from any high point for CRDO and TSM.

Drawdown Indicators

	CRDO	TSM	Difference
Max Drawdown Largest peak-to-trough decline	-62.04%	-89.08%	+27.04%
Max Drawdown (1Y) Largest decline over 1 year	-53.59%	-18.14%	-35.45%
Max Drawdown (3Y) Largest decline over 3 years	-61.05%	-36.82%	-24.23%
Max Drawdown (5Y) Largest decline over 5 years	—	-56.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-56.47%	—
Current Drawdown Current decline from peak	-21.33%	-7.55%	-13.78%
Average Drawdown Average peak-to-trough decline	-19.29%	-42.80%	+23.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.25%	5.19%	+17.06%

Volatility

CRDO vs. TSM - Volatility Comparison

Credo Technology Group Holding Ltd (CRDO) has a higher volatility of 30.55% compared to Taiwan Semiconductor Manufacturing Company Limited (TSM) at 16.19%. This indicates that CRDO's price experiences larger fluctuations and is considered to be riskier than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRDO	TSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.55%	16.19%	+14.36%
Volatility (6M) Calculated over the trailing 6-month period	68.05%	29.97%	+38.08%
Volatility (1Y) Calculated over the trailing 1-year period	87.75%	37.94%	+49.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.91%	37.76%	+44.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.91%	34.38%	+47.53%

Dividends

CRDO vs. TSM - Dividend Comparison

CRDO has not paid dividends to shareholders, while TSM's dividend yield for the trailing twelve months is around 0.81%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRDO Credo Technology Group Holding Ltd	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TSM Taiwan Semiconductor Manufacturing Company Limited	0.81%	1.00%	1.18%	1.78%	2.49%	1.57%	1.56%	3.46%	3.64%	2.32%	2.61%	2.54%

Financials

CRDO vs. TSM - Profitability Comparison

The chart below illustrates the profitability comparison between Credo Technology Group Holding Ltd and Taiwan Semiconductor Manufacturing Company Limited over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CRDO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Credo Technology Group Holding Ltd reported a gross profit of 298.07M and revenue of 437.00M. Therefore, the gross margin over that period was 68.2%.

TSM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Taiwan Semiconductor Manufacturing Company Limited reported a gross profit of 759.06B and revenue of 1.15T. Therefore, the gross margin over that period was 66.3%.

CRDO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Credo Technology Group Holding Ltd reported an operating income of 155.85M and revenue of 437.00M, resulting in an operating margin of 35.7%.

TSM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Taiwan Semiconductor Manufacturing Company Limited reported an operating income of 664.08B and revenue of 1.15T, resulting in an operating margin of 58.0%.

CRDO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Credo Technology Group Holding Ltd reported a net income of 169.10M and revenue of 437.00M, resulting in a net margin of 38.7%.

TSM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Taiwan Semiconductor Manufacturing Company Limited reported a net income of 578.40B and revenue of 1.15T, resulting in a net margin of 50.5%.

Frequently Asked Questions

Can I hold both CRDO and TSM in my portfolio?

CRDO and TSM have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CRDO or TSM?

CRDO has higher volatility (30.55%) compared to TSM (16.19%). In terms of maximum drawdown, CRDO dropped -62.04% vs TSM's -89.08%.

Which has better risk-adjusted returns?

TSM currently has the higher Sharpe Ratio (2.52 vs 1.73), 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.