OKTA vs. CDNS
OKTA (Okta, Inc.) and CDNS (Cadence Design Systems, Inc.) are both stocks. Both are in the Technology sector — OKTA in Software - Infrastructure, CDNS in Software - Application. Over the past 5 years, OKTA returned -12.47%/yr vs 24.39%/yr for CDNS. A 0.50 correlation means they provide meaningful diversification when combined.
Performance
OKTA vs. CDNS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, OKTA achieves a 34.49% return, which is significantly higher than CDNS's 23.16% return.
OKTA
- 1D
- -1.03%
- 1M
- 48.71%
- YTD
- 34.49%
- 6M
- 28.95%
- 1Y
- 16.08%
- 3Y*
- 15.20%
- 5Y*
- -12.47%
- 10Y*
- —
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%
OKTA vs. CDNS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OKTA Okta, Inc. | 34.49% | 9.73% | -12.96% | 32.49% | -69.52% | -11.83% | 120.39% | 80.83% | 149.12% | 7.83% |
CDNS Cadence Design Systems, Inc. | 23.16% | 4.03% | 10.31% | 69.55% | -13.80% | 36.59% | 96.70% | 59.52% | 3.97% | 34.17% |
Correlation
The correlation between OKTA and CDNS 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 | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Apr 7, 2017 | 0.50 |
The correlation between OKTA and CDNS has been stable across timeframes, ranging from 0.46 to 0.51 - a consistent structural relationship.
Fundamentals
OKTA:
$20.66B
CDNS:
$105.37B
OKTA:
$0.96
CDNS:
$4.28
OKTA:
120.69
CDNS:
89.86
OKTA:
0.18
CDNS:
6.85
OKTA:
9.36
CDNS:
19.03
OKTA:
3.00K
CDNS:
12.08
OKTA:
$2.23B
CDNS:
$5.53B
OKTA:
$1.73B
CDNS:
$4.91B
OKTA:
$235.06M
CDNS:
$1.87B
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
OKTA vs. CDNS — Risk / Return Rank
OKTA
CDNS
OKTA vs. CDNS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Okta, Inc. (OKTA) and Cadence Design Systems, Inc. (CDNS). 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.
| OKTA | CDNS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.15 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | 0.87 | -0.44 |
| Martin ratioReturn relative to average drawdown | 1.02 | 1.84 | -0.82 |
Loading charts...
Drawdowns
OKTA vs. CDNS - Drawdown Comparison
The maximum OKTA drawdown since its inception was -84.57%, smaller than the maximum CDNS drawdown of -93.13%. Use the drawdown chart below to compare losses from any high point for OKTA and CDNS.
Loading charts...
Drawdown Indicators
| OKTA | CDNS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.57% | -93.13% | +8.56% |
Max Drawdown (1Y)Largest decline over 1 year | -37.75% | -28.85% | -8.90% |
Max Drawdown (3Y)Largest decline over 3 years | -50.57% | -29.05% | -21.52% |
Max Drawdown (5Y)Largest decline over 5 years | -83.43% | -29.59% | -53.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.12% | — |
Current DrawdownCurrent decline from peak | -60.14% | -7.55% | -52.59% |
Average DrawdownAverage peak-to-trough decline | -38.27% | -39.62% | +1.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.82% | 13.63% | +2.19% |
Volatility
OKTA vs. CDNS - Volatility Comparison
Okta, Inc. (OKTA) has a higher volatility of 32.92% compared to Cadence Design Systems, Inc. (CDNS) at 16.52%. This indicates that OKTA's price experiences larger fluctuations and is considered to be riskier than CDNS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| OKTA | CDNS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.92% | 16.52% | +16.40% |
Volatility (6M)Calculated over the trailing 6-month period | 48.12% | 31.73% | +16.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.65% | 38.94% | +15.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.50% | 36.17% | +21.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.99% | 34.12% | +19.87% |
Dividends
OKTA vs. CDNS - Dividend Comparison
Neither OKTA nor CDNS has paid dividends to shareholders.
Financials
OKTA vs. CDNS - Financials Comparison
This section allows you to compare key financial metrics between Okta, Inc. and Cadence Design Systems, 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
OKTA vs. CDNS - Profitability Comparison
OKTA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Okta, Inc. reported a gross profit of 595.00K and revenue of 765.00K. Therefore, the gross margin over that period was 77.8%.
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%.
OKTA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Okta, Inc. reported an operating income of 56.00K and revenue of 765.00K, resulting in an operating margin of 7.3%.
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%.
OKTA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Okta, Inc. reported a net income of 74.00K and revenue of 765.00K, resulting in a net margin of 9.7%.
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%.
Frequently Asked Questions
OKTA and CDNS 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.
OKTA has higher volatility (32.92%) compared to CDNS (16.52%). In terms of maximum drawdown, OKTA dropped -84.57% vs CDNS's -93.13%.
CDNS currently has the higher Sharpe Ratio (0.65 vs 0.30), 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.
Find the right allocation for OKTA and CDNS
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